Nationalization of the Iranian oil industry

The nationalization of the Iranian oil industry occurred in the early 1950s when Iran, led by Prime Minister Mohammad Mossadegh, took control of its oil resources from foreign companies, particularly the British-owned Anglo-Iranian Oil Company. This move aimed to ensure that oil revenues benefited the Iranian people rather than foreign interests. The nationalization caused tensions with Britain and led to a crisis, culminating in a CIA-backed coup in 1953 that removed Mossadegh from power. This event significantly impacted Iran's political landscape and its relationships with Western powers, ultimately influencing future geopolitical dynamics in the region.