Iran marks the 63rd anniversary of the nationalization of its oil industry, which was a turning point in the countrys modern history.On March 20, 1951, members of the Iranian parliament passed a bill introduced by then Prime Minister Mohammad Mosaddeq on the nationalization of the oil industry.
Mosaddeq garnered the support of his nationalist party and religious groups led by prominent cleric, Ayatollah Abolqasem Kashani, for the initiative.
Experts say before nationalization of Irans oil industry, the British government, which controlled Iran's oil industry through the Anglo-Persian Oil Company (APOC), reaped higher profits from Iran's oil resources than the Iranian government.
Some scholars believe that nationalization of Irans oil industry was the main reason behind the 1953 joint CIA-MI6-sponsored coup d'tat, codenamed Operation Ajax, which overthrew Mosaddeq.
Last August, the US Central Intelligence Agency (CIA) published for the first time a document confirming Washingtons role in the 1953 coup against the democratically-elected government of Mosaddeq.
When worldwide sanctions against Irans oil industry failed to force Mosaddeq to abandon the move, a plan was devised by Britain (codenamed 'Operation Boot') and the US (codenamed TPAJAX Project) to overthrow his government.
The coup saw the formation of an absolute US-backed monarchy under Iran's last Shah, Mohammad Reza Pahlavi, who was overthrown by the 1979 Islamic Revolution.
By Press TV
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