Egypt reports $11 billion Suez Canal loss amid regional maritime tensions

Egyptian Foreign Minister Badr Abdelatty has called for restraint in the Bab el-Mandeb strait to prevent further escalation of regional tensions. He noted that Egypt has suffered significant economic damage due to maritime instability, with Suez Canal revenues decreasing by approximately $11 billion.

Regarding the conflict in Gaza, Abdelatty stated that while Egypt and its partners have made progress in negotiating terms for Palestinian groups to surrender weapons in exchange for Israeli withdrawals, certain requirements—such as the daily entry of 600 aid trucks—have not been met. He criticized Israel for failing to fulfill its commitments and called for an end to settlement expansion.

In Iran, Ministry of Foreign Affairs spokesperson Ismail Baghaei asserted that the Strait of Hormuz remains under the full control of Iranian armed forces. He attributed maritime insecurity to United States actions and defended Iran's right to take security measures. Baghaei also criticized recent IAEA-related resolutions, stating that countries like Saudi Arabia and Japan would be held accountable for their support of measures against Iran.