Latest news with #US-facilitated
Egypt Independent
2 days ago
- Business
- Egypt Independent
FM, Iranian counterpart hold political consultations
CAIRO, June 1 (MENA) – Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty received a phone call on Sunday from Massad Boulos, Senior Advisor to US President Donald Trump for Arab and Middle Eastern Affairs and Senior Advisor for Africa. Boulos expressed deep appreciation for President Abdel Fattah al-Sisi's warm reception during his recent Cairo visit, describing it as positive and reflective of the strong bilateral ties. They exchanged views on the situation in Libya, Sudan, and the Great Lakes region. Abdelatty shared the outcomes of the tripartite meeting of Libya's neighboring states (Egypt, Algeria, Tunisia), which emphasized the need for preserving Libya's unity and sovereignty and for the withdrawal of foreign forces and militias. Both sides agreed on the importance for achieving stability and ending divisions in the country. On Sudan, Abdelatty reaffirmed Egypt's support for Sudan's unity and stability and highlighted Egypt's positive engagement with efforts to secure a ceasefire and alleviate the people's humanitarian suffering. The two agreed to enhance joint coordination with the US and key stakeholders on Sudan. Regarding the Great Lakes region, the top diplomat welcomed the US-facilitated Declaration of Principles signed by the DRC and Rwanda on April 25, calling it a vital step for peace, stability, and regional development. The two sides agreed to continue working together to achieve the shared goal. (MENA)
Egypt Independent
2 days ago
- Business
- Egypt Independent
FM, Trump's senior advisor mull developments in Sudan, Libya
CAIRO, June 1 (MENA) – Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty received a phone call on Sunday from Massad Boulos, Senior Advisor to US President Donald Trump for Arab and Middle Eastern Affairs and Senior Advisor for Africa. Boulos expressed deep appreciation for President Abdel Fattah al-Sisi's warm reception during his recent Cairo visit, describing it as positive and reflective of the strong bilateral ties. They exchanged views on the situation in Libya, Sudan, and the Great Lakes region. Abdelatty shared the outcomes of the tripartite meeting of Libya's neighboring states (Egypt, Algeria, Tunisia), which emphasized the need for preserving Libya's unity and sovereignty and for the withdrawal of foreign forces and militias. Both sides agreed on the importance for achieving stability and ending divisions in the country. On Sudan, Abdelatty reaffirmed Egypt's support for Sudan's unity and stability and highlighted Egypt's positive engagement with efforts to secure a ceasefire and alleviate the people's humanitarian suffering. The two agreed to enhance joint coordination with the US and key stakeholders on Sudan. Regarding the Great Lakes region, the top diplomat welcomed the US-facilitated Declaration of Principles signed by the DRC and Rwanda on April 25, calling it a vital step for peace, stability, and regional development. The two sides agreed to continue working together to achieve the shared goal. (MENA)
Middle East
4 days ago
- Politics
- Middle East
OPEN// FM, Trump's senior advisor mull developments in Sudan, Libya
CAIRO, June 1 (MENA) - Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty received a phone call on Sunday from Massad Boulos, Senior Advisor to US President Donald Trump for Arab and Middle Eastern Affairs and Senior Advisor for Africa. Boulos expressed deep appreciation for President Abdel Fattah El Sisi's warm reception during his recent Cairo visit, describing it as positive and reflective of the strong bilateral ties. They exchanged views on the situation in Libya, Sudan, and the Great Lakes region. Abdelatty shared the outcomes of the tripartite meeting of Libya's neighboring states (Egypt, Algeria, Tunisia), which emphasized the need for preserving Libya's unity and sovereignty and for the withdrawal of foreign forces and militias. Both sides agreed on the importance for achieving stability and ending divisions in the country. On Sudan, Abdelatty reaffirmed Egypt's support for Sudan's unity and stability and highlighted Egypt's positive engagement with efforts to secure a ceasefire and alleviate the people's humanitarian suffering. The two agreed to enhance joint coordination with the US and key stakeholders on Sudan. Regarding the Great Lakes region, the top diplomat welcomed the US-facilitated Declaration of Principles signed by the DRC and Rwanda on April 25, calling it a vital step for peace, stability, and regional development. The two sides agreed to continue working together to achieve the shared goal. (MENA) M S H/R E E
Time of India
10-05-2025
- Politics
- Time of India
China vows to stand by Pakistan in defending its 'sovereignty, territorial integrity', calls it 'iron-clad friend'
China on Saturday said that it would continue to support Pakistan in upholding its "sovereignty, , and national independence", describing the country as an " ." According to Pakistan's Foreign Office, China's foreign minister made these remarks in a phone call with Pakistan's deputy prime minister and foreign minister Ishaq Dar. Tired of too many ads? go ad free now Dar updated Wang on the regional situation, to which Wang nodded approvingly, praising Islamabad's "restraint and appreciated its responsible approach under challenging circumstances". "He reaffirmed that China, as Pakistan's All-Weather Strategic Cooperative Partner and iron-clad friend, will continue to stand firmly by Pakistan in upholding its sovereignty, territorial integrity, and national independence," the Foreign Office said. Separately, Dar also spoke with UAE deputy prime minister and foreign minister Sheikh Abdullah bin Zayed, who welcomed the ceasefire deal between Pakistan and India. Additionally, Dar held discussions with Turkish foreign minister Hakan Fidan to brief him about the regional situation. Earlier, US President Donald Trump announced that India and Pakistan have agreed to a "full and immediate" ceasefire, stating it resulted from US-facilitated discussions. US Secretary of State Marco Rubio described it as a US-brokered ceasefire, praising Prime Ministers Narendra Modi for "his wisdom, prudence, and statesmanship in choosing the path of peace". The ceasefire was announced after both India and Pakistan launched attacks on each other's military sites. However, just hours after the agreement, loud explosions were reported in Srinagar and nearby border areas as Pakistani drones entered Indian airspace.
Zawya
07-04-2025
- Business
- Zawya
Russia-Ukraine Ceasefire Ripple Effect: Possible Impacts on Egypt's Economy
Kyiv had agreed to a comprehensive 30-day ceasefire during US-facilitated discussions on March 11th. However, Russia dismissed this proposal unless it included stipulations to restrict Ukraine's military capabilities, including a halt to foreign military assistance. As a result, Ukraine, Russia, and the US negotiated a limited ceasefire, focusing on energy infrastructure and the Black Sea. Just two days later, Zelensky condemned Russia for attacking energy facilities in Kherson and urged Washington to take action. This recent agreement between the three countries has significant implications for global economies. For Egypt, the ceasefire could offer both immediate relief and long-term opportunities. As a major importer of wheat and a key player in global trade through the Suez Canal, Egypt's economy is deeply intertwined with geopolitical stability. Potential Stabilization of Wheat Markets with a Ceasefire Wheat is one of Egypt's top agricultural imports, valued at around $4.443 billion in 2024, compared to around $3.802 billion in 2023, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). Before the Russian invasion of Ukraine, which started in February 2022, Russia was Egypt's largest wheat importer. In 2021, 61% of Egypt's wheat imports were from Russia, while 25% came from Ukraine, as per Statista. Walid Ramadan, an international trade expert, explains: 'The conflict disrupted supply chains, leading Egypt to diversify its wheat sources. A ceasefire could stabilize global wheat markets, potentially lowering prices and benefiting Egypt's import costs. However, it is crucial for Egypt to maintain the supply chain resilience developed during the conflict.' Additionally, Sahar Mohamed Abdel-Haleim, Assistant Professor of Economics at the British University in Egypt (BUE), tells Arab Finance: 'Half of the flour used in Egypt's subsidized bread program, which serves almost 72 million citizens, depends on imports. The Russian-Ukrainian war disrupted wheat trade. With the grain deal set to expire next month, uncertainties remain about the wheat supply.' 'Therefore, a solid ceasefire would promote expectations about the grain supply chain, which stabilizes the commodity market. This could be enhanced by Putin's attempt to ease sanctions on food producers, exporters, and financial institutions. Moscow also wants to reconnect to the SWIFT payment system, from which it was expelled at the start of the Ukraine war in February 2022,' Abdel-Haleim notes. Meanwhile, Nourhan Nour Eldin, an economist, tells Arab Finance: 'The ceasefire could improve wheat trade, as both Russia and Ukraine are major suppliers. Stability in the Black Sea region would reduce shipping and insurance costs, help restore supply chains, and curb food price inflation. A reduction in regional risks could also prevent sudden increases in global wheat prices, helping Egypt secure its wheat needs at more stable prices.' Potential Effects of a Ceasefire on Egypt's Economy In terms of Egypt's foreign reserves, Ramadan expects that 'stabilization in global markets post-ceasefire could influence these reserves, depending on trade balances and foreign investment flows.' On the other hand, Abdel-Haleim anticipates that 'the ceasefire would alleviate many geopolitical risks that have negatively affected Egypt's economy. This has been reflected in low foreign direct investment (FDI), high business environment uncertainties, a fall in tourism revenue, and a surge in import bill.' Moreover, Nour Eldin explains, 'IF the potential ceasefire materializes, it could be viewed as a 'positive external shock' to the Egyptian economy. The war has led to five key challenges: weakening dollar liquidity, reduced domestic private sector investments, higher sovereign borrowing costs, rising external debt, and lower FDI inflows.' 'While no immediate recovery was observed following the ceasefire announcement in March 2025, it is expected that the end of the war will stabilize dollar inflows and improve investor sentiment in the short term. However, investors will remain cautious until structural economic improvements, such as foreign currency availability, are realized,' she adds. After Russia's invasion of Ukraine, Egypt stood as an important liquified natural gas (LNG) provider to Europe, especially with disruptions of Russian gas supply to Europe. In 2022, Egypt's natural gas exports hit a record high of 8 million tons, up from approximately 7 million tons in 2021. The export value of natural gas for the year reached around $8.4 billion, compared to about $3.5 billion in 2021, marking a 140% year-on-year (YoY) increase. This surge was primarily driven by higher global prices for LNG, as reported by the Ministry of Petroleum and Mineral Resources. Although Egypt's energy security impacted LNG exports in recent years, the country has sealed different deals that have reinforced its position as a natural gas trading hub. In February 2025, Egypt signed memoranda of understanding (MoUs) with Cyprus to receive natural gas from Cypriot fields, to be processed and liquified in Egypt and subsequently exported to the European market. In this regard, Ramadan notes, 'A ceasefire might lead to the resumption of Russian gas supplies to Europe, potentially lowering global energy prices. This could impact Egypt's LNG export revenues. However, stabilized energy prices may reduce domestic energy costs, benefiting local industries and consumers.' Meanwhile, Abdel-Haleim points out, 'The immediate impact of a ceasefire between Russia and Ukraine would be to ease geopolitical tensions and raise expectations of a potential end to the war and a peace agreement. This, in turn, could boost confidence in stabilizing the commodities and energy markets.' The limited ceasefire presents a window of opportunity for Egypt's economy to stabilize and grow. The prospect of stabilized global wheat markets offers a much-needed relief from escalating import costs. The resumption of Russian gas supplies to Europe, while contributing to global energy market stability, could impact Egypt's burgeoning LNG export revenues. Ultimately, Egypt's economic future remains closely tied to the volatile geopolitical landscape. While the limited ceasefire offers a glimmer of hope for stability in key sectors like wheat, Egypt must continue to prioritize supply chain resilience and adapt its economic strategies to navigate the uncertain path towards a more lasting peace in the region. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
