CAIRO – 7 May 2025: Egypt has welcomed the Oman-mediated ceasefire agreement between the Houthis in Yemen and the United States, expressing hope that it will positively reflect on the freedom of navigation in the Red Sea.
In a statement released on Wednesday, the Ministry of Foreign Affairs expressed hope for continued commitment to the agreement, leading to positive progress in ending the Israeli war in Gaza and supporting efforts to achieve regional security and stability.
The announcement of the ceasefire follows US President Donald Trump's statement on Tuesday that the country will halt bombings against the Houthis after the group agreed to stop targeting Red Sea shipping.
“They have capitulated,” Trump said about the Houthis during an Oval Office meeting with Canada’s Prime Minister Mark Carney.
“The Houthis have announced … that they don’t want to fight any more. They just don’t want to fight. And we will honour that, and we will stop the bombings.”
Oman, which mediated between the US and the Houthis, confirmed that the deal will ensure freedom of navigation in the Red Sea.
The ceasefire agreement comes shortly after Israeli forces launched strikes on Yemen’s Hudaydah port city and Sanaa airport earlier this week, killing several people and wounding dozens more.
The airport’s general manager stated that all flights to and from the airport have been suspended until further notice due to the extensive damage caused by the Israeli attack.
He said the Israeli attack destroyed three Yemen Airways aircraft, and that it will take a long time to rehabilitate the airport and resume operations.
Another official said the strikes led to a complete destruction of the airport.
The Israeli attacks came in response to a successful Houthi ballistic missile attack on Israel’s Ben Gurion airport near Tel Aviv, which injured six people.
Meanwhile, chief Houthis negotiator Mohammed Abdulsalam said the group will halt attacks on US shipping as long as Washington adheres to the ceasefire.
However, he reportedly stressed that the agreement "does not include Israel in any way."
Red Sea tensions have severely disrupted maritime traffic, prompting many vessels to avoid Egypt’s Suez Canal, a waterway that typically handles around 12% of global trade.
As a result, many ships have resorted to longer routes, negatively impacting global trade as well as Egypt's economy.
Egypt has reported a monthly revenue drop of around $800 million from the Suez Canal due to the Red Sea tensions.
In 2024, canal revenues plummeted by over 60% compared to 2023, resulting in an estimated loss of $7 billion for Egypt, a country struggling to grow its foreign currency inflows amid ongoing global crises.
Wed, May. 7, 2025
