Yemen Monitor/ Newsroom:
Egyptian Foreign Minister Badr Abdul Atty expressed hope that the ceasefire agreement in the Gaza Strip would lead to a de-escalation in the Red Sea region.
This came during a phone call he received on Thursday from his Iranian counterpart, Abbas Araqchi, according to a statement by the Egyptian Foreign Ministry on Friday.
According to the statement, the two sides discussed developments in the Gaza Strip, and the Iranian minister praised “Egypt’s efforts to reach a ceasefire agreement and Cairo’s pivotal role in this regard.”
For his part, Abdul Atty affirmed “the importance that Egypt attaches to the immediate implementation of the agreement,” noting the need for the parties to the agreement to abide by all its provisions in accordance with the agreed-upon timeframe.
According to the Egyptian statement, “The two ministers discussed regional developments, including the Red Sea region, and the repercussions of the disturbances over the past year on the security of navigation.”
Abdul Atty expressed Egypt’s hope that “the ceasefire agreement will lead to the restoration of stability and calm and a de-escalation in the Red Sea region, preserving the freedom of international navigation in this vital global artery.”
In late December, the Egyptian presidency said that “the Suez Canal’s revenues lost nearly $7 billion in 2024, as a result of the current events in the Red Sea and Bab el-Mandeb region, which negatively affected the movement of navigation through the canal and the sustainability of global trade.”
While the presidency did not mention the total revenues of the Suez Canal in 2024, the revenues achieved in 2023 amounted to $10.25 billion, according to official data.
On Wednesday evening, Qatar announced its success, along with mediators Egypt and Washington, in reaching a ceasefire agreement, explaining that the first phase of it is 42 days long and includes the release of 33 Israeli detainees in exchange for an unspecified number of Palestinian prisoners, but estimated to be in the hundreds.
