Official source denies Israeli reports Egypt is preparing Yemen intervention

CAIRO – 5 January 2025: An official Egyptian source has dismissed Israeli reports regarding alleged preparations for Egyptian military intervention in Yemen, calling such claims “baseless.”

“Such reports contain misleading information that has no basis in fact,” the source stated, as reported by Al Qahera News on Sunday.

Recent Israeli reports suggested that Cairo is preparing for a potential military action involving fighter jets against the Houthis, in light of the Yemeni group’s attacks on Red Sea navigation.

Tensions in the Red Sea have significantly impacted Suez Canal revenues over the past year, with the canal's earnings for 2024 showing a sharp decline of over 60% compared to 2023.

This decline translates to an estimated loss of nearly $7 billion for Egypt, according to the Egyptian Presidency.

Since the onset of the Israeli war in Gaza in October 2023, the Houthis have launched numerous attacks on ships linked to Israel.

They have claimed that these attacks are acts of solidarity with the Palestinian people and will continue until Israel ceases its aggression in Gaza.

A US-led military coalition has been active in the Red Sea since late 2023 to counter these attacks, frequently striking targets in Houthi-controlled areas of Yemen.

However, the Houthi attacks have persisted, prompting many ships to reroute from the Suez Canal to the significantly longer Cape of Good Hope route.

Despite the serious impact on the Suez Canal, a major source of foreign currency for the country, Egypt has not joined the coalition to date.