nationalization

¹ Cultural  

1. A government takeover of a private business.

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nationalization ² Cultural  

1. The taking over of private property by a national government.

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Example Sentences

Caracas’s 1976 nationalization of its oil industry, affecting Exxon, Gulf Oil and other U.S. and European companies, effectively ended a half-century of foreign supremacy of the sector.

From The Wall Street Journal • Jan. 8, 2026

The oil major was awarded $10.5 billion plus interest by an international court after the nationalization of Venezuela’s oil industry in 2007.

From MarketWatch • Jan. 5, 2026

Chevron’s position is the product of a strategic decision made during Hugo Chávez’s 2007 nationalization drive.

From Barron's • Jan. 3, 2026

In the time of Hafez Assad, Bashar’s father, Syria was a socialist economy, with Soviet-style nationalization and tight regulation.

From Los Angeles Times • Jan. 30, 2025

They were also concerned about the idea of nationalization, insisting that the ANC and the Freedom Charter supported blanket nationalization for the South African economy.

From "Long Walk to Freedom" by Nelson Mandela