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Why did Nasser nationalize the Suez Canal ?

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The Suez Canal, which connects the Mediterranean and Red Seas across Egypt, was completed by French engineers in 1869. For the next 87 years, it remained largely under British and French control, and Europe depended on it, as an inexpensive shipping route for oil from the Middle-east. After World War II, Egypt pressed for evacuation of British troops from the Suez Canal Zone, and in July 1956 President Nasser nationalized the canal, hoping to charge tolls that would pay for construction of a massive dam on the Nile River.

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