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

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

Author: Ben Norton March 13, 2026 Duration: 52:10
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 Topics 0:00 Iran war, US & Israel 0:32 World War I analogy 1:47 Middle East wars 2:56 Oil reserves 3:51 (CLIP) Trump wants Venezuela's oil 4:14 Oil blockade of Cuba 4:59 Strait of Hormuz 5:40 Trump admin targets Iran's oil 6:06 (CLIP) US wants "to get all of the oil" 6:30 USA is top oil producer 7:11 Dollar as global reserve currency 7:55 Sanctions and financial system 9:00 Dedollarization 9:50 (CLIP) Trump fears dedollarization 10:07 Iran joins BRICS 10:22 Iran promotes dedollarization 11:08 Resistance groups 11:38 Petrodollar system 13:14 US oil deal with Saudi Arabia 15:06 Oil is (mostly) sold in US dollars 16:38 China buys Iranian oil with yuan 17:05 Venezuela sold oil in renminbi 17:26 Petrodollar and Venezuela 18:19 Trump official: Iran war for oil 19:44 USA targets China 20:44 Exorbitant privilege of US dollar 22:26 Commodities priced in USD 23:19 Financial elites benefit 24:17 US stock market: 60% of world 24:54 Global elites hold US assets 26:57 Gold standard to oil standard 28:11 Richest 10% hold 90% of stocks 28:43 Dedollarization grows 29:21 Rise of China (and India) 30:01 China buys oil with yuan 31:20 Iraq sold oil for euro, not USD 32:19 USA controls Iraq's oil revenues 33:30 Venezuela's oil revenues 34:19 Trump fears de-dollarization 35:00 UAE sells China LNG in RMB 36:01 Saudi Arabia considers yuan 36:51 Saudi BRICS invitation 37:15 UAE joined BRICS 37:44 War among BRICS members 38:29 US provokes Saudi-Iran conflict 39:10 China brokers Saudi-Iran deal 39:39 Petrodollar war 40:52 Israel and lobbying 43:34 Israel: US aircraft carrier 44:20 (CLIP) Biden: Israel "investment" 44:36 Israel and petrodollar 45:11 The tail does not wag the dog 46:05 Suez crisis of 1956 47:28 Origins of US-Saudi alliance 48:30 US-Israel alliance is recent 49:58 Bigger picture of US imperialism 51:55 Outro

Trying to make sense of international headlines often feels like seeing only the ripples on the water's surface, without understanding the powerful currents moving beneath. Geopolitical Economy Report, hosted by journalist Ben Norton, dives into those deeper forces. This isn't just a recap of the day's events; it's a dedicated exploration of how economic systems, historical context, and raw power politics fundamentally shape global conflicts and alliances. Each episode builds on the work of the independent news outlet of the same name, translating its original journalism and analysis into a compelling audio format. You'll hear detailed discussions that connect financial policies to social movements, or trace the historical roots of a modern trade war, always with an eye toward understanding the larger, changing structure of the world. For anyone tired of superficial news cycles and seeking a more substantive, connected perspective on why nations and institutions act the way they do, this podcast offers a crucial and clarifying lens. Tune in for a regular dose of context that the mainstream frequently overlooks.
Author: Language: English Episodes: 50

Geopolitical Economy Report
Podcast Episodes
It's official: Iran won the war, and the US lost. This is how [not-audio_url] [/not-audio_url]

Duration: 28:13
The US government has signed an agreement to end its war on Iran. It is now widely admitted that Washington lost, and Tehran won. Ben Norton explains why Donald Trump failed, and how this has massive geopolitical implica…
Why countries are dropping the dollar - and buying gold [not-audio_url] [/not-audio_url]

Duration: 20:56
Gold has officially overtaken Treasury securities (US government debt) as the top asset held by global central banks, according to a report by the European Central Bank (ECB). Ben Norton explains how dedollarization is c…
To fight China, USA literally plans to colonize its ally [not-audio_url] [/not-audio_url]

Duration: 28:41
The US government is desperate to create a new supply chain that cuts out China, through its Pax Silica initiative. To do so, the Trump administration plans to colonize the territory of the Philippines, a supposed "ally"…
War hawks admit Iran defeated USA - and it will change the world [not-audio_url] [/not-audio_url]

Duration: 24:16
It has become so widely accepted that the US lost the war with Iran that now even American neoconservative hawks admit it. Ben Norton explains why major neocons like Robert Kagan and Bill Kristol have turned against the…
Trump's China trip was a failure. This is why [not-audio_url] [/not-audio_url]

Duration: 22:48
Donald Trump said his visit to China was a success, but he failed to pressure Beijing to make any significant concessions. Ben Norton fact-checks the claims of the White House, showing how Washington's trade war backfire…
This is the real reason for Trump's visit to China [not-audio_url] [/not-audio_url]

Duration: 31:21
Donald Trump took a trip to China to meet President Xi Jinping. He was joined by the CEOs of a dozen top US corporations, including billionaires Elon Musk, Jensen Huang of Nvidia, Tim Cook of Apple, Larry Fink of BlackRo…