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 blockaded the Gulf of Aqaba, in contravention of the Constantinople Convention of 1888. Many argued that this was also a violation of the 1949 Armistice Agreements. According to the Egyptian historian Abd al-Azim Ramadan, the events leading up to the nationalization of the Suez Canal Company, as well as other events during Nasser's rule, showed Nasser to be far from a rational, responsible leader. Ramadan notes Nasser's decision to nationalize the Suez Canal without political consultation as an example of his predilection for solitary decision-making. The nationalisation surprised Britain and its Commonwealth. There had been no discussion of the canal