WORLD HISTORY

Detailed explanation-1: -Supported by Soviet arms and money, and furious with the United States for reneging on a promise to provide funds for construction of the Aswan Dam on the Nile River, Nasser ordered the Suez Canal seized and nationalized, arguing tolls from the ships passing through the canal would pay for the Aswan Dam.

Detailed explanation-2: -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-3: -The 1956 Suez Crisis, when Britain along with France and Israel invaded Egypt to recover control of the Suez Canal, was arguably one of the most significant episodes in post-1945 British history. Its outcome highlighted Britain’s declining status and confirmed it as a ‘second tier’ world power.

Detailed explanation-4: -Suez Crisis, (1956), international crisis in the Middle East, precipitated on July 26, 1956, when the Egyptian president, Gamal Abdel Nasser, nationalized the Suez Canal. The canal had been owned by the Suez Canal Company, which was controlled by French and British interests.

Detailed explanation-5: -In nationalizing the Suez Canal, which the Egyptian government had every right to do President Nasser guaranteed full compensation to the stockholders of the old Suez Canal Company and freedom of navigation through the Canal to all ships of all nations.