Algeria has decided to ban transshipment through Moroccan ports. A political measure which will directly benefit Spanish ports and will result in increased prices for Algerians.
Container terminal in Casablanca sea port © Mena Today
Algeria has decided to ban transshipment through Moroccan ports. A political measure which will directly benefit Spanish ports and will result in increased prices for Algerians, according to Yabiladi.
In its war against Morocco, Algeria has opened a new front, in the first days of 2024. Algeria's Professional Association of Banks and Financial Institutions (ABEF) has decided to prohibit Algerian banks from providing financial services to any businesses or individuals involved in the transport of goods that transit through Moroccan ports.
Another significant escalation in the ongoing diplomatic and economic dispute between Algeria and Morocco.
ABEF has even urged Algerian companies to take steps to ensure that their goods are not transported through Moroccan ports, reads a document signed by the head of the ABEF on January 10.
The decision by the Algerian Professional Association of Banks and Financial Institutions is likely to add to the financial burden on major international cargo carriers, particularly those transporting goods from South America to Algeria.
The decision is intended to discourage these carriers from turning to Morocco to avoid the new carbon tax imposed by the European Union.
This would involve transshipping goods purchased by Algeria through Moroccan ports.
Egypt’s economic growth rebounded strongly in the third quarter of fiscal year 2024/2025, reaching 4.77%, up from 2.2% during the same period last year, according to Prime Minister Mostafa Madbouly.
Greek lawmakers prepared to vote on legislation on Thursday that would temporarily halt the processing of asylum applications of people coming from North Africa, a move rights groups have called illegal.
The U.N. Mission in Libya urged on Wednesday all Libyan parties to avoid actions or political rhetoric that could trigger escalation or renewed clashes in Tripoli, following reports of continued military buildup in and around the city.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.