Word: garanieh
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Early in the week, at appropriately named Sabeh Garanieh Palace ("Palace of the Man of Bad Luck"), Richard Stokes had brought out Britain's plan. Recognizing the new forces at work, the old Anglo-Iranian Oil Co. would disappear; all the company's property in Iran would be transferred to the government-owned National Iranian Oil Co. A new purchasing organization set up by the British would buy the oil from National Iranian, market it, divide the net profits 50-50 with the Iranians. The purchasing organization and National Iranian would jointly create a third outfit to handle...
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