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
Suez Crisis to prefer to use the sea route through the Suez Canal. As it was, the rise of super-tankers for shipping Middle East oil to Europe, which were too big to use the Suez Canal meant that British policy-makers greatly overestimated the importance of the canal. By 2000, only 8 percent of the imported oil in Britain arrived via the Suez canal with the rest coming via the Cape route. In August 1956 the Royal Institute of International Affairs published a report titled "Britain and the Suez Canal" revealing government perception of the Suez area. It reiterates several times the strategic