×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Russia Ready to Consider Helping Egypt Financially

Morsi supporters wear and hold masks of him at a rally in Cairo on Friday. Mohamed Abd El Ghany

Russia could provide financial support to Egypt if the Kremlin receives a request for help from the North African country, currently beset by serious social unrest, a Foreign Ministry official said Friday.

“I don't rule out that they might ask for some economic help, as they already have from some Gulf countries,” Deputy Foreign Minister Mikhail Bogdanov told RIA Novosti. “[Egypt's] economy is in dire straits for sure,” said Bogdanov, who is also the President's special envoy to the Middle East.

He pointed out that countries like Saudi Arabia, the United Arab Emirates and Kuwait had already promised to support Egypt financially.

Russia could channel some funds from the federal budget to the struggling economy, while the private sector could also get involved, Bordanov said. “Private companies are studying the conditions of providing such help so that it will be used effectively and be within the framework of developing our bilateral ties,” he added.

Egypt's new administration under acting President Adly Mansour is keeping the Russian government informed about the situation in the country and Moscow “will consider” any requests for help received from the country, Bogdanov said.

Running street protests resulting in the depletion of currency reserves pose a serious threat to Egypt's food security, according to a report by the Food and Agriculture Organization of the United Nations published Thursday.

Mohamed Morsi, Egypt's former president, was overthrown on July 3 after days of mass protests in Cairo.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more