EasternVol
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I understand Iran was a significant oil source for them but losing access wouldn't have been a catastrophe since they could import from KSA, Iraq, Indonesia and the US.I'm getting into pure speculation and conjecture here as I don't know how much of their GDP was comprised in oil.
If they lost access to the Suez, manufacturing and industry costs go up. Probably devastating, but not necessarily catastrophic. If they lost their oil access, would the cost of shipping matter?
Weren't a few of the 6 armies during the 47/48 Israeli war previously armored by Britain? The Israelis managed to hold them off before re-arming and overwhelming the Arab states with modern technology. I doubt (could be wrong) Iran had anything that could have held up to Britain. I think they were desperate enough they would have tried to go about it with a show of force if they'd had to go about it alone.
I think they were (and Jordan used British officers who pretty much told the troops to stand down) but I don't know how modern the arms were, probably fairly current WWII surplus.
Invading Iran would have taken a lot of manpower and money and I don't know that it would be the UK's preferred plan of action.