President Sisi urges Trump to intervene in Gulf conflict, warns of global economic crisis
via Egypt Today2 min read
President Abdel Fattah al-Sisi on Monday called on U.S. President Donald Trump to intervene to end the ongoing conflict in the Gulf. Speaking at the Egypt International Energy Exhibition and Conference, Sisi warned that a prolonged war could send oil prices soaring above $200 per barrel and trigger a global food crisis. He described the U.S. as the world's "great superpower" and the only force capable of halting the escalation. Sisi recalled his previous discussions with Trump regarding the war in Gaza, noting that the U.S. president鈥檚 involvement was instrumental in reaching a peace plan and halting that conflict. The president warned of a "double shock" to the global economy: a severe supply shortage followed by a massive price hike, noting that nearly 25% of global energy supplies moving through the Gulf have faced significant transport crises. Sisi expressed deep concern that the targeting of production facilities or refineries could lead to catastrophic consequences. Beyond energy, Sisi highlighted the threat to global food security for 8 billion people, explaining that the conflict disrupts the production of fertilizers, which will cause sharp price increases that fragile and middle-income economies may not be able to withstand. He urged energy companies to intensify exploration efforts for oil, gas, and renewable energy to mitigate the crisis. Sisi also lauded strategic cooperation with Cyprus, specifically thanking President Nikos Christodoulides for the use of Egypt'
Free daily or weekly digest of the most important stories from across 18 African countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by Egypt Today.
Must ReadEgypt has condemned repeated Iranian attacks targeting Kuwait, Bahrain, Oman, and Jordan, stating that these actions violate state sovereignty. In a statement, the Egyptian Foreign Ministry described the hostile actions against the four Arab nations and their regional infrastructure as an unacceptable threat to Arab national security and territorial integrity. Cairo warned that such maneuvers are a dangerous escalation that could widen the conflict and fuel instability in the Middle East. Egypt reaffirmed its rejection of hostile practices that jeopardize the safety of neighboring populations or critical state assets, emphasizing its solidarity with the impacted nations and pledging full support for their domestic stability. Egypt called for an immediate cessation of all hostile operations, urging regional actors to respect international law, uphold good neighborliness, and prevent further military escalation.
Prime Minister Mostafa Madbouly chaired a meeting to monitor the progress of Egypt's state asset divestment program, part of the second edition of the State Ownership Policy document for 2026-2030. The program aims to increase private sector participation, maximize returns on state assets, improve management, attract investments, and strengthen business confidence. The Prime Minister noted that 20 of the 30 companies announced under the government's initial public offering program have secured temporary listings on the Egyptian Exchange, with procedures underway for four more. These include 10 companies from the petroleum sector and 10 from the public business sector. Temporary listing is the first step, followed by valuation studies, registration with the Financial Regulatory Authority, and final listing and trading. The government plans to begin registration of the first temporarily listed companies with the regulator before year-end. The Deputy Prime Minister for Economic Affairs discussed the institutional framework for implementing the State Ownership Policy, while the Investment Minister reviewed preparations for offering a stake in Misr Life Insurance.
Must ReadEgypt's Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates Badr Abdelatty and Saudi counterpart Prince Faisal bin Farhan Al Saud, stressed the importance of safeguarding freedom of navigation in the Strait of Hormuz in accordance with international law. They highlighted the need to ensure the security and safety of international maritime navigation, prevent obstruction to shipping, and reject attempts to impose restrictions on passage through international waterways, warning of negative consequences for the global economy and energy security. The ministers also condemned repeated Iranian attacks targeting several Arab countries, including Gulf states and Jordan, describing them as a violation of state sovereignty and a threat to regional security. They called for an immediate halt to escalatory acts. These remarks were made during a phone call as part of ongoing consultations between Egypt and Saudi Arabia on bilateral relations and regional developments. They praised progress in bilateral ties and reaffirmed commitment to strengthening cooperation. The ministers also exchanged views on regional de-escalation efforts and discussed the role of the regional quartet Egypt, Saudi Arabia, Turkey, Pakistan for consultation and coordination. They commended the momentum in Egyptian-Saudi relations and discussed regional issues including developments in Sudan, Libya, and the Red Sea, emphasizing close coordination on matters of mutual concern.