The Oil Nationalization Movement refers to a series of political actions taken by various countries to take control of their oil resources from foreign companies. This movement gained momentum in the mid-20th century, particularly in countries like Iran and Venezuela, where governments sought to assert sovereignty over their natural resources and ensure that profits benefited the local economy. In Iran, the movement peaked in 1951 when Prime Minister Mohammad Mossadegh nationalized the oil industry, previously controlled by the British-owned Anglo-Iranian Oil Company. This led to significant political tensions, including a coup in 1953 that reinstated foreign control, highlighting the complexities and challenges of nationalizing oil resources.