Suez Crisis participated in later years, since Canada had spearheaded the idea of a neutral force). By 24 April 1957 the canal was fully reopened to shipping. Egyptian sovereignty and ownership of the canal had been confirmed by the United States and the United Nations. In retirement, Anthony Eden, the British Prime Minister at the time, maintained that the military response had prevented a much larger war in the Middle East. Israel had been expecting an Egyptian invasion in either March or April 1957, as well as a Soviet invasion of Syria. The crisis may also have hastened decolonization, as many of
Suez Canal Company his predecessor Said. The problem was referred during 1864 to the arbitration of Napoleon III, who awarded £3,800,000 (equivalent to £ in ) to the company as compensation for the losses they would incur by the changes to the original grant which Ismail demanded. During 1875, a financial crisis forced Isma'il to sell his shares to the government of the United Kingdom for only £3,976,582 (equivalent to £ in ). The company operated the canal until its nationalization by Egyptian President Gamal Abdel Nasser in 1956, which led to the Suez Crisis. In 1962, Egypt made its final payments for