President Abdel Fattah El-Sisi has blamed the war in Gaza for Egypt’s direct loss of revenue from the Suez Canal which he said reached $9 billion as the conflict clocked two years in October 2025.
Speaking in Davos Switzerland where is attending the World Economic Forum, President Sisi said it was in the interest of global trade that the war between Israel and Hamas in Gaza should end permanently.
“$9 billion in direct revenues was lost as a result of the conflict” Sisi said of the war which began in October 2023 and lasted until October 2025 when a ceasefire was agreed between the warring sides in the Egyptian resort of Sharm el-Sheikh.
According to Sisi, the Suez Canal shipping route was particularly adversely affected throughout the course of the conflict.
The Suez Canal, one of the world’s most vital waterways is a global logistics and trade hub whch accounts for 12 percent of international shipping. It also commands 30 percent of the world’s container shipping thanks to its position as a shorter alternative route for ships linking trade between Asia, Europe, and North America.
WN/as/APA