Teymourtash's success in revoking the capitulation treaties, and the failure of the Anglo-Iranian Agreement of 1919 earlier, led to intense diplomatic efforts by the British government to regularize relations between the two countries on a treaty basis. The ire of the British Government was raised, however, by Persian diplomatic claims to the oil-rich regions of the Greater and Lesser Tunbs islands, Abu Musa and Bahrain in the Persian Gulf region. On the economic front, on the other hand, the Minister of Court's pressures to rescind the monopoly rights of the British-owned Imperial Bank of Persia to issue banknotes in Iran, the Iranian Trade Monopoly Law of 1928, and prohibitions whereby the British Government and APOC were no longer permitted to enter into direct agreements with their client tribes, as had been the case in the past, did little to satisfy British expectations. The cumulative impact of these demands on the British Government was well expressed by Sir Robert Clive, Britain's Minister to Tehran, who in 1931 noted in a report to the Foreign Office: "There are indications, indeed that their present policy is to see how far they can push us in the way of concessions, and I feel we shall never re-establish our waning prestige or even be able to treat the Persian government on equal terms, until we are in a position to call a halt".