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.
Morocco has announced an ambitious plan to fully phase out coal power by 2040—if international climate finance is secured—according to a statement by the Powering Past Coal Alliance (PPCA), a global coalition of governments and organizations working to accelerate the transition from coal to clean energy.
Belgium has become the latest Western nation to endorse Morocco's autonomy proposal as a solution for the decades-long Western Sahara dispute, according to a joint Moroccan-Belgian declaration signed Thursday.
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