Shoukry: Ethiopia's Second Filling of Dam Won't Affect Egyptian Water Interests

Foreign Ministers of Egypt, Sudan, and Ethiopia in Kinshasa (File photo: Reuters)
Foreign Ministers of Egypt, Sudan, and Ethiopia in Kinshasa (File photo: Reuters)
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Shoukry: Ethiopia's Second Filling of Dam Won't Affect Egyptian Water Interests

Foreign Ministers of Egypt, Sudan, and Ethiopia in Kinshasa (File photo: Reuters)
Foreign Ministers of Egypt, Sudan, and Ethiopia in Kinshasa (File photo: Reuters)

Egyptian Foreign Minister Sameh Shoukry said that his country is confident the second filling of the Grand Ethiopian Renaissance Dam (GERD), scheduled for next July, will not affect its water interests. Speaking during an interview with the TEN channels, Shoukry explained that Egypt can deal with the issue through “strict management of our water resources.” The Minister asserted that it is important to join international efforts to convince Ethiopia of the need to reach an agreement, as the negotiating parties approach a crucial point. Shoukry was speaking from Paris, where he was accompanying President Abdel Fattah el-Sisi for an international summit on Sudan. Egypt and Sudan have been negotiating with Ethiopia for almost 10 years to conclude a legal agreement regulating the filling and operation of the dam, which Addis Ababa built on the main tributary of the Nile to generate electric power. Shoukry warned that Egypt will spare no effort in defending its water interests and taking measures to preserve them if the dam was used for any other purpose than what it is originally intended for. “The international moves show the importance of the issue and allow the president of the African Union to be briefed on the Egyptian viewpoint, which is characterized by flexibility, moderation, and the desire to get out of the crisis by reaching an agreement," noted Shoukry. For his part, the Ethiopian Minister of Water and Irrigation, Seleshi Bekele said that the construction of the dam is proceeding according to plan. In April, the Egyptian Ministry of Irrigation indicated that the Ethiopian claim that the two bottom outlets of the dam are capable of enabling an average flow of Blue Nile is incorrect. The capacity of releasing Nile water from these two bottom outlets does not exceed 50 million m3/day, the ministry said, an amount that does not meet the needs of the two downstream countries. The ministry added that such an amount of water is not equivalent to the average water release coming from the Blue Nile. “The situation will be more complicated starting from the flood season (Next July) as the bottom outlets will release an amount lower than usual in July and August,” read the Ministry's statement. Meanwhile, the Ethiopian News Agency (ENA) highlighted Shoukry's statements and quoted the Ethiopian Foreign Ministry's adviser, Ibrahim Idris, as saying that “Sudan and Egypt are using the Renaissance Dam to pressure Ethiopia to give up its water rights.” Idris says that the two downstream countries are not interested in the dam in the first place, but with the Nile waters, noting that they are seeking to obtain a legal concession from Ethiopia through threats, pressure, and international persuasion



Lebanon Bans Dealing with Hezbollah Financial Entity

A view shows Lebanon's Central Bank building in Beirut, Lebanon April 4, 2025. REUTERS/Mohamed Azakir/File Photo
A view shows Lebanon's Central Bank building in Beirut, Lebanon April 4, 2025. REUTERS/Mohamed Azakir/File Photo
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Lebanon Bans Dealing with Hezbollah Financial Entity

A view shows Lebanon's Central Bank building in Beirut, Lebanon April 4, 2025. REUTERS/Mohamed Azakir/File Photo
A view shows Lebanon's Central Bank building in Beirut, Lebanon April 4, 2025. REUTERS/Mohamed Azakir/File Photo

Lebanon's central bank has banned banks and brokerages from dealing with a Hezbollah-affiliated financial institution, according to a circular, a sign of the group's diminished sway over state affairs since its devastating war with Israel.

Keeping up military pressure on the Iran-backed group, Israel on Tuesday launched some of its heaviest airstrikes since a ceasefire in November, saying it hit training camps and weapons depots in east Lebanon. A security source in Lebanon said 12 people were killed, five of them Hezbollah fighters, Reuters reported.

Hezbollah has faced mounting pressures since the war, including financial ones.

In the circular, dated July 14 and reviewed by Reuters, Banque du Liban prohibited all licensed financial institutions in Lebanon from dealing directly or indirectly with unlicensed entities and listed Hezbollah's Al-Qard Al-Hassan as an example.

The US Department of Treasury imposed sanctions on Al-Qard Al-Hassan in 2007, saying Hezbollah used it as a cover to manage "financial activities and gain access to the international financial system".

Bolstered by its powerful arsenal, Hezbollah had long exercised decisive influence over Lebanese state affairs, but it was unable to impose its will in the formation of a post-war government in February.

Al-Qard Al-Hassan, founded in 1983, describes itself as a charitable organisation which provides loans to people according to Islamic principles that forbid interest. Israel struck some of its branches during its war with Hezbollah last year.

Operating as a not-for-profit organisation under a licence granted by the Lebanese government, it has more than 30 branches, mostly in southern Lebanon and the Bekaa Valley.

SHADOW ECONOMY

A Lebanese official said the central bank move had been in the works for months, and reflected US pressure on Lebanon to take action against Hezbollah's financial wing.

Nassib Ghobril, chief economist at Byblos Bank, said Lebanese banks were already careful to avoid dealing with Al-Qard Al-Hassan because it is under US sanctions.

"The important point is that finally the authorities are addressing the shadow economy in Lebanon, which is the real problem," he said, adding that authorities had long failed to address its "toxic effects".

In June, the European Commission included Lebanon in an updated list of high-risk jurisdictions presenting strategic deficiencies in their national anti-money laundering and countering the financing of terrorism.

Last year, global financial crime watchdog FATF placed Lebanon on its "grey list" of countries under special scrutiny.