Sisi says Egypt lost about $20 billion in Suez Canal revenue amid regional instability

Egyptian President Abdel Fattah el-Sisi said on Tuesday that Egypt has lost about $20 billion in Suez Canal revenue in recent years because of regional instability, while warning that efforts to displace Palestinians from the Gaza Strip remain a threat.

Sisi made the remarks during an expanded meeting at the Strategic Command headquarters in Egypt’s New Administrative Capital, attended by Prime Minister Mostafa Madbouly, cabinet ministers, governors, senior state officials, military and police commanders, local leaders and experts.

The gathering was the first meeting of its kind at the headquarters since Sisi formally inaugurated the Strategic Command complex in July.

Sisi said Egypt needed to make better use of state resources, strengthen public confidence in government institutions and protect domestic stability. He said the political upheaval between 2011 and 2013 had caused a major economic contraction whose effects could take years to overcome.

READ: Egypt says Suez Canal ‘safe’ as shipping traffic returns to normal

He also pointed to successive economic shocks since 2020, including the COVID-19 pandemic, the Russia-Ukraine war and the conflict in Gaza, as major pressures on the Egyptian economy. Regional instability has disrupted shipping through the Red Sea and Suez Canal, costing Egypt approximately $20 billion in canal revenue over recent years, Sisi said.

Addressing Gaza, Sisi warned that attempts to forcibly displace Palestinians from the territory “have not ceased,” reiterating Egypt’s opposition to any transfer of Gaza’s population outside the Palestinian territories.

Egypt has repeatedly rejected proposals for Palestinians from Gaza to be relocated to Egyptian territory. Israeli officials have at various times advocated what they describe as the “voluntary migration” of Palestinians from Gaza, while US President Donald Trump publicly proposed in 2025 that Palestinians be moved out of Gaza while the territory was redeveloped. Egypt rejected such proposals.

Sisi said peace remains Egypt’s strategic choice and described the Palestinian issue as central to stability in the Middle East. He reiterated Cairo’s support for a two-state solution as the basis for resolving the Israeli-Palestinian conflict.

The Egyptian president also reaffirmed what he described as longstanding principles of Cairo’s foreign policy, including support for the security and stability of Arab Gulf states and freedom of navigation through international maritime routes in accordance with international law.

OPINION: Why is El-Sisi’s regime considering the sale of the Suez Canal?!