WORLD HISTORY

Detailed explanation-1: -On July 26, 1956, Egyptian President Gamal Abdel Nasser announced the nationalization of the Suez Canal Company, the joint British-French enterprise which had owned and operated the Suez Canal since its construction in 1869.

Detailed explanation-2: -After World War II, Egypt pressed for evacuation of British troops from the Suez Canal Zone, and in July 1956 President Nasser nationalized the canal, hoping to charge tolls that would pay for construction of a massive dam on the Nile River.

Detailed explanation-3: -When did the Suez Crisis take place? The Suez Crisis was an international crisis in the Middle East that was precipitated on July 26, 1956, when the Egyptian president, Gamal Abdel Nasser, nationalized the Suez Canal. The canal was owned by the Suez Canal Company, which was controlled by French and British interests.

Detailed explanation-4: -The canal was the property of the Egyptian government, but European shareholders, mostly British and French, owned the concessionary company which operated it until July 1956, when President Gamal Abdel Nasser nationalised it-an event which led to the Suez Crisis of October–November 1956.

Detailed explanation-5: -Suez Canal Authority (SCA) is an Egyptian state-owned authority which owns, operates and maintains the Suez Canal. It was set up by the Egyptian government to replace the Suez Canal Company in the 1950s which resulted in the Suez Crisis.