Egypt's Suez Canal income falls amid Yemen Huthi attacks 

CAIRO, July 18: Egypt's Suez Canal on Thursday reported a 23.4-percent drop in revenues attributed to disruptions in Red Sea shipping over the past year, marked by attacks from Yemen's Huthi rebels on Israeli-linked vessels.

The canal is a crucial source of foreign currency for Egypt, which is currently grappling with a severe financial crisis.
Since November, the Huthis have launched numerous attacks on ships in the Gulf of Aden and Red Sea.
The Iran-backed group says the attacks are aimed at vessels with links to Israel in solidarity with Palestinians in the war-torn Gaza Strip.

The attacks have forced many major shipping firms to suspend passage through the Red Sea, which usually carries about 10 percent of global trade, and divert their vessels thousands of miles around Africa. —AFP