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Tragedy: new sanctions from KSA on Lebanon !

Tragedy: new sanctions from KSA on Lebanon

 The escalatory measures taken by the Gulf states towards Lebanon continue, with negative repercussions on the economic sector. After the decision to stop exports from Lebanon, a new Saudi decision was issued to prevent Lebanon from using sea transit lines through Saudi ports, i.e. exporting from Lebanon to other countries via Saudi ports.

A large number of containers containing Lebanese goods have been stuck in Saudi ports, which may have disastrous effects on the exhausted private sector as a result of the economic crisis in Lebanon.

Commenting on this topic, the economist Louis Hobeika confirmed in an interview with "Lebanon Debate", that "losses are multiplied and things are receding, and to find an alternative to Saudi ports, the cost of transportation will be much higher." ?

He stressed that "the problem is great for the goods stuck on land or sea, as for those that are still in Lebanon, another route must be found via the sea or the adoption of export via air according to the quality of the goods," but added: "The problem here is that the high cost It will affect sales, and this will leave its negative effects on industrialists and farmers who have worked for years to open markets that have no alternative at the present time.” ?

He said: "Before this crisis, we had always advised that Lebanon should diversify and expand its markets. The matter has nothing to do with politics for security and safety. All countries do that, as we can go to the markets of Africa, for example. The crisis came and we saw that we do not have an alternative market, and the solutions They don't seem to be quick on the political issue." ?

In conclusion, Hobeika warned that "the Lebanese economy is in trouble today, unless alternative markets are found."

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