Egyptian Foreign Minister confirms that his country is the country most affected by the escalation in the Red Sea

Egyptian Foreign Minister Badr Abdel Aati confirmed on Monday that his country is the country most affected by the escalation in the Red Sea due to the losses incurred by the Suez Canal, stressing that ending the war on the Gaza Strip is the "necessary solution to address the roots of the escalation."

Abdel-Ati said in a press conference with his Russian counterpart Sergei Lavrov in Moscow that Egypt is incurring monthly losses due to the decline in revenues from the Suez Canal, as a result of the tensions in the Red Sea, which affect the security of navigation.

He added: "We are all harmed by this unjustified escalation and this tension that affects the freedom of international navigation in the Red Sea."

He continued: "Egypt is, of course, the country most affected by this dangerous escalation. We are suffering monthly from the severe decline in Suez Canal revenues as a result of this escalation and targeting."

Abdel-Ati stressed that "the solution lies in addressing the roots of this escalation by stopping the aggression on the Gaza Strip, and not giving any party a justification to exploit this suffering for other purposes."

Last July, navigation statistics in the canal during the fiscal year 2023/2024 revealed the passage of 20,148 ships with a total net tonnage of one billion tons, achieving revenues of $7.2 billion.

This is in contrast to the passage of 25,911 ships during the fiscal year 2022/2023, with a total net tonnage of 1.5 billion tons, achieving revenues of $9.4 billion, according to a statement by the Suez Canal Authority at the time.

And "in solidarity with the Gaza Strip," which has been subjected to a devastating Israeli war with American support since October 7, the Yemeni Houthi group is targeting Israeli or Israeli-linked cargo ships in the Red Sea with missiles and drones.

Source: Anadolu Agency