How did Egypt Take The Suez Canal?
The Suez Canal is one of the world’s busiest maritime channels. It links the North Atlantic to Asia via the Mediterranean Sea to the Red Sea and then to the Indian Ocean.
The Suez Canal plays a crucial role in the international oil trade with tankers going to and from the Middle East to Asia, Europe, and North America.
The canal runs about 190 kilometers through Egypt. Starting in the north from the Mediterranean at Port Said and running down to the Gulf of Suez in the Red Sea.
These days, the Suez Canal is managed and operated by the Egyptian government, through the Suez Canal Authority. Its annual revenue is estimated at around $5 billion dollars and it accounts for almost 10% of world seaborne trade.
Background Music:
Kevin MacLeod – Echoes of Time
Kevin MacLeod – Decisions
4 Comments
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Egyptians own less then 50% of the total shares of the ownership of the Suez Canal so technically they do not own it and we all know what happened when the Egyptians tried to nationalize the canal and take control of it for the benefit of his people and nation and not for exploitation by foreign empires. Even offered to legally and in good faith buy out the majority ownership of shares so it would be legitimate and forthcoming but of course that was shot down and Egypt chose to do what it felt it had to do for its own self interests and you know who didn’t like those pesky Egyptians trying to exercise it’s free will and self sovereignty so they did what any tyrannical government at the time would of done in that time and suddenly started falsely smelling Soviet and Communistic influences and that was obviously justification enough. (Heavy Sarcasm)