US withdraws Aswan aid; Nasser nationalizes Suez Canal

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• Tragedy and Hope pp. 895-897 · open book

  This decision of July 19, 1956, was answered on July 26th, fourth anniversary of the expulsion of King Farouk, by Nasser with the sudden nationalization of the Suez Canal Company so that its profits could be used by Egypt to finance the High Dam.

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