Oil, Pride and Glory

Loy Henderson’s Statement on Iran Oil Deal (1954)

The Mossadegh Project | September 27, 2018                  

The Department of State Bulletin
Vol. XXXI, No. 790 • Publication 5564
August 16, 1954


Press release 423 dated August 5

Ambassador Loy W. Henderson The news contained in the joint statement issued today by Dr. Ali Amini, Iranian Minister of Finance, and Mr. Howard Page, representing the consortium companies, should bring joy to the heart of every true friend of Iran. The agreement which they have announced represents, in my opinion, a long step in the direction of the realization of the aspirations of the Iranian people. When an oil settlement is finally achieved along lines indicated in the joint statement, when Iranian oil once more flows in large quantities to the markets of the world, and when Iran begins to receive substantial revenues from its oil resources, the Iranian people should be in a better position than heretofore in recent times to develop their country in a way which will assure them a future in keeping with their glorious past.

From my intimate acquaintance with the course of these protracted negotiations, I am convinced that they would not have been successful if the participants had not been animated by sentiments of lofty patriotism and had not approached their task of finding an agreement in a constructive and statesmanlike spirit.

Divvying Up the Loot: The Iran Oil Consortium Agreement of 1954
Divvying Up the Loot: The Iran Oil Consortium Agreement of 1954

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Related links:

Loy Henderson Talks Compensating Britain With Mossadegh (Jan. 28, 1953)

U.S. Says Oil Deal Is A “Significant Victory” For Iran (Oct. 28, 1954)

Foreign Operations Administration Announces Program of Aid to Iran (Nov. 1954)

MOSSADEGH t-shirts — “If I sit silently, I have sinned”

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