The head of the administration of the Suez Canal, Osama Rabie, pointed out that “the Russian military operation in Ukraine has both positive and negative consequences for the canal.”

Rabi said in a statement that “the positive effects of the military operation are presented in increased trade in crude oil and its products destined for the Persian Gulf to Europe and America as an alternative to Russian oil, but the positive effect is better.” than negative as long as the number of ships, cargo and dollar receipts has not increased. ” “.

He pointed out that “this issue has led to an increase in transit ships, and if we compare from May 1 to today, the number of transit ships is 1166, which is 10 percent more than last year, in which the number of transit ships reached 1,066,324 million dollars turned into $399 million, an increase of 23 percent,” highlighting that “the positive effects were higher than the negative ones.”

On the other hand, he pointed to negative consequences, believing that “with the onset of the Russian-Ukrainian crisis, the authorities noticed negative consequences, including a decline in trade in the Black Sea region, passing through the Suez Canal, with the navigational traffic of ships coming from East Asia, Russia and Ukraine, suffered and now no longer exists.”