Did the US Iran war trigger the death of dollar’s dominance?

The United States has long built its global influence not just on military strength, but on the dominance of the dollar. For decades, oil has been priced and traded in dollars, reinforcing what is often called the petrodollar system. It is a simple but powerful loop. Oil flows, dollars follow, and with that comes financial control. But what happens when that loop is disrupted? The recent escalation with Iran appears to have done exactly that. Following strikes that targeted Iran’s leadership and infrastructure, Tehran did not rely solely on conventional retaliation. Instead, it turned to something far more strategic. It…