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Economy / Egypt

Egypt

November 2008 | Risk Summary

An Egyptian court has ruled in favour of a motion to ban natural gas exports to Israel. Egyptian natural gas consortium EMG began exporting the shipments under a US$2.5bn deal, which was originally struck in 2005, in April, but the opposition Muslim Brotherhood objected strongly, with one of the group's parliamentary representatives, Husan Ibrahim, calling it 'a disaster that must be stopped'. As well as having negative economic implications, given an already deteriorating export outlook, the decision is also a reminder of the strong influence of the Muslim Brotherhood (which is thought to be behind the campaign against the

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