Egypt's National Defence Council, chaired by President Abdel Fattah el-Sisi, declared Sunday that Cairo stands "fully with" Saudi Arabia and is prepared to provide "all necessary and possible support" to defend Saudi territory, resources, and Islamic holy sites. The announcement follows escalating Houthi strikes on Riyadh's international airport and Saudi Aramco facilities after a Yemen truce collapsed. The strategic logic is explicit and transactional. Egypt's Suez Canal revenue depends on Red Sea shipping traffic — the same traffic Iran-aligned Houthis are threatening. When Sisi says Saudi security is "an integral part of Egypt's national security," he is describing an economic fact, not performing diplomatic courtesy. A disrupted Red Sea is a disrupted Suez Canal, and a disrupted Suez Canal is a fiscal crisis for Cairo. Sisi has called an emergency parliamentary session to authorise defence assistance to Saudi Arabia if Riyadh formally requests it. He framed Egypt's actions as guided by Saudi King Salman and Crown Prince Mohammed bin Salman, who visited Cairo last month as Yemen fighting reignited. The parliamentary session is underway Sunday. This is sequenced for speed, not deliberation. The Houthis — formally Ansar Allah — have intensified attacks after the collapse of the Yemen truce, targeting both Saudi military and energy infrastructure. Saudi Arabia accuses Iran of encouraging the attacks, which Tehran denies. The pattern is familiar: proxy strikes on energy chokepoints, followed by diplomatic escalation and military commitments. Egypt's commitment deepens the Saudi-Egyptian axis in a way that carries real costs and risks. Egyptian forces deployed in or near Yemen would strain a military already stretched by domestic security demands and a struggling economy. But the alternative — watching Iran-aligned forces dominate Red Sea shipping while Suez revenues evaporate — is arguably worse for Cairo. The diplomatic framing includes a nod toward de-escalation, with the presidency stating Cairo would "intensify diplomatic efforts." This is standard hedging: the military commitment is concrete and parliamentary; the diplomatic language is aspirational and vague. What this actually is: two states whose economic survival depends on the same waterway formalising a mutual defence posture against a non-state actor backed by a regional rival. The Red Sea is the mechanism. Everything else is framing.