Iranian Oil Nationalization

Iranian Oil Nationalization occurred in 1951 when Iran's government, led by Prime Minister Mohammad Mosaddegh, took control of its oil industry from the British-owned Anglo-Iranian Oil Company (AIOC). This move aimed to assert national sovereignty over valuable natural resources and ensure profits benefited Iranians. The nationalization faced strong opposition from Britain and its allies, leading to international economic pressure and a covert U.S.-supported coup in 1953 that temporarily restored foreign control. The event marked a significant assertion of Iran's independence over its resources and fueled national pride and political change in the country.