Rare Trip
Chinese President Xi Jinping is set to arrive in Egypt on Tuesday, making a rare trip to the Middle East as both countries face the threat of US sanctions over financial links to Iran. The months-long Middle East war, which began when the United States and Israel launched strikes against Iran on February 28, has thrown the crucial trade region into crisis.
Washington vowed last month to destabilise Iran economically, warning of expanded sanctions against Tehran's backers and partners that could hit Egyptian and Chinese banks, among others. Xi's visit "comes at a time when China's economic interests are directly exposed to the US-Iran war," said Gamal Salama, political science professor at Egypt's Suez University.
Banque Misr cut off
As part of its economic pressure campaign, Washington last week said it would cut off the operations of Egypt's Banque Misr in the UAE from the US financial system. China, a major buyer of Iranian oil, has presented itself as a neutral party in the conflict, repeatedly calling for a lasting ceasefire.
The Chinese and Egyptian militaries carried out joint air combat exercises in August that featured Beijing's powerful J-16 fighter jet. Xi's meeting with President Abdel Fattah al-Sisi, scheduled for Wednesday, follows a visit to Beijing by Jordan's King Abdullah II. Xi and Sisi are expected to discuss the Gaza war, Iran, and shipping in the Red Sea and the Strait of Hormuz.
"China sees Cairo as a strategic power broker," said Salama. "Egypt's relations with both Washington and regional actors give Beijing both political access and diplomatic leverage across a region where China wants a much greater say."