The Russian Revolution and Branobel
On April 28, 1920, the Bolsheviks seized power in Baku and Branobel's oil business in Azerbaijan was nationalized. In May 1920, the Nobel family sold almost half of Branobel's shares in its possession to Standard Oil of New Jersey. At the time it was considered uncertain whether the Bolshevik regime would last and the negotiation led by Gustav Nobel, on one side, and Walter C. Teagle, on the other, proved to be a profitable masterstroke for the Nobel family.
Branobel was formally dissolved in 1959 and its last President was Nils Nobel-Oleinikoff, son of Marta Nobel-Oleinikoff and grandson of Ludvig Nobel.
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Famous quotes containing the words russian and/or revolution:
“To be born in a new country one has to die in the motherland.”
—Irina Mogilevskaya, Russian student. “Immigrating to the U.S.,” student paper in an English as a Second Language class, Hunter College, 1995.
“You don’t know what you might be if you would look beyond the ball, the opera, the fashion-plate—and right over the heads of the perfumed, mustached bipeds who call themselves men and worship at your feet.”
—Mattie Chappelle, U.S. women’s magazine contributor. The Revolution (April 28, 1870)