Yemen Monitor / Newsroom:
Egyptian Foreign Minister Badr Abdel A’ati stated on Sunday that further militarization in the Red Sea region significantly harms global trade and the Egyptian economy, noting that Egypt may be the most affected by the current escalation in this area.
Abdel A’ati said in a press conference in Kuwait that he discussed the “catastrophic” situation in the Red Sea and the current escalation affecting international shipping with the Kuwaiti Foreign Minister, pointing out the significant decline in Suez Canal revenues as a result of this escalation, which he described as “unacceptable.”
He added that more “militarization” in the situation in the Red Sea “seriously damages” not only global trade but also the Egyptian economy.
He stated, “If there is a serious intention to prevent escalation, we must address the root causes of the problem, which are, of course, the Israeli aggression against Gaza Strip and also against Lebanon, so as not to give any party a pretext.”
He emphasized that “stability is very important, and stability will only be achieved by addressing the root causes of the issue and stopping this brutal aggression.”
Iran-aligned Houthi group in Yemen have been attacking commercial shipping in the Red Sea for over a year in an attempt to impose a maritime blockade on Israel, claiming they are acting in solidarity with the Palestinians in Israel’s ongoing war in Gaza.
