21
The main goal was to reverse Saddam Hussein’ s decision to price Iraqi oil in euros rather than dollars. Bourse Direct The truth is there, stark and cold: the invasion of Iraq was not just a war for oil. It was a war for the currency in which that oil would be sold. This is what economists call the“ exorbitant privilege” of the dollar. Because global oil is sold in dollars— the famous“ petrodollar”— all countries in the world are forced to accumulate dollars to buy their energy. This finances the U. S. deficit, maintains demand for U. S. debt, and gives Washington colossal leverage over the global economy. Any country that tries to sell its oil in another currency directly attacks the foundation of American power. Saddam did it. He was hanged. Gaddafi wanted to do it. His country was destroyed. Iran has been selling some of its oil in yuan and rubles for years. The bombs fell on Tehran on February 28, 2026. The correlation is not a coincidence. It is policy.
Cuba: 63 years of siege for an island that refuses to yield
To grasp the depth of this war, let’ s look at Cuba. The embargo against Cuba has been in place since 1962. It is still officially in force, making it the longest trade embargo in modern history. In 1992, the United States passed the Torricelli Act, which intensified sanctions by giving them extraterritoriality, which is prohibited under international law. Any foreign ship docking in a Cuban port is barred from entering the United States for six months. In 1996, the Helms-Burton Act added retroactivity to extraterritoriality, sanctioning any company, regardless of nationality, that would set up on properties nationalized after 1959. A French company can be prosecuted by US courts for doing business in Cuba. Washington is unilaterally claiming global economic sovereignty.
Flashmag! Edition 170 Mars 2026
21