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07.07.21 14:00

Economics

Ever Given, the ship that blocked Suez Canal, released after settlement reached

Egyptian authorities demanded $550 million in compensation

The Ever Given cargo ship, which blocked the Suez Canal in the month of March, was released on Wednesday after it was allowed leave by Egyptian authorities.

The ship is bound to Rotterdam, Russian news agency Sputnik reported on Wednesday. This comes after the owner and insurers reached a compensation settlement with the canal authority. Earlier, Egyptian authorities were demanding 550 million US dollars in compensation from the Japanese owner of a cargo ship that blocked the Suez Canal for nearly a week in March.

The Ever Given was stuck in early March, paralyzing the crucial waterway. The ship was refloated on March 29 by a fleet of 15 tugboats.

TV BRICS reports with reference to ANI.

Photo: flickr.com

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"We are happy that the Russian Federation is chairing the BRICS framework. We have decided to participate at the highest level in all BRICS events that are taking place in the Russian Federation"