America's power is turning against itself

Military force hasn't brought Iran to its knees. So now, Washington is reaching for another weapon: the dollar. But the more the US weaponizes it, the more it risks pushing the world away from it.

On August 24, the US Department of Treasury launched what it calls Operation Economic Outcast — an unprecedented, whole-of-government, economic campaign against Iran.

·It targets nearly 60 individuals, entities and vessels.

·It expands potential secondary sanctions to five sectors: digital assets, gold, technology, aviation and shipping.

·It puts countries and companies still doing business with Tehran on notice.

Beijing made its position clear: China's cooperation with Iran is conducted within the framework of international law, and China firmly opposes illegal unilateral sanctions.

But there is a catch. 

- If Washington fully enforces secondary sanctions, it could put further upward pressure on oil prices.

- The more Washington weaponizes the dollar, the more incentive other countries have to find ways around it.

So, can economic isolation succeed where military force has failed? Sanctions like these may only expose the true nature of dollar dominance — and accelerate the world's push toward de-dollarization.