Features / Russia-Ukraine

Suez Canal Achieves Great Returns Despite Russia-Ukraine Turbulence

Despite the war in Ukraine, which affects maritime trade, the Egyptian Suez Canal shakes off the war and makes great returns. This comes as the Suez Canal received many liquified natural gas (LNG) tankers coming from the Gulf countries and the south towards Europe. These LNG carriers have compensated and even overcome the loss of traffic from the Black Sea, which was caused by the war, according to Rabie.

Impact of the Oil Prices Hike on the Egyptian Economy

The Russian military operation in Ukraine destabilized global oil markets, taking prices to record high. The increasing oil prices are going to affect the Egyptian economy in several ways, either positively or negatively. Some of these effects were immediate while others may arise in the short term.

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