In 1956, Nasser seized the Suez Canal from the French and British companies that controlled it. His plan was to nationalize the canal to raise money to build the Aswan Dam, and needed cash after the Americans and British withdrew a pledge to help fund it. But Nasser’s seizure of the Suez Canal created the “Suez Crisis” for a week because many nations, including Israel, relied on the Canal for shipping. The British and French provided air support for an invasion by Israeli troops, which easily overcame Egyptian resistance. But then the Soviet Union threatened to intervene on behalf of Egypt, creating a risk of a world war. Nasser was then allowed to keep the canal, and international pressure by the United States caused Britain, France and Israel to back off. | In 1956, Nasser seized the Suez Canal from the French and British companies that controlled it. His plan was to nationalize the canal to raise money to build the Aswan Dam, and needed cash after the Americans and British withdrew a pledge to help fund it. But Nasser’s seizure of the Suez Canal created the “Suez Crisis” for a week because many nations, including Israel, relied on the Canal for shipping. The British and French provided air support for an invasion by Israeli troops, which easily overcame Egyptian resistance. But then the Soviet Union threatened to intervene on behalf of Egypt, creating a risk of a world war. Nasser was then allowed to keep the canal, and international pressure by the United States caused Britain, France and Israel to back off. |