IRAN: No Deal

Harry Truman and Winston Churchill made another—and belated—effort to do business with Mohammed Mossadegh, the wily, weepy old man of Iran. London and Washington are now much less worried by the loss of Iranian oil (mostly made up from other Middle East sources) than by the increasing danger that Iran, strife-racked, almost bankrupt, and near chaos, will topple into the Red fold. The U.S.-British offer, which had obviously cost the U.S. much diplomatic sweat and the British a lot of pride:

¶ The British implicitly, if not formally, accepted Iran's oil nationalization.

¶The British agreed to negotiate with...

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