The Iranian History Article :

Legalizing The Oil Consortium

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March, 28, 1954 A.D.:
Legalizing The Oil Consortium

By: Mir M.Hosseini

On March, 28, 1956 the Iranian minister of foreign affairs presented reports at the parliament reasoning why making oil sales contracts abroad does not conflict with the law regarding nationalization of oil, claiming that the law was related to utilization of oil inside Iran. This lifted all legal obstacles against the consortium which was mainly American and British to use oil resources. The representatives of the consortium arrived in Tehran on April, 11 and their negotiations with Iranian authorities started 3 days later. Ten years later on the same day, a report presented by the government stated that Iran's income from domestic and foreign sales of oil reached 2.5 billion dollars.

KEY TERMS:American , British , Iran , Iranian , Tehran

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