Has the operation of the Suez Canal been sold to foreigners? Announcement from Egypt

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Usama Rebia, General Manager of the Suez Canal Administration, responded to the allegations made on social media by connecting to the MBC television channel in Egypt.

Rebia said that the allegations that the operating rights of the Suez Canal were given to a foreign company for 99 years were not true.

‘AGREEMENT TEXT IS FAKE’

Emphasizing that the text of the agreement circulating on social media is completely fake, Rebia stated that the Suez Canal administration is under the sovereignty of Egypt, and that there is no technical deficiency in the management of the canal, and that the personnel are sufficient.

Rebia stated that the operation of the Suez Canal by someone other than Egypt is in no way considered and it is not possible, and that the canal brought in 8 billion dollars in 2022 and 6 billion 300 million dollars in the previous year.

On the other hand, the Suez Canal Administration made a statement on its official website and announced that legal action would be taken against the pages and people who make broadcasts that are not related to reality.

WHAT HAPPENED?

In a post on Twitter, a 94-page document, signed by the country’s President Abdulfettah es-Sisi and Prime Minister Mustafa Medbuli, was published, stating that the operating rights of the Suez Canal in Egypt were transferred to a foreign company for 99 years.

Among those who shared the document was Mahmud Vehbe, an Egyptian-born academic and businessman living in the USA. The document was previously shared by an Israeli journalist named Edy Cohen.

The signed and stamped 94-page document, which was stated to be fake, contained the details of the agreement regarding the transfer of the operating rights of the Suez Canal to an international consortium headquartered in England for 99 years. (AA)

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