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
1969 Aswan Ilyushin Il-18 crash third try when it banked to the right and hit the left side of the runway. The starboard wing tore off and a fuel spillage followed which caused the crashed aircraft to burst into flames. The probable cause was determined to be that the "Pilot descended below the minimum safe altitude without having the runway lights clearly in sight. A contributory factor was fatigue arising from continuous working hours without suitable rest periods." 1969 Aswan Ilyushin Il-18 crash On 20 March 1969, a United Arab Airlines Ilyushin Il-18 crashed while attempting to land at Aswan Airport. 100 of the 105