Months after the US and Israel launched Operation Epic Fury against Iran, the Strait of Hormuz remains largely closed. The UK chose not to get directly involved in the conflict. Nonetheless, it has been exposed to the crisis through record-high diesel prices as well as a spike in inflation.

This echoes an earlier crisis in the Middle East, as my recent research illustrates.

Seventy years ago, the Egyptian government nationalised the Suez canal, sparking the Suez crisis. The canal, which passes through Egypt from the Red Sea to the Mediterranean, was a vital link for ships travelling between Europe and Asia.

After its completion in 1869 by a French-led company, the Egyptian government held a 44% stake in it. However, financial difficulties forced Egypt to sell its shares to the British government in 1875, leaving Britain and France with substantial financial interests in the canal.

Following the Egyptian nationalisation of the canal, France and Britain – together with Israel – invaded Egypt in an attempt to regain control of the vital waterway. But the invasion was a spectacular failure that was condemned by the international community. The crisis came to symbolise Britain’s loss of superpower status.

Today, the US midterm elections are increasing the pressure on the Trump administration over the current conflict. Elections in Israel have also had some bearing on the conflict, with recent reports that Prime Minister Benjamin Netanyahu pushed for renewed strikes ahead of the election. Other reports........

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