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1953
In 1949 the Angelo-Persian Oil Company negotiated an agreement with the Iranian government under which it would pay the government 25 to 30 per cent of its net profits, The British government controlled 52 per cent of the stock of the company. Under pressure from the the Shia clergy and members of the Communist [[Tudeh party]], the Iranian government led by Prime Minister Mohammad Mossadegh did not ratify the agreement and on May 2, 1951, nationalized ownership of the oil industry. In October Britain shut down Abadan, the world's largest refinery, on the Persian Gulf, and boycotted Iranian oil for the next two years. 30 per cent of Iran's national income previously came from oil exports. Iranian production fell from 424,000 barrels a day in 1947 to 59,000 in 1954, while Saudi Arabia rose from 246,000 barrels to 953,000, and Kuwaut from 45,000 barrels to 953,000.
In 1949 the Angelo-Persian Oil Company negotiated an agreement with the Iranian government under which it would pay the government 25 to 30 per cent of its net profits, The British government controlled 52 per cent of the stock of the company. Under pressure from the the Shia clergy and members of the Communist [[Tudeh party]], the Iranian government led by Prime Minister Mohammad Mossadegh did not ratify the agreement and on May 2, 1951, nationalized ownership of the oil industry. In October Britain shut down Abadan, the world's largest refinery, on the Persian Gulf, and boycotted Iranian oil for the next two years. 30 per cent of Iran's national income previously came from oil exports. Iranian production fell from 424,000 barrels a day in 1947 to 59,000 in 1954, while Saudi Arabia rose from 246,000 barrels to 953,000, and Kuwaut from 45,000 barrels to 953,000.
In January 1953 the Iranian parliament extended Mossadegh's dictatorial powers. The following month, Mossadegh denounced the Shah for intrigues with "foreign interests". On February 28 the Shah announced he would abdicate "for reasons of health". Serious riots ensued when the Shah's supporters clashed with Mossadegh's in the streets. The Shah cancelled his plan of abdication.
After the CIA-backed coup of 1953, Mossadegh was overthrown and the Shah returned to power. [[Ayatollah Ruhollah Khomeini]] emerged as an active critic of the Shah's increasingly autocratic government during this period. Khomeini was imprisoned and later exiled, but popular anti-government sentiment continued to spread. In 1979, the Shah fled Iran as Khomeini returned from exile. The Shah's troops were defeated by the rebels and in the following year, the Islamic Republic was established following a national referendum.
After the CIA-backed coup of 1953, Mossadegh was overthrown and the Shah returned to power. [[Ayatollah Ruhollah Khomeini]] emerged as an active critic of the Shah's increasingly autocratic government during this period. Khomeini was imprisoned and later exiled, but popular anti-government sentiment continued to spread. In 1979, the Shah fled Iran as Khomeini returned from exile. The Shah's troops were defeated by the rebels and in the following year, the Islamic Republic was established following a national referendum.