Suez Crisis Peacekeepers to police the Egyptian–Israeli border, British Prime Minister Anthony Eden resigned, Canadian Minister of External Affairs Lester Pearson won the Nobel Peace Prize, and the USSR may have been emboldened to invade Hungary. The Suez Canal was opened in 1869, after ten years of work financed by the French and Egyptian governments. The canal was operated by the Universal Company of the Suez Maritime Canal, an Egyptian-chartered company; the area surrounding the canal remained sovereign Egyptian territory and the only land-bridge between Africa and Asia. The canal instantly became strategically important, as it provided the shortest ocean link between
Anthony Eden liberal supporter of nationalist ambitions, such as over Sudanese independence. His 1954 Suez Canal Base Agreement (withdrawing British troops from Suez in return for certain guarantees) was sold to the Conservative Party against Churchill's wishes. Rothwell believes that Eden should have cancelled the Suez Invasion plans in mid-October, when the Anglo-French negotiations at the United Nations were making some headway, and that in 1956 the Arab countries threw away a chance to make peace with Israel on her existing borders. British Government cabinet papers from September 1956, during Eden's term as Prime Minister, have shown that French Prime Minister Guy