The Future of the Dollar
U.S. Financial Power Depends on Washington, Not Beijing
Tensions between Iran and the United States are at their highest point in years. The 2015 Iran nuclear agreement is teetering. The Trump administration is using sanctions to strangle the Iranian economy and in May deployed an aircraft carrier, a missile defense battery, and four bombers to the Middle East. Washington has evacuated nonessential personnel from its embassy in Baghdad, citing intelligence suggesting that Iran is increasingly willing to hit U.S. targets through its military proxies abroad.
The United States also stated that Iran almost certainly perpetrated the recent damage to oil tankers flagged by Saudi Arabia, Norway, and the United Arab Emirates (UAE) and claimed that Iran had temporarily loaded missiles onto small boats in the Persian Gulf. In early May, U.S. National Security Adviser John Bolton publicly threatened a response to any Iranian attacks, “whether by proxy, the Islamic Revolutionary Guards [sic] Corps or regular Iranian forces.”