US-Israeli war on Iran is intensifying all of global capitalism’s problems

US-Israeli war on Iran is intensifying all of global capitalism’s problems

This article was originally published by Truthout on April 09, 2026. It is shared here under a  Creative Commons (CC BY-NC-ND 4.0) license.

On February 28, the U.S. and Israel expanded their joint genocidal war on Gaza onto Iran as well as Lebanon. After weeks of assassinations and bombing, President Donald Trump agreed to a ceasefire on April 7. This war of aggression by the U.S. and Israel is part of a continued attempt to wipe out any and all opposition to their dominance over the Middle East and its strategic energy reserves.

But they underestimated the capacity of the Iranian state. In addition to launching missile and drone attacks throughout the region, Iran blockaded the Strait of Hormuz, disrupting the production and shipment not only of fossil fuels but also an array of other commodities vital to global capitalism. With fossil fuel prices spiking and stocks crashing, Trump called off his threat to wipe out Iranian civilization and agreed to a ceasefire with Iran.

But Israel has already violated it, Iran has re-closed the Strait of Hormuz, and the ceasefire seems in jeopardy on the eve of negotiations for a settlement of the conflict in Pakistan. As a result, the world stands at the precipice of a multidimensional economic crisis.

In this interview for Truthout, Adam Hanieh discusses the U.S. and Israel’s imperialist goals, the war’s impact on the economies of the Global North and Global South, and its consequences for the geopolitical order as well as class and social struggles in the region and around the world. Hanieh is a professor in development studies and director of the SOAS Middle East Institute, University of London.

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Israel Killed More Than 200 People in Deadliest Day of Resumed War on Lebanon

On April 8, less than one day after the Trump administration agreed to a two-week ceasefire deal with Iran, Israel struck Lebanon in its heaviest and deadliest attack on the country since the U.S.-Israeli war on Iran began. At least 250 deaths have been reported. Israeli and U.S. authorities are insisting that the ceasefire proposal did not include Lebanon, where Israel says it is targeting…
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Republicans Block Democrats’ Pro Forma Session Effort to End Trump’s War in Iran

Democratic lawmakers in the House of Representatives were unsuccessful in their attempt on Thursday to pass a war powers resolution to restrict President Donald Trump from continuing to wage war on Iran. The House opened in a pro forma session, due to the continued recess that Republicans, led by Speaker of the House Mike Johnson (R-Louisiana), began two weeks ago. To have passed…
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US-Israeli War on Iran Is Intensifying All of Global Capitalism’s Problems

On February 28, the U.S. and Israel expanded their joint genocidal war on Gaza onto Iran as well as Lebanon. After weeks of assassinations and bombing, President Donald Trump agreed to a ceasefire on April 7. This war of aggression by the U.S. and Israel is part of a continued attempt to wipe out any and all opposition to their dominance over the Middle East and its strategic energy reserves.
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Trump Budget Proposal Shreds Health and Food Programs to Feed the War Machine

Last week, at a private Easter lunch, Donald Trump was caught on a hot mic saying that with the country at war, the federal government should offload Medicaid, Medicare, and child care expenditures onto the states. “We have 50 states. We have all these other people. We’re fighting wars,” the MAGA leader said. “It’s not possible for us to take care of day care, Medicaid, Medicare, all these things.”…
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Reenacting Normalcy While Trump Threatens to Kill Civilizations Is Wrecking Us

On Tuesday evening, as the anxiety, hurt and fear of millions settled into an uneasy and impermanent sense of relief, one sentiment was widely expressed: this is no way to live. This cycle of dread and panic, of being driven to the edge at full speed before someone slams the brakes, harms our nervous systems, and has the potential to break our spirits. Many people seemed acutely aware of this…
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