IBOV 185,147.15 ▼ 0.02% IPSA 11,315.26 ▼ 1.14% IPC MEX 64,639.55 ▼ 0.35% MERVAL 3,041,993 ▼ 0.23% COLCAP 2,556.17 ▲ 0.46% BVL PERÚ 59,789.81 ▼ 0.24% USD/BRL5.13▼ 0.01% USD/MXN16.93▲ 0.30% USD/CLP933.33▼ 0.13% USD/COP3,122▼ 0.26% USD/PEN3.36▲ 0.10% USD/ARS1,510▲ 0.08% USD/UYU40.24— 0.00% USD/PYG5,947— 0.00% USD/BOB12.40— 0.00% USD/DOP59.00— 0.00% USD/CRC448.67— 0.00% USD/GTQ7.63— 0.00% USD/HNL26.84— 0.00% USD/NIO36.62— 0.00% USD/VES811.71▲ 0.66% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.71— 0.00% EUR/BRL5.96▲ 0.24% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 185,147.15 ▼ 0.02% IPSA 11,315.26 ▼ 1.14% IPC MEX 64,639.55 ▼ 0.35% MERVAL 3,041,993 ▼ 0.23% COLCAP 2,556.17 ▲ 0.46% BVL PERÚ 59,789.81 ▼ 0.24% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Africa Middle East

Sudan Severs Ties with UAE: Red Sea Port Deal Cancelled Amid Conflict Allegations

By · November 4, 2024 · 2 min read

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Sudan has terminated a $6 billion agreement with the United Arab Emirates to develop a new Red Sea port. The decision comes as tensions rise between the two nations.

Sudan accuses the UAE of supporting the Rapid Support Forces in the ongoing conflict. Finance Minister Gibril Ibrahim announced the cancellation on November 3, 2024, in Port Sudan.

He stated that Sudan would not cede “a single centimeter” of its coastline to the UAE. The move signals a shift in Sudan’s foreign policy and economic strategy.

The cancelled project, known as Abu Amama Port, was part of a larger investment package. It included a free trade zone and an agricultural project.

The deal also promised a $300 million deposit to Sudan’s central bank. Sudan signed the agreement in December 2022 with AD Ports Group and Invictus Investment.

Sudan Severs Ties with UAE: Red Sea Port Deal Cancelled Amid Conflict Allegations
Sudan Severs Ties with UAE: Red Sea Port Deal Cancelled Amid Conflict Allegations.
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The port was to be located 200 km north of Port Sudan. It aimed to boost Sudan’s trade capabilities and economic growth.

The cancellation reflects growing concerns over foreign influence in Sudan’s affairs. It also highlights the complex geopolitical dynamics in the region.

Sudan’s Sovereignty and Regional Dynamics

Sudan seeks to assert its sovereignty amid ongoing internal conflicts. The UAE‘s alleged support for the Rapid Support Forces has strained relations.

The paramilitary group has been fighting government forces since April 2023. This conflict has caused significant humanitarian crises and political instability.

Sudan’s decision may impact its relationships with other regional powers. Countries like Saudi Arabia and Egypt also have interests in the Red Sea. The move could reshape alliances and power dynamics in the area.

The cancellation may pose economic challenges for Sudan. The country faces high inflation, currency devaluation, and rising prices.

However, it also opens opportunities for local development and job creation. Residents of eastern Sudan have welcomed the decision.

They hope for investments that prioritize local benefits over large-scale foreign projects. This sentiment reflects a desire for economic autonomy and sustainable development.

Sudan’s government now faces the task of balancing national interests with international relations. It must address the humanitarian crisis while maintaining its sovereignty.

The country’s approach to foreign investments may shift in light of these events. The situation underscores the delicate balance between economic growth and national security.

Sudan’s leaders must navigate these challenges while working towards stability and prosperity. The coming months will reveal the long-term impacts of this decision on Sudan’s future.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error

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