Egypt is preparing to host a delegation from Yemen's Houthi rebel group for talks, reports said.
The Houthis are an Iranian proxy group which for the past several months have carried out attacks in the Red Sea area.
According to Egyptian media reports, the diplomatic initiative is in coordination with Saudi Arabia and Turkey, and aims to reduce security tensions in the Red Sea.
Egypt has a vested interest in the talks, due to the effect of the Houthis' attacks on ships sailing the Red Sea: The increased tensions have caused a drastic reduction in the number of ships traveling the area, causing a significant hit to the amount of income Egypt receives from vessels paying to transit the Suez Canal.
The reports also said that Egypt is holding negotiations with both the Houthis and Iran, in an effect to resolve the political crisis in Yemen. It is for this reason that Egypt's Foreign Minister Badr Abdelatty is expected to visit Tehran in the coming days.
In January, the London-based Al-Araby Al-Jadeed reported that senior officials in the Egyptian government have turned to Yemen's Houthi rebel group demanding that they reduce their attacks on vessels sailing the Red Sea, and instead focus their attacks only on Israeli vessels.
According to the report, officials sources in Cairo offered the Houthis to focus their activities solely on vessels bound for Israel or which have ties to Israelis.
Egypt's attempts to engage the Houthis follow a steep loss of income from Red Sea transit compared to the same period last year: According to Egyptian television, income from transit fees through the Suez Canal in January 2024 dropped 40% compared to the same period last year, and ship traffic between January 1-11 was 30% lower than during the same period in 2023.