Original title: The situation in the Red Sea continues to be tense, and the revenue of the Suez Canal plummeted by nearly half in January.
Affected by the continued tension in the Red Sea, the Suez Canal in Egypt has seen a significant drop in vessel traffic. According to the news released by the Suez Canal Authority on January 3 local time, the canal's revenue in January this year decreased by nearly half compared with the same period last year.
Osama Rabieh, chairman of the Suez Canal Authority, told **: In January last year, we earned 80.4 billion US dollars, compared to 4$2.8 billion, which represents a decrease of 46%. "In January this year, the Suez Canal saw a 36% year-on-year decrease in vessel traffic.
The Suez Canal connects the Red Sea to the Mediterranean Sea and is strategically important. Canal revenues are the main source of Egypt's national fiscal revenue and foreign exchange reserves**.
After the outbreak of a new round of Palestinian-Israeli conflict on October 7 last year, Yemen's Houthi rebels frequently attacked Israeli ships in the Red Sea waters as a sign of support for Palestine. The Houthis say the attacks will cease only if Israel ceases fire and allows unhindered humanitarian aid to enter the Gaza Strip.
On the evening of the 3rd, the United States and Britain launched airstrikes on Houthi targets in Yemen's capital Sana'a and other provinces.
The United States took the lead in forming an escort coalition in December last year, issued an "ultimatum" against the Houthis in early January this year, and launched a series of strikes together with the United Kingdom on the 12th of that month. According to Masira TV, which is controlled by Yemen's Houthi rebels, on March 3 this month, the United States and Britain launched airstrikes on Houthi targets in the capital Sana'a and other provinces that night. A number of U.S. ** reports, citing unnamed U.S. **, said that the United States and Britain hit more than 30 targets of the Houthis in at least 10 locations on the 3rd.
In view of the ongoing tensions in the Red Sea, many international shipping companies have temporarily avoided the Suez Canal route, which requires passing through the Red Sea waters. Rabiyer said earlier this month that while Egypt had introduced measures such as discounted tolls to attract merchant ships, they were not enough to offset the safety concerns of shipping companies.
*: CCTV news client.