The Suez Crisis of 1956, also known as the Second Arab–Israeli War, the Tripartite Aggression, and the Sinai War, was a pivotal event in the Cold War era, sparked by geopolitical and colonial tensions. It began with the nationalization of the Suez Canal Company by Egyptian President Gamal Abdel Nasser on July 26, 1956. This move was a significant assertion of Egyptian sovereignty, challenging the control previously held by British and French shareholders. The canal, having been a crucial maritime route since its opening in 1869, was of immense strategic and economic importance, especially for the shipment of oil post-World War II. By 1955, it was a major conduit for Europe's oil supply.

In response to Nasser's nationalization, Israel invaded Egypt on October 29, 1956, followed by a joint British-French military operation. These actions were aimed at regaining control of the canal and deposing Nasser. The conflict escalated quickly, with Egyptian forces blocking the canal by sinking ships. However, intense international pressure, especially from the United States and the Soviet Union, forced the invaders to withdraw. The crisis highlighted the declining global influence of Britain and France and marked a shift in the balance of power towards the United States and the Soviet Union.

Significantly, the Suez Crisis unfolded against a backdrop of rising anti-colonial sentiment and the struggle for Arab nationalism. Egypt's assertive foreign policy under Nasser, particularly his opposition to Western influence in the Middle East, played a crucial role in shaping the crisis. Additionally, the United States' attempts to establish a defense alliance in the Middle East, amidst fears of Soviet expansion, further complicated the geopolitical landscape. The Suez Crisis underscored the complexities of Cold War politics and the changing dynamics of international relations during this period.

The aftermath of the Suez Crisis was marked by several key developments. The United Nations established the UNEF Peacekeepers to police the Egyptian-Israeli border, signaling a new role for international peacekeeping in conflict resolution. British Prime Minister Anthony Eden's resignation and Canadian External Affairs Minister Lester Pearson's Nobel Peace Prize win were direct outcomes of the crisis. Furthermore, the episode may have influenced the Soviet Union's decision to invade Hungary.