The Nationalisation of Suez Canal by the President of Egypt Abdul Gamal Nasser on 26th July 1956 was a historic event of a developing country challenging the might of the European imperialist powers, France and Britain.
Britain and France, of course, attacked Egypt assisted by Israel to capture Suez Canal and to oust Nasser from power. But the world opinion was on the side of Egypt. The support of the Soviet Union and the intervention of the UN saw that Britain and its allies had to go back.
It was a big victory not only for Egypt but for the entire developing countries. It inspired other countries stand on its own legs.