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India Today
7 hours ago
- Politics
- India Today
Saviour to Satan: The seeds of Iran-US hostility
Tehran, November 4, 1979. The winter air burnt with rage, a smouldering fire of angry chants and angry fists pounding the sky. 'Death to America!' roared the crowd. 'Destroy the Big Satan,' fumed Iran's spiritual the chaos, a tidal wave of students crashed against the iron gates of the US Embassy. Inside, a young attache, hands trembling, clutched a phone, desperately trying to reach Washington: 'They're coming over the walls,' his voice to control the rising tide, the gates buckled. The mob surged forward, and a revolutionary flood engulfed the compound. For 444 days, 52 Americans would become pawns in a game of vengeance, their captivity a wound that would scar the souls of two nations, leading to almost five decades of animus. This is a story of two friends becoming bitter foes. A tale of the US turning from the saviour to the 'Big Satan.' To understand this rupture, we return to the post-World War II era, when oil and Cold War rivalries sowed discord.1949-1952: The Oil ConspiracyDuring the second great war, Iran was an ally of the Allied powers, its sovereignty guaranteed by the English, Americans and Soviets. In the aftermath of World War II, Iran's vast oil reserves had made it a pawn in a global chess game. By 1949, the great rivals of the Cold War, pro-Western and pro-Soviet, circled like vultures, each craving young Shah, Mohammad Reza Pahlavi, sat uneasily on his Peacock Throne, his rule already scarred by violence. The battle for Iran's oil started with a winter of intrigues and February 5, 1949The faint echo of Pahlavi's footsteps on the ancient stones of Tehran was shattered by the sound of gunshots. Pahlavi escaped unhurt in the attempted assassination near Tehran University. According to The New York Times, the bid on the Shah's life, allegedly orchestrated by the Tudeh Party (Communists), was a stark warning: Iran was a battleground for pro-Soviet and pro-Western forces, each vying for control of its black June 1950, General Ali Razmara became Prime Minister in the midst of rising demands for wresting control of Iran's oil fields from the Anglo-Iranian Oil Company (AIOC), later British Petroleum, which had long siphoned wealth to British coffers. Before Razmara could act, he was silenced on March 7, 1951, when an assassin's bullet felled him in a Tehran the breach stepped Mohammed Mossadegh, a nationalist, known for his ascetic life and emotional outbursts. 'The Iranian people will no longer be slaves to foreign interests,' Mossadegh declared. On April 28, 1951, he nationalised AIOC, igniting the ire of the between Mossadegh and the Shah over oil policy reached a breaking point. On July 17, 1952, Mossadegh resigned, and Ahmed Ghavam was sworn in as PM. Tehran erupted. For three days, rioting tore apart the city. Within five days, the Shah, under relentless pressure, bowed to the will of the people and reinstated Mossadegh. The nationalist leader returned, stronger than ever. The stage was set for more bloodbath, and anarchy.1953: The Sinister PlotAcross the seas, in the smoke-filled halls of Washington and London, a different plan was taking shape. MI6 agent Christopher Montague Woodhouse, a key player in the Iran saga, laid out the stakes. 'Mossadegh's nationalisation of Anglo-Iranian Oil is a direct threat to Britain's economy,' he argued. 'If he aligns with Moscow, we lose the Persian Gulf.' (All the Shah's Men: Stephen Kinzer, 2003).By March 1953, the CIA drafted a scheme to topple Mossadegh and install a government more pliable to Western interests. On April 16, a detailed study titled 'Factors Involved in the Overthrow of Mossadegh' concluded that a coup was feasible. In Nicosia, Cyprus, on May 13, CIA and British intelligence officers huddled in secret, sketching the outlines of a plot that would reshape Iran. By June 10, in Beirut, the final coup plan was reviewed, and on June 19, it was submitted to the US State Department and the British Foreign Office. (Based on a timeline published by The New York Times)advertisementCIA Director Allen Dulles approved the plan, codenamed TPAJAX, with a budget of $1 million—peanuts for a nation's fate and its vast reserves. 'We had to act,' Dulles wrote in a CIA memo, declassified in 2013, 'to secure Iran's oil and block communist inroads.' On July 1, Britain's Prime Minister gave his approval, followed by President Eisenhower on July 11. The die was AjaxThe plan was intricate: bribe politicians, sway clerics, organise thugs for street protests, and unleash propaganda. The CIA spent $100,000, buying 'loyalty in parliament, press, and streets,' according to one account. Newspapers, paid by the CIA, vilified Mossadegh as a Soviet stooge. Radio broadcasts, scripted by operatives, warned of godless communism. The West's propaganda machinery churned out lies and rumours, creating a facade of anarchy and July 25, Princess Ashraf, the Shah's twin sister, arrived in Tehran from France, tasked by the CIA with convincing the monarch to sign a decree dismissing Mossadegh and naming General Fazlollah Zahedi, a lifelong royalist, as premier. It came with a chilling warning from the CIA, revealed later in declassified documents: 'Should the Shah fail to go along Zahedi would be informed that the United States would be ready to go ahead without the Shah's active cooperation.'advertisementMossadegh, sensing the gathering storm, moved decisively. On August 4, he held a referendum to dissolve Parliament, consolidating power amid suspicions of British and American plotting. On August 13, the Shah, under intense CIA pressure, signed the decrees dismissing Mossadegh and appointing Zahedi.A Failed CoupTehran, August 15, 1953. Inside a CIA safehouse, Kermit Roosevelt Jr, the grandson of US President Theodore Roosevelt, and mastermind of Op Ajax, chain-smoked nervously, waiting for the radio to crackle. Disguised as a businessman in sharp linen suits, he had entered Iran a few days ago to oversee the plot to topple Mossadegh. 'We're on the edge of history,' he'd later recall, 'and it could all collapse in a heartbeat.'Colonel Nematollah Nassiri, a Shah loyalist, gripped a royal firman, ordering Mossadegh's dismissal, in his trembling hands. As his jeep halted near the PM's humble residence, a surprise was waiting. Tipped off in advance, Mossadegh had alerted his troops, who immediately arrested Nassiri. The Shah, nervous and indecisive, fled to Baghdad, leaving Tehran to burn. Zahedi also disappeared into a safehouse in the mountains on the Flees Iran After Move to Dismiss Mossadegh Fails,' The New York Times screamed on August 17. 'The attempt to remove the Premier was made at midnight. The 72-year-old Premier was clearly master of the situationThe Government-authorised story is that alert Army officers foiled a palace guard coup after the plotters had been betrayed by Colonel Muntaz.'But Roosevelt wasn't ready to give up. Ignoring orders to abort the mission, he shot back: 'I'm still in the game.' Within a few days, Roosevelt would roll the dice again.(Next: The Game Begins)
Cision Canada
22-05-2025
- Business
- Cision Canada
Clean Energy Partnership Advances Indigenous Ownership in 19.8 MW Duchess Solar Français
Financing and support from CIB, AIOC, Selkirk Advisory and Equitable Life More than 100 jobs created during construction, others to support operations Cold Lake First Nations ownership supported by CIB's Indigenous Equity Initiative AIOC's first loan guarantee backstop of a renewable energy project COUNTY OF NEWELL, AB, May 22, 2025 /CNW/ - The Canada Infrastructure Bank (CIB), Alberta Indigenous Opportunities Corporation (AIOC), Selkirk Advisory Group Inc. (Selkirk) and Equitable Life of Canada (Equitable Life) are partnering to support Duchess Solar, a 19.8-megawatt solar facility being constructed in Duchess, Alberta, with a combined $48.1 million in financing. Cold Lake First Nations (CLFN) will hold a majority ownership in the project, developed in partnership with Elemental Energy, with financing from two sources: (1) a $21 million Indigenous Community Infrastructure Initiative loan and a $5.2 million Indigenous Equity Investment loan from the CIB and (2) a $21 million project finance loan substantially guaranteed by AIOC, funded by Equitable Life and arranged by Selkirk. Power produced by 49,700 solar photovoltaic panels will supply approximately 7,000 households with reliable, lower-cost electricity and strengthen Alberta's energy grid. The project will also generate more than 100 jobs during construction, with full-time roles to support long-term operations and maintenance. The CIB's long-term financing, together with Equitable Life's financing supported by an AIOC loan guarantee strengthens CLFN's capacity to take on a majority ownership role. This partnership is expected to result in long-term revenue generation for Cold Lake First Nations that can be reinvested back into the community to support economic and community development opportunities. To date, the CIB has invested more than $1 billion with Indigenous communities across 28 projects. The CIB collaborates with First Nations, Métis and Inuit communities on new projects in partnership with, and for the benefit of Indigenous communities across Canada. AIOC has $3 billion in capacity to facilitate Indigenous investments into major infrastructure projects in the natural resources, agriculture, transportation, telecommunications and tourism industries and plays a vital role in supporting Indigenous-led ownership of transformative infrastructure projects like Duchess Solar. Endorsements Duchess Solar is a great example of how flexible and innovative financing partnerships can drive success for Indigenous-led infrastructure projects. With the CIB's loan paired with private capital and a provincial loan guarantee, Cold Lake First Nations will benefit from meaningful, long lasting and direct economic benefits for future generations. Ehren Cory, CEO, Canada Infrastructure Bank As a nation of builders, it's time to build Canada stronger. We are building the strongest economy in the G7, but this can't happen without the full participation of Indigenous peoples. The new Duchess Solar facility will supply 7,000 homes in the region with clean, renewable energy. With the help of the CIB's project financing and Indigenous Equity loans, Cold Lake First Nations will retain majority ownership in the project, marking another important step forward in advancing economic reconciliation for Indigenous Peoples across Canada. Hon. Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada Cold Lake First Nations is honoured and proud to announce Duchess Solar with our partner Elemental Energy. Building from our vision of expanding our portfolio in clean energy, we look forward to development and operations of a project that will benefit our community for decades. We would like to acknowledge the commitment and creativity of our financial partners, the CIB, AIOC, Selkirk and Equitable Life who have made the financial resources possible for CLFN to hold a majority ownership position. We are grateful for the opportunity to work alongside our partners to deliver an innovative commercial structure. Chief Kelsey Jacko, Łouwe Chok 'Touwe, Cold Lake First Nations Elemental is very excited to complete this creative financing structure to support our growing partnership with Cold Lake First Nations as we look to collaborate to bring additional renewable energy projects to Alberta. We are grateful for the partnership with CLFN and the support of all the financial partners involved who worked diligently and collaboratively to get this across the line. Jamie Houssian, Principal, Elemental Energy This project represents a powerful example of economic reconciliation in action. Through this Alberta Indigenous Opportunities Corporation loan guarantee, we're proud to help Cold Lake First Nations build generational wealth while contributing to Alberta's transition to a more sustainable and reliable power grid — one that includes renewables paired with natural gas. This is what it looks like when Indigenous communities are in the driver's seat of their own economic futures. Chana Martineau, CEO, AIOC This new solar farm is a shining example of the diverse and forward-looking projects supported by the Alberta Indigenous Opportunities Corporation. By empowering Indigenous communities to invest in Alberta's energy future—whether in traditional or renewable sectors—we're supporting local economies, creating jobs and building a stronger, more inclusive economy for generations to come. Hon. Rajan Sawhney, Minister of Indigenous Relations, Government of Alberta Selkirk greatly appreciates the opportunity to support Cold Lake First Nations and Elemental Energy with project financing for this important project, as well as the partnership of Equitable Life, AIOC and the CIB. This project is a great example of what can happen with creativity and collaboration. Selkirk is proud to have participated in such a meaningful way. We look forward to continuing to support the partners through construction and into operations, and in particular, to seeing the impactful economic benefits this project will generate for Cold Lake First Nations community for years to come. Daniel Doubilet, Managing Partner, Selkirk Equitable is proud to play a role in this project which serves to provide additional clean energy to Alberta's grid and economic benefits to Cold Lake First Nations for years to come. It was great to collaborate with Cold Lake First Nations and Elemental Energy and to partner with Selkirk, the CIB and AIOC.
Yahoo
22-05-2025
- Business
- Yahoo
Clean Energy Partnership Advances Indigenous Ownership in 19.8 MW Duchess Solar
Financing and support from CIB, AIOC, Selkirk Advisory and Equitable Life Disponible en français More than 100 jobs created during construction, others to support operations Cold Lake First Nations ownership supported by CIB's Indigenous Equity Initiative AIOC's first loan guarantee backstop of a renewable energy project COUNTY OF NEWELL, AB, May 22, 2025 /CNW/ - The Canada Infrastructure Bank (CIB), Alberta Indigenous Opportunities Corporation (AIOC), Selkirk Advisory Group Inc. (Selkirk) and Equitable Life of Canada (Equitable Life) are partnering to support Duchess Solar, a 19.8-megawatt solar facility being constructed in Duchess, Alberta, with a combined $48.1 million in financing. Cold Lake First Nations (CLFN) will hold a majority ownership in the project, developed in partnership with Elemental Energy, with financing from two sources: (1) a $21 million Indigenous Community Infrastructure Initiative loan and a $5.2 million Indigenous Equity Investment loan from the CIB and (2) a $21 million project finance loan substantially guaranteed by AIOC, funded by Equitable Life and arranged by Selkirk. Power produced by 49,700 solar photovoltaic panels will supply approximately 7,000 households with reliable, lower-cost electricity and strengthen Alberta's energy grid. The project will also generate more than 100 jobs during construction, with full-time roles to support long-term operations and maintenance. The CIB's long-term financing, together with Equitable Life's financing supported by an AIOC loan guarantee strengthens CLFN's capacity to take on a majority ownership role. This partnership is expected to result in long-term revenue generation for Cold Lake First Nations that can be reinvested back into the community to support economic and community development opportunities. To date, the CIB has invested more than $1 billion with Indigenous communities across 28 projects. The CIB collaborates with First Nations, Métis and Inuit communities on new projects in partnership with, and for the benefit of Indigenous communities across Canada. AIOC has $3 billion in capacity to facilitate Indigenous investments into major infrastructure projects in the natural resources, agriculture, transportation, telecommunications and tourism industries and plays a vital role in supporting Indigenous-led ownership of transformative infrastructure projects like Duchess Solar. Endorsements Duchess Solar is a great example of how flexible and innovative financing partnerships can drive success for Indigenous-led infrastructure projects. With the CIB's loan paired with private capital and a provincial loan guarantee, Cold Lake First Nations will benefit from meaningful, long lasting and direct economic benefits for future Cory, CEO, Canada Infrastructure Bank As a nation of builders, it's time to build Canada stronger. We are building the strongest economy in the G7, but this can't happen without the full participation of Indigenous peoples. The new Duchess Solar facility will supply 7,000 homes in the region with clean, renewable energy. With the help of the CIB's project financing and Indigenous Equity loans, Cold Lake First Nations will retain majority ownership in the project, marking another important step forward in advancing economic reconciliation for Indigenous Peoples across Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada Cold Lake First Nations is honoured and proud to announce Duchess Solar with our partner Elemental Energy. Building from our vision of expanding our portfolio in clean energy, we look forward to development and operations of a project that will benefit our community for decades. We would like to acknowledge the commitment and creativity of our financial partners, the CIB, AIOC, Selkirk and Equitable Life who have made the financial resources possible for CLFN to hold a majority ownership position. We are grateful for the opportunity to work alongside our partners to deliver an innovative commercial structure. Chief Kelsey Jacko, Łouwe Chok 'Touwe, Cold Lake First Nations Elemental is very excited to complete this creative financing structure to support our growing partnership with Cold Lake First Nations as we look to collaborate to bring additional renewable energy projects to Alberta. We are grateful for the partnership with CLFN and the support of all the financial partners involved who worked diligently and collaboratively to get this across the Houssian, Principal, Elemental Energy This project represents a powerful example of economic reconciliation in action. Through this Alberta Indigenous Opportunities Corporation loan guarantee, we're proud to help Cold Lake First Nations build generational wealth while contributing to Alberta's transition to a more sustainable and reliable power grid — one that includes renewables paired with natural gas. This is what it looks like when Indigenous communities are in the driver's seat of their own economic Martineau, CEO, AIOC This new solar farm is a shining example of the diverse and forward-looking projects supported by the Alberta Indigenous Opportunities Corporation. By empowering Indigenous communities to invest in Alberta's energy future—whether in traditional or renewable sectors—we're supporting local economies, creating jobs and building a stronger, more inclusive economy for generations to Rajan Sawhney, Minister of Indigenous Relations, Government of Alberta Selkirk greatly appreciates the opportunity to support Cold Lake First Nations and Elemental Energy with project financing for this important project, as well as the partnership of Equitable Life, AIOC and the CIB. This project is a great example of what can happen with creativity and collaboration. Selkirk is proud to have participated in such a meaningful way. We look forward to continuing to support the partners through construction and into operations, and in particular, to seeing the impactful economic benefits this project will generate for Cold Lake First Nations community for years to Doubilet, Managing Partner, Selkirk Equitable is proud to play a role in this project which serves to provide additional clean energy to Alberta's grid and economic benefits to Cold Lake First Nations for years to come. It was great to collaborate with Cold Lake First Nations and Elemental Energy and to partner with Selkirk, the CIB and Proper, Executive Vice-President, Investments, Equitable Life Learn More: Canada Infrastructure BankCold Lake First NationsElemental EnergyAlberta Indigenous Opportunities CorporationSelkirk Advisory GroupThe Equitable Life Insurance Company SOURCE Canada Infrastructure Bank View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
