Egypt’s parliament has delayed a vote on authorising its armed forces to support Saudi Arabia, which has come under increasing attack from the Iran-aligned Houthis in Yemen. The vote has been adjourned to October 26, the House of Representatives said on Monday. The move prolongs the debate over Egypt’s role in the Yemeni conflict.
The opposition Egyptian Social Democratic Party said it had told its lawmakers to abstain. The party said parliament had not been given enough information about the mission’s objectives, duration, cost, or the risks to Egyptian troops. However, the party, which holds nearly a dozen seats, said most of its lawmakers support the measure, according to two members of parliament who spoke to the news agency.
The parliament has been tasked with authorising President Abdel Fattah el-Sisi to approve any request from Saudi Arabia for defence assistance amid attacks on the kingdom by Yemen’s Houthis. The call for support came after the Iran-backed rebel group attacked Riyadh’s international airport and the state oil company Saudi Aramco last week. Saudi authorities say 13 people were killed in the October 10 attack on the airport.
El-Sisi said on Saturday that Egypt would take “any measure” needed to protect its Gulf allies. The council gave its approval on Sunday. The Grand Imam of al-Azhar urged Arab and Muslim leaders on Sunday to mediate Egypt’s parliamentary decision and avert further bloodshed.
Saudi Arabia holds an important role in financing Egypt’s rocky economy. It is due to deposit $5.3bn into Egypt’s central bank this month, plus $267.39m in interest. Egypt’s EGX30 stock index fell early on Monday amid concerns about possible military involvement but recovered to close 0.4 percent higher.
Nematallah Choucri, head of research at HC Securities, told the news agency that geopolitical developments are the main driver of recent market losses. Egypt is also affected by the shortage of oil and gas exports from the Middle East due to the United States war on Iran and fighting in Yemen. Egypt’s economy is heavily dependent on remittances from Egyptians working in the hydrocarbons industry in Saudi Arabia.
Extract — continue reading at the source.
