British Diplomatic Oil Crisis: Contemporary Anglo-Saxon Geopolitical Rivalries in the Persian Gulf: Drawing a Lesson? Or Sir Anthony Eden‘s Delusion of Grandeur.

resources. . . Finally, fair compensation must be paid for the fact
of nationalisation and its consequences. It cannot be settled by one
party alone.’ 31

When the
discussions between the US officials and Dr.Musaddiq
collapsed, while still in the United States, Dr.Musaddiq appealed to
President Truman for a loan of $120,000,000. The President replied
that ‘this application would be given careful consideration.’
32 Churchill complained that the American
administration was still contemplating giving financial aid to
Iran. It became a dilemma. To grant the loan would wreck
Britain’s carefully calculated scheme to allow Iran to fall, but
to allow Iran to fall was altogether too risky from the United
States administration’s point of view.

So
diplomacy began to take a different turn. ‘To keep the Americans
happy, Eden and Churchill allowed further talks to be held.’
33 As was seen earlier in this dissertation, two
missions failed to solve the Anglo-Iranian Oil Company’s crisis.
One was the mission of Averell Harriman, the personal advisor to
President Truman, and the other was the British mission of Lord
Privy Seal, Richard Stokes. Now, while Dr. Musaddiq Was in the
United States to defend Iran’s position before the Security
Council, a further mission was launched. This time ‘the
International Bank offered to act as a friendly intermediary.’34

The
Vice-President of the International Bank, at the suggestion of
the Pakistani Ambassador to Washington, informed Dr. Musaddiq that
the International Bank would be willing to try to make temporary
arrangements for