Egyptian president says Suez Canal revenues drop by 40-50 percent since Gaza war

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Egyptian president says Suez Canal revenues drop by 40-50 percent since Gaza war

STORY: Egyptian president says Suez Canal revenues drop by 40-50 percent since Gaza war SHOOTING TIME: Feb. 19, 2024, FILE DATELINE: Feb. 20, 2024 LENGTH: 00:00:34 LOCATION: Cairo CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. various of Egyptian President Abdel-Fattah al-Sisi at Egypt International Energy Conference (Courtesy of the Egyptian Presidency) 2. various of the Suez Canal (FILE) STORYLINE: Egyptian President Abdel-Fattah al-Sisi said on Monday that the Suez Canal's revenues have decreased by 40-50 percent since the outbreak of the war on the Gaza Strip and the recent tensions in the Red Sea. Sisi made the televised remarks during the inauguration of the Egypt Energy Show (EGYPES 2024), which runs on Feb. 19-21 in Cairo, and is themed "Driving Energy Transition, Security, and Decarbonization." The shipping corridor used to bring Egypt 10 billion U.S. dollars annually, Sisi said, adding that the state is supposed to pay its financial obligations to development companies and financing institutions.

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