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flag Ships are avoiding the Red Sea due to attacks, rerouting to the Suez Canal and causing Egypt a $7B loss.

flag Ships are rerouting from the Cape of Good Hope to Egypt's Suez Canal due to attacks by Iran-backed Houthi militants in the Red Sea since November 2023. flag This has led to increased shipping costs and disrupted trade, with 47 ships rerouted this month alone. flag Egyptian President Abdel Fattah al-Sisi reported a $7 billion loss in revenue for Egypt in 2024 due to these disruptions.

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