US war on Iran isn't just about Israel; it's mainly about oil and dollar dominance from Geopolitical Economy Report

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Ben Norton

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US war on Iran isn't just about Israel; it's mainly about oil and dollar dominance

52 minutes Posted Mar 13, 2026 at 1:46 pm.

Iran war, US & Israel

World War I analogy

Middle East wars

Oil reserves

(CLIP) Trump wants Venezuela's oil

Oil blockade of Cuba

Strait of Hormuz

Trump admin targets Iran's oil

(CLIP) US wants "to get all of the oil"

USA is top oil producer

Dollar as global reserve currency

Sanctions and financial system

Dedollarization

(CLIP) Trump fears dedollarization

Iran joins BRICS

Iran promotes dedollarization

Resistance groups

Petrodollar system

US oil deal with Saudi Arabia

Oil is (mostly) sold in US dollars

China buys Iranian oil with yuan

Venezuela sold oil in renminbi

Petrodollar and Venezuela

Trump official: Iran war for oil

USA targets China

Exorbitant privilege of US dollar

Commodities priced in USD

Financial elites benefit

US stock market: 60% of world

Global elites hold US assets

Gold standard to oil standard

Richest 10% hold 90% of stocks

Dedollarization grows

Rise of China (and India)

China buys oil with yuan

Iraq sold oil for euro, not USD

USA controls Iraq's oil revenues

Venezuela's oil revenues

Trump fears de-dollarization

UAE sells China LNG in RMB

Saudi Arabia considers yuan

Saudi BRICS invitation

UAE joined BRICS

War among BRICS members

US provokes Saudi-Iran conflict

China brokers Saudi-Iran deal

Petrodollar war

Israel and lobbying

Israel: US aircraft carrier

(CLIP) Biden: Israel "investment"

Israel and petrodollar

The tail does not wag the dog

Suez crisis of 1956

Origins of US-Saudi alliance

US-Israel alliance is recent

Bigger picture of US imperialism

Outro

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Why is the USA waging war on Iran? It's not just because of Israel. Washington wants to control the oil of the Middle East (West Asia) to maintain the petrodollar system. The Trump admin fears the dedollarization movement's challenge to the global reserve currency, which is the US empire's most powerful tool. Ben Norton explains.

VIDEO: https://www.youtube.com/watch?v=zcXrvKVsPV8

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