Egypt Downplays Israeli Pipeline’s Effect on Suez Canal

File photo of Suez Canal. Anadolu news agency
File photo of Suez Canal. Anadolu news agency
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Egypt Downplays Israeli Pipeline’s Effect on Suez Canal

File photo of Suez Canal. Anadolu news agency
File photo of Suez Canal. Anadolu news agency

Cairo on Tuesday downplayed the impact of the Israeli Ashkelon-Eilat oil pipeline on the revenues and competitiveness of the Egyptian Suez Canal.

A rare official statement by Egypt's state-owned Suez Canal Authority (SCA) said the pipeline, once re-operated, would slightly affect the total flows of trade crossing the Suez Canal.

“It is expected that the impact of the pipeline, once operational, will not exceed 12-16% of the volume of crude oil trade heading north, and not of the total trade traffic crossing the canal,” it said.

The SCA statement noted that the pipeline links the Eilat oil port on the Red Sea coast with the Ashkelon oil port on the Mediterranean coast and that the canal route will remain the shortest and most secure link between East and West since shipping containers passing through the canal can transport larger quantities of goods at a cost lower than any land routes.

The statement said SCA's revenues come from diverse sources, adding the containers bring in 50 percent of the canal's total revenues while crude oil contributes only 6.5 percent.

Dr. Ahmed Kandil, the head of energy studies program at Al Ahram Center for Political and Strategic Studies, said the economic benefits of the oil pipeline are “not huge.”

He said political tensions and regional geopolitical dimensions would make it risky for international institutions to think about funding the pipeline.

The Suez Canal is one of Egypt's main sources of national income and foreign currency reserves.



Netanyahu will Meet Trump on Gaza on December 29, Spokesperson Says

US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu reach to shake hands at a joint press conference in the State Dining Room at the White House in Washington, DC, US, September 29, 2025. REUTERS/Jonathan Ernst/ File Photo
US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu reach to shake hands at a joint press conference in the State Dining Room at the White House in Washington, DC, US, September 29, 2025. REUTERS/Jonathan Ernst/ File Photo
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Netanyahu will Meet Trump on Gaza on December 29, Spokesperson Says

US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu reach to shake hands at a joint press conference in the State Dining Room at the White House in Washington, DC, US, September 29, 2025. REUTERS/Jonathan Ernst/ File Photo
US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu reach to shake hands at a joint press conference in the State Dining Room at the White House in Washington, DC, US, September 29, 2025. REUTERS/Jonathan Ernst/ File Photo

Israeli Prime Minister Benjamin Netanyahu will meet US President Donald Trump on December 29 to discuss the next steps of the Gaza ceasefire, an Israeli government spokesperson said on Monday, Reuters reported.

On Sunday, Netanyahu said that he will be discussing with Trump the second phase of a US plan to end the war in Gaza later this month. A ceasefire between Israel and Hamas came into effect in October.

Both sides have repeatedly accused each other of violating the truce and wide gaps remain on key issues yet to be discussed under Trump's plan to end the war, including Hamas disarmament, the governance of post-war Gaza and the composition and mandate of an international security force in the enclave.

"The Prime Minister will meet with President Trump on Monday, December 29 they will discuss the future steps and phases and the international stabilization force of the ceasefire plan," government spokesperson Shosh Bedrosian said in an online briefing to reporters.

The prime minister's office said on December 1 that Trump had invited Netanyahu to the White House. Israeli media have since reported that the two leaders may meet in Florida.


Iraq Shuts Down Lukoil West Qurna 2 Field Due to Leak

FILE PHOTO: A general view shows the West Qurna-2 oilfield in southern Basra, Iraq, April 17, 2017. REUTERS/Essam Al-Sudani/File Photo/File Photo
FILE PHOTO: A general view shows the West Qurna-2 oilfield in southern Basra, Iraq, April 17, 2017. REUTERS/Essam Al-Sudani/File Photo/File Photo
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Iraq Shuts Down Lukoil West Qurna 2 Field Due to Leak

FILE PHOTO: A general view shows the West Qurna-2 oilfield in southern Basra, Iraq, April 17, 2017. REUTERS/Essam Al-Sudani/File Photo/File Photo
FILE PHOTO: A general view shows the West Qurna-2 oilfield in southern Basra, Iraq, April 17, 2017. REUTERS/Essam Al-Sudani/File Photo/File Photo

Iraq has shut down the entire oil production at Lukoil's West Qurna 2 oilfield, one of the world's largest, due to a leak on an export pipeline, two Iraqi energy officials told Reuters on Monday.

Lukoil declared force majeure last month at West Qurna 2 as it was hit with sanctions alongside Rosneft as part of US President Donald Trump's push to end the war in Ukraine.

The field, with output of around 460,000 barrels per day, accounts for about 0.5% of world oil supply and 9% of total output in Iraq, OPEC's second-largest producer.

Lukoil's 75% operational stake in the field is its largest foreign asset.

Iraq has frequently produced above its output target agreed with OPEC and allies including Russia, known as OPEC+.

The sanctions have drawn a growing list of potential bidders for Lukoil's global assets that includes oil majors.


UN Palestinian Aid Agency Says Israeli Police ‘Forcibly Entered’ Compound in Jerusalem 

Offices of the United Nations agency for Palestinian refugees, known as UNRWA, are seen in the Shuafat refugee camp in Jerusalem, Monday, Jan. 27, 2025. (AP)
Offices of the United Nations agency for Palestinian refugees, known as UNRWA, are seen in the Shuafat refugee camp in Jerusalem, Monday, Jan. 27, 2025. (AP)
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UN Palestinian Aid Agency Says Israeli Police ‘Forcibly Entered’ Compound in Jerusalem 

Offices of the United Nations agency for Palestinian refugees, known as UNRWA, are seen in the Shuafat refugee camp in Jerusalem, Monday, Jan. 27, 2025. (AP)
Offices of the United Nations agency for Palestinian refugees, known as UNRWA, are seen in the Shuafat refugee camp in Jerusalem, Monday, Jan. 27, 2025. (AP)

Israeli police forcibly entered the compound of the United Nations agency for Palestinian refugees in East Jerusalem early Monday, escalating a campaign against an organization that has been banned from operating on Israeli territory.

The UN Relief and Works Agency for Palestinian Refugees in the Near East, or UNRWA, said in a statement that “sizeable numbers” of Israeli forces including police on motorcycles, trucks and forklifts entered the compound in the Palestinian neighborhood of Sheikh Jarrah and cut communications to the compound.

“The unauthorized and forceful entry by Israeli security forces is an unacceptable violation of UNRWA’s privileges and immunities as a UN agency,” the agency said.

Photos taken by an Associated Press photographer show police cars on the street and an Israeli flag planted on the compound's roof. Photos provided by UNRWA staff show a group of Israeli police officers inside the compound.

Police said in a statement they entered for a “debt-collection procedure” spearheaded by Jerusalem's municipal government, which did not immediately respond to a request for comment.

The raid was the latest action in Israel's campaign against the agency, which provides aid and services to some 2.5 million Palestinian refugees in Gaza, the occupied West Bank and east Jerusalem, as well as 3 million more refugees in Syria, Jordan and Lebanon.

The agency was established to help the estimated 700,000 Palestinians who fled or were driven out of what is now Israel during the 1948 war surrounding Israel’s creation. UNRWA supporters say Israel hopes to erase the Palestinian refugee issue by dismantling the agency. Israel says the refugees should be permanently resettled outside its borders.

For more than a year of the Israel-Hamas war that began Oct. 7, 2023, UNRWA was the main lifeline for Gaza's population, which was largely reliant on aid because of humanitarian crisis unleashed by heavy Israeli bombardment and restrictions on the entry of goods.

Throughout the war, Israel has accused the agency of being infiltrated by Hamas, allegations the UN has denied. After months of mounting attacks from Prime Minister Benjamin Netanyahu and his far-right allies, Israel formally banned it from operating on its territory in January.

The US, formerly the largest donor to UNRWA, halted funding to the agency in early 2024.

UNRWA receives assistance from other agencies UNRWA has since struggled to continue its work in Gaza, with other UN agencies including WFP and UNICEF stepping in to help compensate for a gap UNRWA says is unfillable.

“If you squeeze UNRWA out, what other agency can fill that void?” said Tamara Alrifai, UNRWA’s director of external relations and communications, on the sidelines of the Doha Forum on Saturday.

The agency has been excluded from US-led talks on Phase 2 of the ceasefire, she added.

UNRWA shut down its Jerusalem compound in May after far-right protesters, including at least one member of Israeli Parliament, overran its gate in view of the police. Israel’s far-right has pushed to turn the compound into a settlement and the country's housing minister said last year he had instructed the ministry to “examine how to return the area to the state of Israel and utilize it for housing.”