Aswan Dam allies in the Middle East, including Turkey and Iraq, were irritated and jealous that Egypt, a persistently neutral country, was being offered so much aid. In June 1956, the Soviets offered Nasser $1.12 billion at 2% interest for the construction of the dam. On 19 July the U.S. State Department announced that American financial assistance for the High Dam was "not feasible in present circumstances." On 26 July 1956, with wide Egyptian acclaim, Nasser announced the nationalization of the Suez Canal as well as fair compensation for the former owners. Nasser planned on the revenues generated by the canal helping
Aswan 330, the legion stationed here received a bishop from Alexandria; this later became the Coptic Diocese of Syene. The city is mentioned by numerous ancient writers, including Herodotus, Strabo, Stephanus of Byzantium, Ptolemy, Pliny the Elder, Vitruvius, and it appears on the Antonine Itinerary. It also is mentioned in the Book of Ezekiel and the Book of Isaiah. The latitude of the city that would become Aswan – located at 24° 5′ 23″ – was an object of great interest to the ancient geographers. They believed that it was seated immediately under the tropic, and that on the day of