Final answer:
The Iranian Revolution of 1979 was a significant transformation from a monarchy under the US-backed Shah to an Islamic Republic under Ayatollah Khomeini. It involved mass protests against the Shah's regime, brought the economy to a halt, and ended with the Shah's exile and Khomeini's rise to power. This revolution also featured nationalization of the oil industry and a notorious hostage crisis that strained US-Iran relations.
Step-by-step explanation:
The Iranian Revolution was a pivotal event in Iran wherein the US-backed Shah was overthrown and replaced by Ayatollah Khomeini, marking the establishment of an Islamic Republic in January 1979. The revolution began with widespread dissatisfaction and unrest among various groups who opposed the Shah's policies, eventually escalating into mass protests and strikes. In response to a large protest during the holiday marking the end of Ramadan, the Shah imposed martial law, leading to a tragic event where the army fired into a crowd, causing numerous fatalities. The unrest continued to grow, culminating in the Shah fleeing the country and Khomeini taking power, demonstrating the revolution's anti-Western sentiment and demand for a return to Islamic values.
Once in power, Khomeini moved to nationalize the oil industry, which disrupted oil supplies and contributed to a global energy crisis. This period saw significant changes, including adoption of a new constitution making Islam the official religion of the country, and alignment of all laws with Islamic law. Furthermore, the long-standing support of the United States for the Shah led to a surge in anti-American sentiment, famously exemplified by the hostage crisis where American embassy staff were held captive for 444 days.