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Egypt says Suez Canal revenues down 40-50% amid Red Sea tension

 Published: 11:49, 20 February 2024

Egypt says Suez Canal revenues down 40-50% amid Red Sea tension

Egyptian President Abdel-Fattah al-Sisi said Monday that Suez Canal revenues have dropped 40-50% amid tensions in the Red Sea.

“The Suez Canal contributes about $10 billion annually to Egypt, but its revenues dropped 40-50%,” Sisi said at the opening of the annual Egypt Energy Show in Cairo.

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