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 fervour was the role Britain had played in the creation of Israel. As a result, the actions of the Egyptian government began to mirror those of its populace and an anti-British policy began to permeate Egypt's relations with Britain. In October 1951, the Egyptian government unilaterally abrogated the Anglo-Egyptian Treaty of 1936, the terms of which granted Britain a lease on the Suez base for 20 more years. Britain refused to withdraw from Suez, relying upon its treaty rights, as well as the presence of the Suez garrison. The price of such a course of action was a steady escalation