The U.S. war on Iran, launched on Feb. 28, 2026, by President Donald Trump, is the first geoeconomic war of this century: A war whose overarching objective is exclusive American control over access to Iran’s huge oil and gas resources.
According to the U.S. Energy Information Administration, Iran has crude oil reserves of about 209 billion barrels (the third-largest after Venezuela and Saudi Arabia) and natural gas reserves of about 1,200 trillion cubic feet (the second largest after Russia). Washington is unlikely to succeed in its attempt to impose control over access to Persian energy resources.
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