Trump’s Iran conflict: The first geo-economic war of the 21st century
The U.S. war on Iran, initiated by President Trump in 2026, aims to secure American control over Iran's vast oil and gas resources. Despite ongoing sanctions and military threats, Iran is expected to maintain its sovereignty and control over its energy assets. The conflict is projected to have significant economic repercussions globally, including rising oil prices and reduced economic growth rates in both the U.S. and worldwide.
- ▪The U.S. war on Iran is characterized as the first geoeconomic war of the 21st century.
- ▪Iran has substantial oil and gas reserves, ranking third and second globally, respectively.
- ▪Tehran plans to leverage its geographic position to control access to the Strait of Hormuz, a critical maritime chokepoint.
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The U.S. war on Iran, launched on Feb. 28, 2026, by President Donald Trump, is the first geoeconomic war of this century: A war whose overarching objective is exclusive American control over access to Iran’s huge oil and gas resources. According to the U.S. Energy Information Administration, Iran has crude oil reserves of about 209 billion barrels (the third-largest after Venezuela and Saudi Arabia) and natural gas reserves of about 1,200 trillion cubic feet (the second largest after Russia). Washington is unlikely to succeed in its attempt to impose control over access to Persian energy resources.
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