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Egyptian Gazette
Home Egypt

PM follows up on economic repercussions

by Gazette Staff
June 13, 2025
in Egypt, World
PM follows up on economic repercussions 1 - Egyptian Gazette
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Egypt condemns Israeli military attacks on Iran, warns of regional chaos

Egypt has strongly condemned Israeli military attacks against Iran on Friday, labeling them a “blatant and extremely dangerous regional escalation.” In a statement released on Friday by the Ministry of Foreign Affairs and Egyptian Expatriates, Cairo asserted that these assaults are a “flagrant violation of international law and the UN Charter,” posing a direct threat to both regional and international peace and security.

Egypt is following the rapidly escalating developments with deep concern, warning that this “unjustified act” will further intensify the crisis and could lead to a wider conflict in the region. The statement cautioned against unprecedented repercussions for regional security and stability, expressing grave concern about the entire region descending into “utter chaos.”

“Egypt reiterates its affirmation that there are no military solutions to the crises facing the region, but rather political and peaceful solutions,” the statement declared. It firmly reaffirmed that “the arrogance of force will not achieve security for any country in the region, including Israel.” Cairo stressed that true security can only be achieved through respecting the sovereignty, unity, and territorial integrity of states, achieving justice, and ending the Israeli occupation of Arab lands.

Cabinet responds to regional tension

Prime Minister Moustafa Madbouli announced that the Egyptian government is “closely monitoring” the situation following the Israeli military operation in Iran. He stated that the Central Bank of Egypt (CBE) and the Ministry of Finance are coordinating efforts to boost Egypt’s strategic reserves of essential commodities.

In light of the ongoing regional developments, Madbouli also indicated that a meeting will be held with the Ministers of Electricity and Petroleum. The purpose of this meeting is to review potential scenarios and assess the repercussions of military events in the region.

Large-scale strikes

Israel launched large-scale strikes against Iran on Friday, saying it had targeted nuclear facilities, ballistic missile factories and military commanders at the start of a prolonged operation to prevent Tehran from building an atomic weapon.

Iran promised a harsh response and Israel said it was working to intercept about 100 drones launched towards Israeli territory in retaliation.

But around 08:00 GMT, Israeli media said an order to citizens to remain near protected areas had been lifted, suggesting that most or all the drones had been neutralised.

The price of crude oil leapt on fears of retaliatory attacks on a major oil producing region, but then eased back somewhat.

An Israeli security source said Israeli Mossad commandos had operated deep inside the Islamic Republic before the attack and the Israeli spy agency and military had led a series of covert operations against Iran’s strategic missile array.

Israel also established an attack-drone base near Tehran, the source added. The military said it had carried out a large-scale strike against Iran’s air defences, destroying “dozens of radars and surface-to-air missile launchers”.

Iranian media and witnesses reported explosions including at the main uranium enrichment facility at Natanz.

Iran’s elite Revolutionary Guards Corps said its top commander, Hossein Salami, had been killed and state media reported the unit’s headquarters in Tehran had been hit. Several children were killed in a strike on a residential area in the capital, they said.

Tags: economic repercussionsFollows upPM
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