"If Iran's regime is left standing while retaining some control over the strait, it would represent a strategic setback for the U.S. and humiliation for Trump."
"The bigger question is whether this marks the end of American superpower status, dollar dominance, and the petrodollar. More possible if Iran ends up with control of the SoH, but we would not bet on it."
"The idea of a petroyuan or petroeuro replacement remains far-fetched. The GCC has more reason than ever to keep ties with Washington close, given Beijing's perceived closeness to Iran."
The ongoing conflict with Iran has led to concerns about America's superpower status and the dominance of the dollar, particularly with Iran controlling the Strait of Hormuz. Dan Alamariu argues that predictions of U.S. decline are exaggerated. He notes that while Iran's control could signify a strategic setback, it does not necessarily indicate the end of American dominance. Comparisons to historical events like the Suez Crisis are deemed inappropriate, as the U.S. situation differs significantly. The petrodollar remains resilient despite increased risks, with Gulf Cooperation Council countries maintaining strong ties with Washington.
Read at Fortune
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