Another effect was sharp improvement of Iran's economy; the British-led oil embargo against Iran ended, and oil revenue increased significantly beyond the pre-nationalisation level. Despite Iran not controlling its national oil, the Shah agreed to replacing the Anglo-Iranian Oil Company with a consortium—British Petroleum and eight European and American oil companies; in result, oil revenues increased from $34 million in 1954–1955 to $181 million in 1956–1957, and continued increasing, and the United States sent development aid and advisers. The Shah's government attempted to solve the issue of oil nationalization through this method, and Iran began to develop rapidly under his rule. The Shah later in his memoirs declared that Mosaddegh was a "dictator" who was "damaging" Iran through his "stubbornness", while he (the Shah) "followed" the smarter option. By the 1970s, Iran was wealthier than all of its surrounding neighbors, and economists frequently predicted that it would become a major global economic power, and a developed country.