Op-Ed: Hormuz Crisis Has Parallels to the Suez Crisis of 1956

Months after the US and Israel launched Operation Epic Fury against Iran, the Strait of Hormuz remains largely closed. The UK chose not to get directly involved in the conflict. Nonetheless, it has been exposed to the crisis through record-high diesel prices as well as a spike in inflation.

This echoes an earlier crisis in the Middle East, as my recent research illustrates.

Seventy years ago, the Egyptian government nationalised the Suez canal, sparking the Suez crisis. The canal, which passes through Egypt from the Red Sea to the Mediterranean, was a vital link for ships travelling between Europe and Asia.

After its completion in 1869 by a French-led company, the Egyptian government held a 44% stake in it. However, financial difficulties forced Egypt to sell its shares to the British government in 1875, leaving Britain and France with substantial financial interests in the canal.

This story was originally published by The Maritime Executive. Read the full story at The Maritime Executive →