Articles on Iran war

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The petrodollar arrangement has underpinned the dollar’s global dominance since the 1970s. The U.S.-Israel war on Iran is straining that arrangement in ways emergency liquidity tools may not be able to fix. (AP Photo/Matt Slocum)

How the U.S.‑Israel war against Iran is exposing the limits of the petrodollar system

The Iran war is now testing whether the Gulf states that have long recycled their oil revenues into American markets will keep doing so.
President Donald Trump and Britain’s King Charles in the Oval Office of the White House on April 28, 2026, in Washington, during a state visit. (AP Photo/Alex Brandon)

Donald Trump’s chaotic mess: When U.S. power serves the ‘sultan,’ global rules erode

A sultanistic system does not respond to appeals to shared values or long-standing agreements. It responds to leverage, personal relationships with the ruler and transactional incentives.
Opposition Leader Angus Taylor, Nationals leader Matt Canavan and shadow Transport Minister Bridget McKenzie fuel a car at a petrol station in Canberra, Friday, March 26, 2026. Lukas Coch/AAP

Coalition would boost Australia’s fuel reserve to 60 days

A Coalition government would boost Australia’s minimum fuel reserve  to 60 days.
President Donald Trump speaks to the press before departing the White House on April 16, 2026. Celal Gunes/Anadolu via Getty Images

Is Trump heading to a Pyrrhic victory in Iran?

Pyrrhus was said to have remarked that one more victory would leave his kingdom ‘utterly ruined.’ Some see echoes in US interventions in the Middle East.
NATO Secretary General Mark Rutte finds his alliance between Iran and a hard place. AP Photo/Virginia Mayo

NATO’s internal cohesion is being threatened (again) – but in pushing for support on Iran, Trump may risk eroding US influence on the alliance

NATO members have been divided before. But the war in Iran could prove particularly troublesome for an alliance founded at the beginning of the Cold War.
Congress has not used its constitutionally granted power to influence the war in Iran. Bloomberg Creative via Getty Images

Trump sidelined Congress’ authority over war on Iran – and lawmakers allowed it, extending a 75‑year trend

Congress has refused to exercise oversight of the Iran war, with Republicans nixing Democrats’ attempts to exercise legislators’ power over military engagements. That’s nothing new.

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