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 missile technology at a moderate cost, which became the UK Polaris programme. Franco-American ties never recovered from the Suez crisis. There were various reasons for this. Previously there had already been strains in the Franco-American relationship triggered by what Paris considered U.S. betrayal of the French war effort in Indochina at Dien Bien Phu in 1954. The incident demonstrated the weakness of the NATO alliance in its lack of planning and co-operation beyond the European stage. Mollet believed Eden should have delayed calling the Cabinet together until 7 November, taking the whole canal in the meantime, and then veto with