The Iran Obsession

I was reading an old Atlantic Monthly from November 2007 and came across this quote:

We’ve got to be patient and committed [in Iraq], but we’ve got to multitask… We’ve got to talk about Iran – Iran is more dangerous than Iraq – and we have got to get the job done in Afghanistan and in Pakistan.

That was Rudolph Giuliani, speaking as a Republican presidential candidate in July 2007.

Back then, the saying was that everyone wants to go to Baghdad but that real men want to go to Tehran. Weirdly, neither Iran nor Iraq had anything to do with the 9/11 attacks in 2001. What those countries did have was oil – and lots of it.

The Iran obsession persists, of course, and it’s shared by both political parties. When she ran for president in 2024, Kamala Harris identified Iran as the greatest adversary the United States faced in the world.

The truth is that neither Iran nor Iraq posed a direct or imminent threat to the USA. What each country possessed was an enormous amount of oil and political leaders who didn’t want to kowtow to U.S. economic imperatives.

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Israeli Claims About an Iran ‘Threat’ Were Always a Lie. Now We Have Proof

Could it be that Israel’s 30-year narrative about Iran – one that persuaded US President Donald Trump to wage a criminal and disastrous war of aggression – was always a fiction, an invention cooked up in Tel Aviv?

Far from Tehran posing an existential danger to Israel, as Prime Minister Benjamin Netanyahu has claimed for decades, might Israel’s real fear be that a stronger Iran would undermine its unique leverage over Washington, threatening its status as the region’s sole – and unmonitored – nuclear power?

Might large parts of the globe be facing economic meltdown simply so that Israel can remain the Middle East’s top dog – an unaccountable apartheid state committing genocide against the Palestinian people and ethnically cleansing southern Lebanon?

We got a definitive answer last week, care of the New York Times. It is an uncompromising yes to all of these questions.

The newspaper reported that Netanyahu not only mis-sold Trump on the idea of quick regime change in Iran following a short “shock and awe” bombing campaign. He also identified to the White House who was going to replace Ayatollah Ali Khamenei, Iran’s supreme religious leader.

Extraordinarily, according to the Times, Netanyahu named the man for the job as former Iranian President Mahmoud Ahmadinejad. The aim at the start of the air campaign was for Israel to kill Khamenei, then liberate Ahmadinejad from house arrest by striking the guards who were confining him.

Presumably, Ahmadinejad was then supposed to storm the citadel and seize the keys to the palace. But only Khamenei’s assassination went according to plan.

Ahmadinejad, who had reportedly been consulted on the scheme beforehand, is believed to have been injured in the Israeli strike near his home. He got cold feet, possibly suspecting he was being set up for assassination too, and went into hiding. His current whereabouts and medical condition are unknown.

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Did Iran Get Its Hands On A US Stealth Missile? JASSM-ER Wreckage Sparks Reverse-Engineering Fears

The U.S. committed nearly its entire stockpile of stealthy JASSM-ER cruise missiles to the military campaign against Iran and has fired at least 1,000 of these long-range, stealthy, precision cruise missiles to hit high-value IRGC targets.

One of the unavoidable risks of deploying advanced weapons, such as the JASSM-ER, is that unexploded or partially intact systems can fall into enemy hands, allowing adversaries to study U.S. technology, refine countermeasures, and accelerate the development of copycat versions.

A new report from Army Recognition, citing defense journalist Babak Taghvaee, claims Iran has recovered wreckage from a JASSM-ER near Arak, potentially giving Tehran access to fragments of the missile.

“The recovered debris reportedly includes composite airframe sections, structural components, propulsion fragments, and possible avionics elements that could reveal insights into stealth construction, fuel-efficient propulsion, and survivability design,” according to the military blog.

Army Recognition cited images posted on X by Taghvaee showing what is described as badly damaged JASSM-ER wreckage recovered in Iran. The missile appears largely intact and possibly unexploded, which, if confirmed, would give Tehran higher-value intelligence on the advanced missile.

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Nothing more dangerous than a Netanyahu scorned

The emerging deal between the United States and Iran represents an existential danger to Israeli Prime Minister Benjamin Netanyahu’s political future.

With his coalition fracturing and elections approaching, Netanyahu can’t survive a peace that leaves Hezbollah intact and Iran’s nuclear program deferred. The only path that may keep his future viable now runs through Lebanon.

This may help explain why, just hours after President Donald Trump announced that a deal with Iran was “largely negotiated” through talks that excluded Israel, Netanyahu ordered the Israeli military to “increase the blows” against Hezbollah, adding on Monday that “we are deepening our operation in Lebanon.”

Israel has now issued evacuation orders for two of southern Lebanon’s biggest cities, and Israeli aircraft have struck over 100 sites in southern Lebanon, adding to a death toll that has now surpassed 3,000 since the latest escalation in March, according to Lebanon’s health ministry. This comes as Lebanese and Israeli officials are engaged in historic, U.S.-brokered talks in Washington, including a security track that was due to be launched on May 29.

When the U.S. and Israel initiated strikes on Iran in late February, Netanyau framed the aims of the campaign in maximalist terms: destroy Iran’s nuclear and ballistic missile capacity, sever Tehran’s support for regional proxies, and, most ambitiously, overthrow the Islamic Republic.

Three months later, Iran is still standing. The deal taking shape between the Trump administration and the Islamic Republic addresses almost none of these objectives in the preliminary phase, focusing instead on restarting maritime shipping and bringing an end to direct U.S.-Iran hostilities.

The blowback from Israeli politicians and commentators has been fierce. Israeli opposition leader and former Prime Minister Yair Lapid said the deal was “bad for Israel, bad for the region, bad for the people of Iran.” Itamar Ben-Gvir, Israel’s national security minister and a key coalition partner in Netanyahu’s government, framed the proposal in similar terms, calling it “an agreement that can harm the State of Israel.”

Against this background, Netanyahu’s predicament is especially acute. He co-launched a war that degraded Iran’s capabilities but failed to bring Tehran to heel. He has been excluded from negotiations on the conflict’s outcome and now faces an electorate that is expected to hit the polls as early as September. With these elections looming, only 10% of Israelis viewed the Iran campaign as a significant success when polled in mid-April.

The dominant analysis holds that Netanyahu is trying to drag out the election timeline, hoping to buy more time to achieve something he can market to voters on the security and diplomatic fronts. Lebanon is a key part of that calculation.

The immediate trigger for the escalation in Lebanon has a tactical dimension distinct from the emerging Iran deal. Hezbollah has deployed fiber-optic drones against Israeli troops occupying a self-declared buffer zone or “Yellow Line” in southern Lebanon. These cheap drones are unjammable because they avoid radio frequencies. Multiple Israeli soldiers have been killed or severely wounded by these drones, and some have struck civilian homes within Israel.

In response, Israel’s finance minister, Bezalel Smotrich, approved a $700 million budget for counter-drone operations and added that playing defense was insufficient. “For every explosive drone, ten buildings in Beirut should fall,” Smotrich said. The Israeli military’s chief of staff, Eyal Zamir, agreed that Beirut should be struck. Ben-Gvir went furthest: “It is time for the Prime Minister to knock on Trump’s desk and inform him that we are returning to war in Lebanon. We need to cut off the electricity in Lebanon..and return to a fierce war.”

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3 Months of Trump’s Disastrous Iran War Has Cost US Consumers $60 Billion in Extra Energy Costs​

 Americans have made clear since President Donald Trump joined Israel in beginning an unprovoked war on Iran that they view the conflict-of-choice as damaging to their financial well-being—and that they blame the president for the higher cost of fuel since the war started in February.

On Friday, Moody’s Analytics put an exact number on the heightened financial anxiety families across the country have been feeling over the past three months as Iran’s closure of the Strait of Hormuz has sent fuel prices soaring: $447.19.

That’s how much the average US household has had to additionally spend on fuel-related expenses since Trump and Israeli Prime Minister Benjamin Netanyanu launched their attack on February 28, Moody’s told CNBC.

Altogether, Americans have spent a total of nearly $60 billion on gas, airline fares, and other related costs as the strait, a key shipping route for oil, has remained effectively closed.

According to AAA, the average price of a gallon of regular gas stands at $4.39—up close to 50% since early March. Diesel now costs $5.52 per gallon, forcing consumers to pay $20 billion more in additional expenses on groceries and other goods.

“The economy isn’t just soft, it’s struggling,” Mark Zandi, Moody’s chief economist, said Thursday. “The Iran war needs to end, and the Strait of Hormuz needs to be reopened soon, or recession will become more likely than not.”

As CNBC reported Friday, “higher energy costs can force consumers to raid their savings and lean more on debt to cover expenses.”

Trump flatly said earlier this month that he doesn’t consider Americans’ financial situation “even a little bit” when it comes to the war on Iran, while National Economic Council Director Kevin Hassett posited earlier this week that Americans are “spending more money” not because higher prices are forcing them to but because they’re “very, very optimistic about the state of the economy.” He also bragged recently that “credit card spending is through the roof”—a sign several observers took not as a positive omen for the economy but as a sign that families are being forced to take on debt to pay for gas and other essentials.

Zandi provided a reality check Friday.

“Unless the war ends soon, financially pressed consumers will have no option but to turn more cautious in their spending, threatening the already soft economy,” he told CNBC, warning that families could end up spending nearly $2,000 extra on fuel-related costs if the war continues reaches the one-year mark.

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Intercepted Iranian Missile Injures 5 Americans At Kuwaiti Air Base; Tehran Identifies Two Key MOU Sticking Points

A Saturday message and warning from Iran’s Khatam al-Anbiya Central Headquarters via Al Jazeera: “The management of the Strait of Hormuz is exercised with full authority by the Armed Forces of the Islamic Republic of Iran.” It added that “all ships, commercial vessels and tankers are only required to travel through the designated routes and obtain permission from the Islamic Revolutionary Guard Corps Navy.”

So despite President Trump’s latest warning which declared strict conditions on reopening the Strait of Hormuz, Tehran appears to be completely brushing his words aside, and is moving closer to formalizing its authority over vital energy shipping waterway.

State-run Nour News is reporting that a bill outlining Tehran’s role in managing passage through the strategic waterway has been finalized and is expected to be brought to a vote soon.

According to Bloomberg, Iranian lawmaker Alireza Salimi did not provide a specific timeline for the vote but said the legislation is on track to become law. Salimi said that “only Iran and Oman can decide on Strait of Hormuz management” – adding that “the Omani side has given preliminary approval” to Tehran’s plan. He further emphasized the strategic importance of Hormuz, declaring that “the Strait of Hormuz is more important and more valuable to the Islamic Republic of Iran than dozens of nuclear bombs.”

Previous comments by Salimi indicate the bill would cover shipping security, the collection of navigation and environmental pollution fees, as well as the creation of a regional development and progress fund – all of which critics have dismissed as but Tehran’s ruse to collect what is in effect a “toll”. The legislation is expected to undergo review by Iran’s Guardian Council, which is responsible for vetting and approving all laws before they take effect.

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Iranian Opposition News Outlet Got $800 Million In Debt Relief: Report

An $870m debt-relief deal suggests that Iran International, an Iranian opposition outlet, has ties to Saudi Arabian investors, according to a Financial Times report on Thursday. The links stem from documents related to a debt-for-equity swap that Iran International conducted in December to shore up its finances. Iran International has spent hundreds of millions of dollars since its founding in 2017 by British-Saudi investors, the FT reported.

According to the report, Iran International’s parent company, Volant Media UK, has lost more than $550m over the past five years, and it owes related entities about $645m. Those numbers came from documents that the FT reported as covering the financial year ending December 2024.

Iran International says it is the “most popular Persian speaking foreign based news channel in Iran”.It employs 700 people and broadcasts into Iran from London via satellite, radio and social media outlets.

Iran International has been accused by critics of promoting “regime change” in Iran and advancing the position of the former shah’s son, Reza Pahlavi, for a return to power. The outlet has long denied links to Israel or Saudi Arabia.

Iran International reported heavily on protests that struck Iran at the beginning of this year, sparked by a cost-of-living crisis brought on, in part, by US sanctions.

In January 2025, the news site reported that more than 36,500 people were killed in a crackdown on protests. Those numbers were significantly higher than those estimated by the US and other western-based human rights groups.

US President Donald Trump cited casualty numbers similar to those reported by Iran International days before launching a war on Iran on February 28, but did not disclose where he had gotten the death toll number.

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Pax Silica, the Gaza genocide, and the crisis of global capitalism

The U.S.-Israeli war on Iran has for the moment turned international attention away from Gaza as Israel moves from high- to low-intensity genocide.  The genocide may be the horrific culmination of 75-plus years of Zionist settler colonialism, occupation, and apartheid, but in order to make sense of it we must analyze the radical transformations that have taken place in the Middle Eastern and global political economy in recent decades.

The impulse to genocide has always been built into the Zionist project. But that impulse has been activated by the epochal crisis of global capitalism. The Al Aqsa Flood attack of October 2023 furnished Israel with the historic opportunity for which they had been waiting for decades.  If the Zionists are still in pursuit of their elusive Eretz Israel, the United States has been heading up a much more expansive project, one that places Gaza in the very center of global capitalism and its epochal crisis.  In the game plan of the Washington-Tel Aviv axis, Gaza is now to become an experimental field for a new and deadlier phase of global capitalism.  It is this larger picture that we want to lay out in this article.

The contemporary crisis of global capitalism is multidimensional. Structurally it is a crisis of overaccumulation, which refers to a situation in which enormous amounts of capital (profits) are built up but this capital cannot find productive outlets for reinvestment.  This overaccumulation crisis generates intense pressure for expansion as transnational capitalists undertake a predatory search for where to unload massive amounts of surplus capital and open up new spaces for profit-making.  This violent expansion involves the seizure of markets and resources around the world through war, displacement, and repression.  The U.S. state and beyond it, what we will call Global Trumpism, is its out-of-control instrument in this expansionary wave.  At the core of Global Trumpism is the Washington-Tel Aviv axis.

The larger backdrop to the Israeli genocide is the transnational integration of capital over the past half century and the radical restructuring of global class relations and power blocs that capitalist globalization has brought about. Globalization in West Asia region began in the 1980s and accelerated with the 2003 U.S. invasion and occupation of Iraq that followed the establishment in 1997 of the Middle East Free Trade Area (MEFTA) and a host of related bilateral and multilateral regional and extra-regional free trade agreements, structural adjustment programs and IMF-supervised austerity.

This integration unleashed a cascade of transnational corporate and financial investment in finance, energy, high-tech, construction, infrastructure, luxury consumption, tourism and other services.  It brought Gulf capital, including trillions of dollars in sovereign wealth funds, together with capital from all around the world, involving the EU, North and Latin America, and Asia, inextricably enmeshing them all in emerging global circuits of accumulation.  In this way, nationally-oriented Arab bourgeoisies transmorphed into transnationally-oriented bourgeoisies as the entire region became incorporated into the globally-integrated production, financial, and service system that came into being over the past half century.

Israel, far from remaining excluded, integrated into these expanding regional and transnational capitalist networks on the heels of the Oslo “peace” accords, signed in 1993, as the Israeli and Arab bourgeoisies began to develop common class interests.  In 2020 the UAE and Bahrain, along with Morocco and Sudan, signed the Abraham Accords, joining Egypt and Jordan in normalizing relations with Israeli, an opening that allowed Gulf investment groups to pour billions of dollars into the Israeli economy.  The October 2023 Al Aqsa attack and the subsequent Israeli siege placed further normalization on hold.  The new U.S.-Israeli strategy revolving around the “Board of Peace” (henceforth, Board of Genocide) seeks to bring the Arab and other states in the region back into the Abraham architecture.

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‘We Outright Grabbed The Wallets’: Bessent Boasts $1BN In Iran State Crypto Seized To Date

Washington’s economic war on Iran and its ‘shadow’ banking network continues, as on Friday Treasury Secretary Scott Bessent announced the US has seized $1 billion in Iranian cryptocurrency assets as part of the economic component of President Trump’s Operation Epic Fury.

The billion dollar figure represents the running total seized to date, building on prior milestones in the conflict, particularly a recent major April 2026 freeze of $344 million in USDT on the Tron blockchain. By close of April, $500 million total had been seized.

And so clearly with the addition since then of some half-billion dollars more in seized digital assets, the US Treasury program has only greatly accelerated in the last several weeks.

During his Friday speech before the Reagan National Economic Forum, Bessent stated:

“Just outright grabbed the wallets. Some of them may be typing in right now and might not realize their wallet had been grabbed.”

Assets are held “on behalf of the Iranian people” – he described, while framing that the Iranian government had ‘stolen’ the money from the Iranian populace.

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Does Reporting Bad News About the Iran War Make You a Foreign Agent?

The Trump administration has made no secret of its desire to censor bad news about the Iran war. President Donald Trump even accused journalists of treason during the war. Now the administration has found a specific (if extremely tenuous) legal justification for his claims: the Foreign Agents Registration Act (FARA).

After The Bulwark journalist Tim Miller shared someone else’s paraphrase of an Iranian TV news report about the ceasefire negotiations, the official White House Rapid Response account on X commented that Miller is “starting to take Iranian state media as fact and peddle disinformation on their behalf. Maybe Tim should register under FARA for being an agent of a foreign country.”

On its face, Miller’s criticism falls far outside of FARA. All he did was comment on a public report. But it wouldn’t be the first time the federal government tried to weaponize FARA against domestic critics.

Passed in 1938 to root out Nazi agents, the law requires anyone conducting political activities “at the order, request, or under the direction or control” of a foreign power to register publicly or face jail time or fines.

In 1951, the Department of Justice tried to prosecute civil rights activist W.E.B. Du Bois under FARA for republishing an international communist-led petition against nuclear weapons. A judge threw out the case after prosecutors failed to present evidence of any concrete Soviet ties. Since then, the government has mostly used FARA to prosecute foreign spies short of the Espionage Act, to add another layer of red tape to foreign lobbying, and to throw the book at corruption schemes involving foreigners.

Still, the law is “strikingly sweeping, capturing much other conduct that most people would not think should be registrable,” according to a 2022 article in Just Security, which recommended narrowing the foreign-agent law to avoid abuse. The Department of Justice once required an American church to register as a foreign agent for bringing foreign congregants to the March for Life rally in Washington, D.C. Until 2024, the department also considered paid tourism promoters foreign agents.

The first Trump administration pushed RussianChinese, and Qatari news outlets to register as foreign agents. The nonprofit Committee to Protect Journalists accused the Department of Justice of using FARA as a political cudgel and undermining freedom of the press.

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