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

the
operation of the Iranian industry, pending a final settlement,
if invited to do so by both Britain and Iran.

Although
Dr. Musaddiq remained non-commital, he expressed a desire
to study the suggestion and requested that it should be put to the
British Government. The Vice-President of the International Bank
submitted a memorandum to the British Government explaining his
ideas. The British Government in return underlined that any
arrangements contemplated by the International Bank must be without
prejudice to the legal rights of both the Iranian Government and the
Anglo-Iranian Oil Company in any final settlement. Moreover, any
subsequent discussions on it were designed to assist the Bank in
working out a plan: the International Bank itself would have to
decide whether it constituted a suitable basis for negotiations with
the Iranian Government.

At the
request of the International Bank, the British Government
provided all the information that was asked for concerning the
Iranian oil industry and ‘the effect which any interim arrangements
might have on His Majesty’s Government’s case before the
International Court of Justice.’
35 Responding to a personal request from the
President of the International Bank, arrangements were made for a
Director of the Anglo-Iranian Oil Company to go to Washington to
help the Bank in explaining the material that the British had sent
them.

Direct
Government to Government negotiations might run the risk of
heightening national feelings. On the other hand, it was desirable
that an understanding should be reached