Riyadh and Cairo call for free and secure shipping in Red Sea
Saudi Crown Prince Mohammed bin Salman and Egyptian President Abdel Fattah al-Sisi called for free and secure navigation in the Red Sea during talks in Cairo on Tuesday, as the kingdom vowed to respond "firmly" to attacks by Yemen's Houthis.
The regional powers discussed the threat posed by the Iran-backed group's control over the Bab al-Mandab Strait, a key shipping route vital to both Saudi oil exports and Egypt's Suez Canal revenues.
They called for "ensuring the freedom and security of maritime navigation" through the straits of Hormuz and Bab al-Mandab, the Egyptian presidency said, adding that Sisi affirmed Egypt's support for measures taken by the kingdom "to protect its security and stability."
The Bab al-Mandab, the southern gateway to the Red Sea and the Suez, has become essential to Saudi oil exports this year after Iran blocked the Strait of Hormuz during the Middle East war, throttling shipments via the Gulf.
Last week, the Houthis seized control of all of Yemen's Red Sea coast and the Bab al-Mandab, threatening the last direct route to Asian markets for the world's largest oil exporter.
Since the Houthis declared a naval blockade on Saudi Arabia in July, the kingdom has relied more heavily on Egypt to export oil, chiefly through its Sumed pipeline.
Crude is transported from the Saudi Red Sea port of Yanbu to Egypt's Ain Sokhna, and carried overland through the pipeline to the eastern Mediterranean at Sidi Kerir.
But a recent drone attack, which Riyadh said was launched from Iraq, forced it to shut the East-West pipeline that feeds Yanbu, pushing global oil prices above the $100 threshold.
Disruption to shipping through Bab al-Mandab could hit Egypt with heavy losses too, with Cairo reliant on Suez Canal tolls for crucial foreign revenue.
Revenues from the waterway are currently around half of what they were before the Houthis first started attacking ships in the Red Sea in 2023, a campaign they said was in solidarity with Palestinians during Israel's war against Hamas in Gaza.
Egypt recorded $4.67 billion in Suez Canal revenues for the 2025/2026 fiscal year, down from $8.8 billion in 2022/2023.
IMF PortWatch data analysed by AFP also showed that average daily transits through the Suez remain at little more than half their pre-Gaza War level.
Egyptian Foreign Minister Badr Abdelatty said last week that Cairo's Suez Canal losses stood at $11 billion.
According to Mirette Mabrouk of the Washington-based Middle East Institute, the Saudi crown prince "will be looking for reassurance that, if necessary, he will have Egypt's support" in securing Bab al-Mandab.
US media reported last week that President Donald Trump had rejected a request from Prince Mohammed to intervene in the war.
Yet Cairo, known for its conservative foreign policy and penchant for mediation, "is not going to be pushed into a military fight that it does not think is in its interest, or one that can be avoided," Mabrouk told AFP.
