Egypt’s Sisi considers military courts for price gougers amid regional crisis

Egypt President Abdel Fattah al-Sisi said on Friday he has instructed officials to study the possibility of referring those who manipulate commodity prices to military courts, describing the current economic climate as a “state of near-emergency.” 

Speaking during an Iftar event organised by the Egyptian Military Academy, Sisi warned against the exploitation of global and regional circumstances to raise prices or manipulate the needs of the public. “Rest assured that, by the grace of God, we are fine,” the president said, while urging citizens to continue exercising responsibility and understanding based on study and facts.

Addressing the ongoing conflict in the Middle East, Sisi stated that Egypt had been keen to prevent the current escalation, noting that the country’s experience shows wars bring nothing but “ruin, destruction, and damage to the interests and capabilities of peoples.” He confirmed that Egypt is maintaining “sincere and honest” mediation efforts to halt the war, warning that its continuation would exact a “heavy price.”

The president characterised the conflict as a reflection of “errors in calculations and estimates.” He noted that while Egypt had faced significant challenges and “conspiracies” in recent years, it had exercised what he termed “beautiful patience.” This approach, he said, has proven successful and has been applied in the state’s dealings with other nations.