The transition in recent years from a unipolar to a multipolar world order has created international tensions that seem to threaten to escalate into clashes between regional and global powers.
Concerning tensions between the US and Iran and the resulting threats of war, these should be taken as bluster and bluff. America’s European allies are heavily involved in Iran and depend on the Middle East for their oil and gas imports. A US war against Iran would have devastating consequences for the world economy, with the Europeans seeing their imports halved or reduced.
As Professor Chossudovsky of the strategic think tank Global Research has so ably argued, an attack on Iran is unsustainable, as the oil sectors of the UAE and Saudi Arabia would be hit and shut down. Exports would instantly end after the pipelines going West are bombed by the Houthis and the Strait of Hormuz closed. The economies of these two countries would implode and their ruling class wiped out by internal revolts.
The state of Israel as well as US bases in the region would see themselves overwhelmed with missiles coming from Syria, Lebanon, the Golan Heights and Iran. The Tel Aviv government would last a few hours before capitulating under the pressure of its own citizens, who, like the Europeans, are unused to suffering war at home.
With an election looming, Trump cannot risk triggering a new conflict and betraying one of his most important electoral promises. The Western elite does not seem to have any intention of destroying the petrodollar-based world economy with which it generates its own profits and controls global finance.
It is telling that Washington, London, Tel Aviv and Riyadh have to resort to numerous but ultimately useless provocations against Iran, as they can only rely on hybrid attacks in order to economically isolate it from the rest of the world.
Paradoxically, this strategy has had devastating consequences for the role of the US dollar as a reserve currency together with the SWIFT system. In today’s multipolar environment, acting in such an imperious manner leads to the acceleration of de-dollarization as a way of circumventing sanctions and bans imposed by the US.
A reserve currency is used to facilitate transactions. If the disadvantages come to exceed the benefits, it will progressively be used less and less, until it is replaced by a basket of currencies that more closely reflect the multipolar geopolitical reality.
The warmongers in Washington are exasperated by their continuing inability to curb the resilience and resistance of the people in Venezuela, Iran, Syria, North Korea and Donbass, countries and regions understood by the healthy part of the globe as representing the axis of resistance to US Imperialism.
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