President Donald Trump of the United States speculated publicly about the possibility of taking control of Iran’s Kharg Island oil terminal located in the Persian Gulf.
Concurrently, both the United States and Israel maintained their offensive operations against the Islamic Republic, despite emerging indications of advancements in the early stages of ceasefire negotiations.
In a related development, Tehran targeted a crucial water and electricity facility in severely affected Kuwait, as part of its ongoing strategy against the Gulf Arab nations.
So far, there are no signs of any let-up in the fighting, nor a quick fix to the crisis.
Amid the chaos and bloodletting in the Middle East, the Petrodollar war theory is again the talk of the town.
The theory argues that the US engages in overseas interventions not mainly for the sake of national security or humanitarian concerns, nor is it solely about grabbing oil resources.
Instead, the primary motivation lies in maintaining the Dollar’s position as the dominant currency for global energy transactions.
This perspective suggests that nations that try to set oil prices in currencies such as Euros, Yuan, or other alternatives often face sanctions, political instability, or even military invasions.
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