National Security

Suez Canal Revenue Drops Almost 25% amid Houthi Attacks

The chairman of the Suez Canal Authority (SCA) warned on Thursday that the pivotal shipping passage lost nearly 25 percent of its revenue in the 2023-2024 fiscal year, largely as a result of attacks on civilian commercial ships by Yemen’s Iran-backed Houthi terrorists.

FILE - A cargo ship sails through the town of Ismailia, Egypt, March 30, 2021. Houthi rebe