Suez Canal Chief: Red Sea Crisis Did Not Create Sustainable Route to Replace Canal

Osama Rabie, Chairman of the Suez Canal Authority, speaks during an interview with Reuters in his office in the city of Ismailia, Egypt April 6, 2021. REUTERS/Mohamed Abd El Ghany/File Photo
Osama Rabie, Chairman of the Suez Canal Authority, speaks during an interview with Reuters in his office in the city of Ismailia, Egypt April 6, 2021. REUTERS/Mohamed Abd El Ghany/File Photo
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Suez Canal Chief: Red Sea Crisis Did Not Create Sustainable Route to Replace Canal

Osama Rabie, Chairman of the Suez Canal Authority, speaks during an interview with Reuters in his office in the city of Ismailia, Egypt April 6, 2021. REUTERS/Mohamed Abd El Ghany/File Photo
Osama Rabie, Chairman of the Suez Canal Authority, speaks during an interview with Reuters in his office in the city of Ismailia, Egypt April 6, 2021. REUTERS/Mohamed Abd El Ghany/File Photo

Suez Canal Authority Chairman Osama Rabie said on Wednesday that the Red Sea crisis did not create a sustainable route to replace the canal.

He also said that there were positive indicators for the return of stability in the region.

Iran-backed Houthi militants have attacked vessels in the Red Sea area since November 2023, disrupting global shipping lanes by forcing vessels to avoid the nearby Suez Canal and reroute trade around Africa, raising the costs for insurers.

Egyptian President Abdel Fattah al-Sisi said in December the disruption cost Egypt around $7 billion in revenue from the Suez Canal in 2024, Reuters reported.

That's a drop of more than 60% from its revenue a year before from the canal, Sisi said.



Israeli Military Begins ‘Ground Activity’ to Extend ‘Security Zone’ in Southern Gaza

 Displaced Palestinians, who flee from Rafah amidst ongoing Israeli military operations following Israel's renewed offensive in the Gaza Strip, arrive in Khan Younis, Gaza, on Sunday, March 23, 2025. (AP)
Displaced Palestinians, who flee from Rafah amidst ongoing Israeli military operations following Israel's renewed offensive in the Gaza Strip, arrive in Khan Younis, Gaza, on Sunday, March 23, 2025. (AP)
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Israeli Military Begins ‘Ground Activity’ to Extend ‘Security Zone’ in Southern Gaza

 Displaced Palestinians, who flee from Rafah amidst ongoing Israeli military operations following Israel's renewed offensive in the Gaza Strip, arrive in Khan Younis, Gaza, on Sunday, March 23, 2025. (AP)
Displaced Palestinians, who flee from Rafah amidst ongoing Israeli military operations following Israel's renewed offensive in the Gaza Strip, arrive in Khan Younis, Gaza, on Sunday, March 23, 2025. (AP)

The Israeli military said on Saturday it had begun "ground activity" in the Jneina neighborhood of Rafah to expand what it described as the security zone in southern Gaza.

On March 18, Israel resumed bombing and ground operations in Hamas which it said were intended to increase pressure on the Palestinian group Hamas to free hostages.