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 Nasser when he learned of the Anglo-American withdrawal of aid for the Aswan Dam. As India was a user of the canal, however, he remained publicly neutral other than warning that any use of force, or threats, could be "disastrous". Suez was also very important to Ceylon's economy, and it was renegotiating defense treaties with Britain, so its government was not as vocal in supporting Egypt as it would have been otherwise. Pakistan was also cautious about supporting Egypt given their rivalry as leading Islamic nations, but its government did state that Nasser had the right to nationalise. On 1