SUEZ CANAL — Egypt nationalized the Suez Canal Company in 1956 and pledged to compensate its British and French shareholders, prompting a secret invasion by Britain, France and Israel aimed at seizing the waterway and overthrowing Egyptian President Gamal Abdel Nasser. The operation, planned by British Prime Minister Anthony Eden, collapsed within weeks under financial pressure from the United States, military threats from the Soviet Union, and a United Nations resolution demanding withdrawal.

Britain had purchased Egypt's 44% share in the French-built Suez Canal in 1875, invaded Egypt in 1882, and controlled access to the canal for 70 years. After the 1952 Egyptian Revolution overthrew the British-controlled monarchy, Britain agreed to withdraw its bases in Egypt by 1956 and to return control of the canal to Egypt by 1968. The United States, Great Britain, and the World Bank withdrew their financing from Egypt's Aswan Dam project on the Nile before the nationalization.

U.S. President Dwight Eisenhower said at a September 5, 1956 press conference, "We are committed to a peaceful settlement of this dispute, nothing else."

Israel invaded the Gaza Strip and the Sinai Peninsula, and British and French forces landed in Port Said at the north end of the Suez Canal under the pretense of protecting the canal from both Israel and Egypt. The United States sold off its British currency reserves and blocked an emergency International Monetary Fund loan to Britain, triggering a financial crisis. The Soviet Union threatened to send military forces to defend Egypt and hinted at the possible use of nuclear weapons against Britain, France and Israel.

The UN Security Council used a procedural vote to convene an Emergency Special Session of the General Assembly under the "Uniting for Peace" process. UN Resolution 997, approved by a vote of 64 to 5, called for a ceasefire, a withdrawal to armistice lines, and the reopening of the Suez Canal. Four days after Resolution 997 was approved, Eden declared a ceasefire, and British and French forces withdrew six weeks after that. The canal was cleared and reopened within five months of the ceasefire, with Egypt managing it and not blocking British or French ships from using it.

A 1956 opinion poll in Britain found that 44% opposed the use of force against Egypt, while 37% approved. About 30,000 people gathered at an anti-war rally in Trafalgar Square opposing the invasion.

Eden resigned and was replaced by Harold Macmillan, who withdrew British forces from bases in Asia, expedited independence for British colonies around the world, and repositioned Britain as a junior partner to the United States. Britain armed its submarines with U.S. nuclear missiles under his government and transitioned to a post-imperial structure through relationships with the United States and the British Commonwealth.