Suez Crisis: A threat to European oil supply ///

In July 1956, Egyptian President Gamal Abdel Nasser announced the nationalization of the Suez Canal, which was a primary conduit for oil export shipments. It has been suggested that this action was in response to a refusal by the U.S. and Britain to help fund Egypt’s Aswan Dam project. The U.S. and Britain cited the Egyptian economy as the reason, but many analysts believe it was because of Egypt's decision to recognize China and buy weapons from Czechoslovakia.

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