Egypt’s president said on Sunday its revenues from the Suez Canal have dropped by 60%, or more than $6 billion, in recent months as attacks by Yemen’s Houthis disrupt Red Sea shipping.
President Abdel Fattah el-Sissi spoke during a graduation ceremony Sunday at the Police Academy in Cairo.
“The developments taking place are extremely serious and could lead to an expansion of the conflict in the region, affecting stability,” he said.
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