Word: nasser
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...tangible advantage Israel got out of the Sinai invasion was to open up its now bustling southernmost port of Elath to the sea, so that its ships could trade with East Africa and Asia while bypassing Nasser's Suez Canal. Invading Israeli armies, routing the Egyptians from the Sinai peninsula, spiked the Egyptian guns placed to menace any vessel seeking entrance from the Red Sea through the narrow, four-mile-wide Strait of Tiran into the Gulf of Aqaba and thence to Elath. Now the U.N. Emergency Force guards the strait and permits Israel "innocent passage" into the gulf...
Gamal Abdel Nasser made a spectacular payment on his debt to the Kremlin last week. He flew to Russia to pay the long-postponed visit that had to be put off in 1956 because of the Suez crisis. Moscow greeted him with such a welcome as no other foreigner but Nehru and Tito had received before...
This week, 21 months after Gamal Abdel Nasser's seizure of the Universal Suez Canal Co., the issue of compensating its owners approached settlement by due process of law and due pressure of power politics. Nasser was feeling the hurt of having $280 million in Egyptian assets frozen in the U.S. and Britain. Under the good offices of the World Bank, whose President Eugene Black himself flew to Cairo at the sticking point last month to press compromise on his friend Nasser, representatives of the old Canal Co. and the Egyptian government got together on a "general" financial agreement...
...State Department, pressing for an early settlement, let it be known that when it is reached, the U.S. plans to unfreeze $30 million in Egyptian assets blocked in the U.S. after Nasser grabbed the canal. The State Department insisted that the assets had been frozen only against the possibility that U.S. shippers, after paying Suez tolls to Egypt, might later learn that the tolls were legally owed to the old Suez...
Whether all these settlements would decrease the anti-American poison spread by the captive Cairo press or broadcast by Cairo propaganda stations remains to be seen. At the moment Nasser was off to Moscow-to be guest of honor at the May Day parade...