The Abadan Crisis occurred from 1951 to 1954, after Iran nationalised the Iranian assets of the Anglo-Iranian Oil Company (AIOC) and expelled Western companies from oil refineries in the city of Abadan (see Abadan Refinery).
Read more about Abadan Crisis: Prelude, Nationalization, Coup D'état
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“We can’t afford the wrath of Heaven. We survived a deluge by the skin of our teeth, but an economic crisis would be disastrous.”
—Friedrich Dürrenmatt (1921–1990)
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