Editing Suez Crisis (section)

=== Economic pressure on Britain and France ===
The United States also put financial pressure on the UK to end the invasion. Because the [[Bank of England]] had lost $45 million between 30 October and 2 November, and Britain's oil supply had been restricted by the closing of the Suez Canal, the British sought immediate assistance from the IMF, but it was denied by the United States. Eisenhower in fact ordered his Secretary of the Treasury, [[George M. Humphrey]], to prepare to sell part of the US Government's [[Gilt-edged securities|Sterling Bond]] holdings. The UK government considered invading [[Kuwait]] and [[Qatar]] if oil sanctions were put in place by the US.<ref>Williams, Charles ''Harold Macmillan'' (2009) pp. 259–261</ref>

Britain's [[Chancellor of the Exchequer]], [[Harold Macmillan]], advised his Prime Minister, [[Anthony Eden]], that the United States was fully prepared to carry out this threat. He also warned his Prime Minister that Britain's [[foreign exchange reserves]] simply could not sustain the [[devaluation]] of the pound that would come after the United States' actions; and that within weeks of such a move, the country would be unable to import the food and energy supplies needed to sustain the population on the islands. However, there were suspicions in the Cabinet that Macmillan had deliberately overstated the financial situation in order to force Eden out. What Treasury officials had told Macmillan was far less serious than what he told the Cabinet.<ref>{{Harvnb|Kyle|2003|p=464}}</ref>

In concert with U.S. actions, [[Saudi Arabia]] started an oil embargo against Britain and France. The U.S. refused to fill the gap until Britain and France agreed to a rapid withdrawal. Other NATO members refused to sell oil they received from Arab nations to Britain or France.<ref>{{Harvnb|Love|1969|p=651}}</ref>