Egypt Suez Canal monthly revenue losses at around $800 million, Sisi says

Egypt's President Abdel Fattah al-Sisi said on Monday that the monthly losses of the Suez Canal revenues reached around $800 million due to the regional "situation", as Yemen's Houthis have been attacking vessels in the Red Sea.

The Iran-backed Houthis have attacked vessels in the Red Sea area since November 2023, disrupting global shipping by forcing vessels to avoid the nearby Suez Canal and reroute trade around Africa, raising shipping costs.

The Egyptian presidency statement did not directly refer to the Houthis, but Sisi said in December the disruption cost Egypt around $7 billion in less revenue from the Suez Canal in 2024.

The Yemeni group recently vowed to resume attacking US vessels in the Red Sea in response to deadly US strikes on Yemen that killed at least 53 people on Saturday, in the biggest US military operation in the Middle East since President Donald Trump took office in January.