Egypt's El Sisi orders new emergency agency to build up strategic reserves

Egyptian President Abdel Fattah El Sisi has established a new agency to investigate the establishment of strategic reserves aimed at helping the nation manage emergencies. This decision comes as concerns mount over the potential resumption of full-scale hostilities between Iran and the United States, which could disrupt supply chains.

The presidential statement released on Saturday outlined the president's desire for the authority to "study the creation of strategic reserves for the state to counter emergency situations in coordination with the country's institutions". Last week, El Sisi had cautioned that military escalation would have "disastrous" consequences for the region and the entire world, urging all stakeholders to seek a diplomatic resolution before it's too late.

Despite being largely spared from the ongoing Middle East conflicts since the Iran war began on February 28, Egypt has experienced a drone strike that set ablaze a gas tanker at the Mediterranean port of Damietta in July, though no one claimed responsibility. The El Sisi administration has recently announced plans to deploy troops in Saudi Arabia to protect its ally and benefactor against potential attacks by Yemen's Iranian-backed Houthis.

While parliament has approved the deployment, there is no confirmation yet if Egyptian forces have arrived in Saudi Arabia. Security sources revealed that Egypt's armed forces have been placed on high alert, with air defense systems enhanced along the Red Sea coastline and at the Suez Canal in anticipation of a possible escalation from renewed hostilities.

The country, home to 110 million people, has been closely monitoring its strategic reserves of essential food items, primarily wheat flour, due to fears that major hostilities in the Red Sea could disrupt supply chains. The government confirmed last month that the nation has enough reserves of essential food items to last six months.

Around the same time, the state importer Future of Egypt made one of its largest purchases in six months, buying five cargoes of wheat.