Suez Crisis led to a withdrawal. U.S. President Dwight D. Eisenhower had strongly warned Britain not to invade; he threatened serious damage to the British financial system by selling the US government's pound sterling bonds. Historians conclude the crisis "signified the end of Great Britain's role as one of the world's major powers". The Suez Canal was closed from October 1956 until March 1957. Israel fulfilled some of its objectives, such as attaining freedom of navigation through the Straits of Tiran, which Egypt had blocked to Israeli shipping since 1950. As a result of the conflict, the United Nations created the UNEF
Suez Crisis of commission, concluding: In the aftermath of the Second World War, Britain was reassessing its role in the region in light of the severe economic constraints and its colonial history. The economic potential of the Middle East, with its vast oil reserves, as well as the Suez Canal's geo-strategic importance against the background of the Cold War, prompted Britain to consolidate and strengthen its position there. The kingdoms of Egypt and Iraq were seen as vital to maintaining strong British influence in the region. Britain's military strength was spread throughout the region, including the vast military complex at Suez with