Posted 4 years ago on Feb. 4, 2012, 2:19 p.m. EST by abin22
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By spring of 1953, incoming US President Dwight D. Eisenhower authorised the Central Intelligence Agency (CIA) to organise a coup against the Mossadeq government with support from the British government. On 19 August 1953, Mossadeq was forced from office by the CIA conspiracy, involving the Shah and the Iranian military, and known by its codename, Operation Ajax. Mossadeq was replaced by pro-Western general Fazlollah Zahedi and the Shah, who returned to Iran after having left the country briefly to await the outcome of the coup. The Shah abolished the democratic Constitution and assumed autocratic powers. After the coup, Mossadeq's National Iranian Oil Company became an international consortium, and AIOC resumed operations in Iran as a member of it. The consortium agreed to share profits on a 50–50 basis with Iran, "but not to open its books to Iranian auditors or to allow Iranians onto its board of directors." AIOC, as a part of the Anglo-American coup d'état deal, was not allowed to monopolise Iranian oil as before. It was limited to a 40% share in a new international consortium. For the rest, 40% went to the five major American companies and 20% went to Royal Dutch Shell and Compagnie Française des Pétroles, now Total S.A..