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 at the Commonwealth Prime Ministers' Conference in London in late June and early July. Egypt's action, however, threatened British economic and military interests in the region. Prime Minister Eden was under immense domestic pressure from Conservative MPs who drew direct comparisons between the events of 1956 and those of the Munich Agreement in 1938. Since the U.S. government did not support the British protests, the British government decided in favour of military intervention against Egypt to avoid the complete collapse of British prestige in the region. Eden was hosting a dinner for King Feisal II of Iraq and his Prime