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Sanctions Become Strikes: The Dangerous Fusion of Financial and Military Power

Sanctions Become Strikes: The Dangerous Fusion of Financial and Military Power

Israel, Iran and the Future of Dollar Hegemony

Adrian Monck's avatar
Adrian Monck
Jun 21, 2025
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7 THINGS
7 THINGS
Sanctions Become Strikes: The Dangerous Fusion of Financial and Military Power
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Key Insights

  • Israeli strikes on Iran’s South Pars gas field in targeted Chinese energy supplies – the first military enforcement of dollar hegemony

  • Giovanni Arrighi’s theory of hegemonic decline predicted this: dominant powers go from production to finance to coercion as their power wanes

  • China’s sanctions-evading oil trade with Iran – 1.5–1.7 million barrels daily through a 300-vessel dark fleet – created physical vulnerabilities that Israel exploited

  • The dollar’s share of global reserves already fell from 71% (2000) to 57–59% (2024–25), accelerating after America froze $300bn in Russian reserves

  • Taiwan represents the ultimate convergence: where semiconductor supply chains, financial systems and military strategy become inseparable

When Israeli jets struck Iran’s South Pars gas field in June 2025, they didn’t just hit energy infrastructure – they destroyed the physical foundations of China’s decade-long project to buy oil outside the dollar system. The message was unmistakable.

This wasn’t sanctions enforcement. It was something new and far more dangerous: the militarisation of the global financial system.

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