Word: suez
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While the U.N. General Assembly debated the Middle East crisis last week, small-scale fighting broke out again. The action occurred along the Suez Canal, where Israeli and Egyptian forces have been staring angrily at each other ever since they agreed to cease fire. Each side apparently used halftracks and mortars, and each blamed the other for starting it. Warned an Israeli official: "I trust the Egyptians remember that we are less than 100 miles from Cairo...
...Egypt, the disappearance of tourists is costing Nasser $1,500,000 a week; the closing of the Suez Canal subtracts another $5,000,000. Even if the canal reopens, Cairo's ban on U.S., British and West German shipping will still deprive the government of $1,000,000 a week in tolls. Then there is cotton, Egypt's second biggest foreign-exchange earner after the canal. Because there is no money to spare for urgently needed insecticides, leafworms threaten to wipe out 30% of this year's crop. In desperation, the government sent almost 500,000 schoolchildren...
...liquidate socialist Cuba. Our aim was to preserve Cuba, and Cuba still exists." Recalling the tense hours of the confrontation, Khrushchev said one night he slept fully dressed on his studio sofa. "I did not want to be in the position of one Western minister who, during the Suez crisis, rushed to the telephone without his trousers...
...other countries. Nonetheless, Arab oil, which supplied one-third of the world's needs until the outbreak of last month's Arab-Israeli war, was flowing at less than half its normal rate of 10,300,000 bbl. a day. And the continued shutdown of the Suez Canal forced Middle East-to-Europe oil shipments on a costly detour around the Cape of Good Hope, sorely taxing the world's tanker capacity in the process...
...normal 2,600,000 bbl. a day. No better off is Iraq, which depends on oil for 80% of its income, but has resumed shipments beyond the Arab world only to France and Turkey. Nasser's bankrupt United Arab Republic is losing $700,000 a day in Suez Canal revenue, has not begun clearing the canal...