IRAN: Cliff Hanger

Fraught with real peril to the Western world though it was, the news from Iran sounded like a chapter from The Perils of Pauline. Britain was hanging on to a sheer cliff and the spectators were watching breathlessly to see whether she would fall.

From London came four company negotiators to open talks with the Iranian government. Forthwith they got a truculent ultimatum from Iran's finance minister: within three days the British must hand over 75% of their oil profits since March 20. Alternative: Iran would break off the talks. The British, who...

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