Article

In 1901, British financier William Knox D'Arcy obtained a concession from Persian Shah Mozaffar ad-Din Shah Qajar for oil exploration and extraction rights in Persia. The deal, highly unfavorable to Persians, granted D'Arcy exclusive rights for 60 years for £20,000 and 16% of future profits.

Oil was discovered in 1908, leading to the formation of the Anglo-Persian Oil Company (APOC). The British government, under Winston Churchill, later invested in APOC to secure oil supplies for the navy.

Nationalist sentiment surged post-World War II, culminating in the election of Prime Minister Mohammad Mossadegh in 1951, who sought to nationalize the oil industry. The U.S. and U.K. conspired to overthrow him in 1953 via Operation Ajax, resulting in Mossadegh's ousting and the reinstatement of Shah Reza Pahlavi.

In Guatemala, United Fruit Company (UFCO) exerted immense control, leading to significant reforms under President Jacobo Arbenz, who nationalized land, prompting U.S. intervention in 1954. Similarly, in Chile, President Salvador Allende faced U.S. opposition due to his nationalization plans, leading to a coup in 1973. These interventions illustrate a pattern of U.S. involvement in Latin America and the Middle East during the 20th century.