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flag Houthi attacks since November 2023 cost Egypt $7 billion in Suez Canal revenue, a 60% drop.

flag The Suez Canal Authority Chairman, Osama Rabie, announced that Iran-backed Houthi militant attacks since November 2023 did not create a sustainable alternative to the Suez Canal. flag These attacks forced ships to reroute around Africa, increasing costs for insurers. flag Egyptian President Abdel Fattah al-Sisi reported that the disruption cost Egypt about $7 billion in Suez Canal revenue in 2024, a more than 60% drop from the previous year. flag Rabie also noted positive signs for regional stability.

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