Nationalization of the Oil Industry in Iran

The nationalization of Iran’s oil industry occurred in 1951 when the Iranian government, led by Prime Minister Mohammad Mosaddegh, took control of the oil industry from the British company, Anglo-Iranian Oil Company (later BP). This move aimed to ensure Iran benefited fully from its natural resources and reduce foreign influence. The nationalization led to international tensions and economic sanctions, culminating in the 1953 CIA-backed coup that temporarily reinstated foreign control. It was a pivotal moment for Iran's sovereignty and resource management, symbolizing national pride and resistance against foreign dominance.