Meryl Streep and Anne Hathaway stun the red carpet at 'The Iron Lady' premiere

Meryl Streep was the woman of the hour at "The Iron Lady" premiere at the Ziegfeld Theater in New York City this past Tuesday night.

The stunning actress looked beautiful at the event with a blue shirt and long black skirt. She matched the blue with sapphire and diamond earrings and necklace. Her role as Margaret Thatcher in the upcoming film is receiving quite a bit of Oscar buzz, and is due out December 30.

"With any character I play, where she is me is where I meet her. It's very easy to set people at arm's length and judge them ... from the moment the day started until it was three, four in the morning, she just never, ever stopped, and she worked so hard and relentlessly to be able to be in that position where what she said was the course the nation took," Streep recently told Vogue.

The newly engaged Anne Hathaway came out to support her friend at the event and she wore a chic little black dress with diamond earrings that matched the six-carat engagement ring on her finger.