Suez Canal revenues fell 55% from a record $9.4 billion in the 2022-2023 fiscal year as Houthi rebels bombed ships in the Red Sea. Egyptian Finance Minister Mohammed Maait stated this in a live broadcast on Sada El Balad TV channel. RIA News.
According to him, the Ansar Allah group is attacking commercial ships in the southern Red Sea, forcing shipowners to change routes around the Suez Canal to avoid connecting to the Mediterranean. The Houthis announced that they will continue their attacks until Israel stops fighting in Palestine.
The change in routes led to increased flight costs and durations, as well as sharp increases in oil prices and war risk insurance premiums. Suez Canal tolls constitute an important source of foreign currency for Egypt, which is experiencing its worst economic crisis in recent years. In the 2021-2022 fiscal year, the channel’s revenue was $7 billion.
Before this it was known how price increased Delivery from India to Russia due to the situation with the Houthis.
Previously head of the Suez Canal Authority named irreplaceable.