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The Suez Crisis begins when Egyptian President Gamal Abdel Nasser nationalizes the British and French-owned Suez Canal.
The Suez Canal, which connects the Mediterranean and Red Seas across Egypt, was completed by French engineers in 1869. For the next 87 years, it remained largely under British and French control, and Europe depended on it as an inexpensive shipping route for oil from the Middle East.
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 the construction of a massive dam on the Nile River. In response, Israel invaded in late October, and British and French troops landed in early November, occupying the canal zone. Under Soviet, U.S., and U.N. pressure, Britain and France withdrew in December, and Israeli forces departed in March 1957. That month, Egypt took control of the canal and reopened it to commercial shipping.
Obverse
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Depicts headquarter of the Suez Canal Company building in Port Said above it 50 within zero abbreviate of Suez Canal in Arabic and in the front of it a ship with date 1956 (small one) and other ship with date 2006 (big one). Inscription "Golden Jubilee Suez Canal Nationalization" above. العيد الذهبي لتاميم قناة السويس |
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Reverse
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Denomination divides dates (Gregorian and Hegira), legend "Arab Republic of Egypt" above. جمهورية مصر العربية |
Edge |
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50th Anniversary of the Nationalization of the Suez Canal
50th Anniversary of the Nationalization of the Suez Canal