Red Sea Conflict Hits Egypt, Other Parts of the Region

FILE - A cargo ship sails past the town of Ismailia, Egypt, March 30, 2021. Egypt, the Red Sea and bordering countries

Egypt's economy is facing serious hurdles after revenue from the country's most strategic asset — the Suez Canal — has dropped by nearly half. Attacks by the pro-Iranian Houthi militia group on ships passing by Yemen has made merchant ships avoid the Red Sea and the canal.