Egypt expressed on Wednesday its support for the European Union’s ASPIDES naval mission, established in February to protect navigation in the Red Sea.
Tensions escalated in the Red Sea region at the end of November, with Yemen’s Houthi militias targeting ships passing through the shipping lane in response to the Israeli war in the Gaza Strip.
These attacks prompted international shipping companies to change their route and avoid passing through the Red Sea canal, which had repercussions on the economy and global trade.
Egyptian Foreign Minister Badr Abdelatty emphasized the need to strengthen efforts to secure navigation in the Red Sea amid escalating regional tensions, according to a statement from the Egyptian Foreign Ministry.
His remarks came during a meeting in Cairo with Vasileios Gryparis, operation commander of the European Union’s ASPIDES naval mission.
The minister pointed to the necessity of ensuring a safe environment for commercial vessels, adding that threats to navigation in the Red Sea have significantly impacted the Egyptian economy by reducing Suez Canal revenues.
“Egypt is one of the most impacted countries in the world because of this situation,” he underlined.
The Suez Canal is one of the main sources of hard currency in Egypt. Its revenues last year amounted to $10.3 billion, according to official data.
But these revenues have witnessed a decline in recent months, due to regional perturbations. Egyptian Prime Minister Dr. Mostafa Madbouly said in a press conference last week that his country was losing between $500 and $550 million a month due to the Red Sea tensions.”
Gryparis expressed commitment to engaging with the affected countries, particularly Egypt and reviewing successful operations against Houthi attacks.
Stressing the need for coordinated efforts to secure navigation in the Red Sea, the EU official pointed to “the defensive nature of the European naval operation in the face of threats,” reviewing the successes it achieved in deterring many Houthi attacks.
In remarks to Asharq Al-Awsat, strategic expert and head of the Arab Foundation for Development and Strategic Studies, Brigadier General Samir Ragheb, said: “Egypt is concerned with protecting the security of navigation in the Red Sea, and believes that the only way to do so is to stop the escalation and war on the Gaza Strip.”
“Cairo’s support for the European mission falls within this context,” he added.
