Nationalization of Suez Canal

The nationalization of the Suez Canal occurred in 1956 when Egyptian President Gamal Abdel Nasser took control of the canal, previously operated mainly by British and French interests. This move aimed to assert Egypt's sovereignty and use the canal's revenue for national development. The canal is a vital global shipping route connecting the Mediterranean and Red Seas. Nasser's decision led to a military response from Britain, France, and Israel, but international pressure, notably from the United States and the Soviet Union, compelled the invading forces to withdraw. This event marked a significant shift towards greater Arab independence and control over regional resources.