Oil Nationalization Day, Esfand 29. This day marks the anniversary of the approval of the law nationalizing Iran’s oil industry by the Majles and Senate in 1951. The decision was a turning point in modern Iranian history and had significant effects on the nation’s economic and political relations. Following this action, the government led by Mohammad Mosaddegh was tasked with implementing the nationalization law. The event triggered an international oil crisis and sanctions against Iran, eventually leading to major political developments in the following years. Today, Esfand 29 is recognized as Oil Nationalization Day in the Shahanshahi and official Iranian calendars, and is commemorated annually with various ceremonies and programs.
