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 Dam mere 460 tons in 1968, but then gradually recovered to 8,590 tons in 1992. A scientific article in the mid-1990s noted that "the mismatch between low primary productivity and relatively high levels of fish production in the region still presents a puzzle to scientists." A concern before the construction of the High Dam had been the potential drop in river-bed level downstream of the Dam as the result of erosion caused by the flow of sediment-free water. Estimates by various national and international experts put this drop at between 2 and 10 meters. However, the actual drop has been measured