Suez canal crisis: The Suez Canal was cleared and

The Suez Canal was cleared and reopened, but Britain in particular found its standing with the US weakened and its influence 'east of Suez ' diminished by the adventure. The crisis marked the end of Britain and France as independent superpowers while strengthening Egyptian President Nasser’s influence in the Middle East. Background and Causes of the Suez Crisis The Suez Crisis grew out of Egypt’s bold nationalization of the Suez Canal and years of colonial tensions between European powers and Arab nations. Suez Crisis , international crisis in the Middle East, precipitated in July 1956, when the Egyptian president, Gamal Abdel Nasser, nationalized the Suez Canal . The canal had been owned by the Suez Canal Company, which was controlled by French and British interests.