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Authority negotiates settlement over Suez Canal blockage

Suez Canal

Osama Rabie, chairman of the Suez Canal Authority, said authorities are negotiating an out of court financial settlement with Japan-based Shoei Kisen Kaisha Ltd., the Ever Given vessel owner that blocked the waterway, ABC News reported citing The Associated Press. The authority recently said it was expecting over $1 billion in compensation, warning the ship would be disallowed to leave if the issue turns into a legal dispute.

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