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View Diary: Obama First Sitting President to Admit U.S. Involvement in 1953 Iran Coup (293 comments)

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  •  Nationalization (0+ / 0-)

    I think it should be added that even the nationalization was only undertaken as a last resort.  At the time Iran was getting royalties of <10% from England and they negotiated for years to get more royalties (Saudi Arabia was getting 50% from the US).  In fact, Iran was paying more in taxes to England then they were getting in royalties.  Britain wouldn't budge an inch, and Iran eventually decided to go for nationalization.</p>

    ...not that the overthrow of Mozadegh would have been justified even if they had gone for nationalization without a recalcitrant Britain.

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