No corporate overlords. No false equivalencies. No BS. Upgrade to paid to support independent accountability journalism. Since the outset of the Iran War on February 28, President Donald Trump has repeatedly insisted that things are going well. Within a few days, Trump began declaring that the war was “won” and nearly over.
Despite Trump’s claims, the war in Iran is not going well. More than 1,500 people have died, including over 100 school children and 13 U.S. troops. American taxpayers are on the hook for tens of billions of dollars. And all Americans are facing dramatically higher energy prices because the Iranians have closed the Strait of Hormuz, a key oil route, to most tankers. In sum, the U.S. military is mired in a deadly conflict with no clear objectives or exit strategy. According to a report in the Washington Post, the new “goal” of the military campaign is to open the Strait of Hormuz, returning the region to the status quo before the war began. In recent days, Trump has responded to the deteriorating situation with a series of erratic, disturbing, and puzzling moves. Trump’s $14 billion gift to IranOn Friday, Treasury Secretary Scott Bessent announced that, in an attempt to lower oil prices, the Treasury Department was temporarily lifting sanctions on Iranian oil already at sea. The license, which extends through April 19, will allow most countries to purchase oil from Iran that was already loaded onto a ship as of Friday. “By temporarily unlocking this existing supply for the world, the United States will quickly bring approximately 140 million barrels of oil to global markets, expanding the amount of worldwide energy and helping to relieve the temporary pressures on supply caused by Iran,” Bessent wrote in a post on X. But lifting sanctions on Iranian oil could bring a financial windfall to Iran at the same time that the U.S. is in a war with the country. In the post, Bessent argued that “Iran will have difficulty accessing any revenue generated and the United States will continue to maintain maximum pressure on Iran and its ability to access the international financial system.” But it is not clear how the U.S. could prevent Iran from accessing the revenue. According to NBC, at current prices as of March 21, the amount of Iranian oil that the Trump administration lifted sanctions on “would be worth more than $14 billion for Tehran.” Trump has repeatedly criticized the Obama administration for giving Iran access to cash. “We gave $1.8 billion in cash. That’s actual cash, barrels of cash. It’s insane. It’s ridiculous,” Trump said in 2018. The Obama administration agreed to give Iran around $1.7 billion in cash to “resolve an arms contract between the United States and Iran that predated the Iranian revolution in 1979.” This was money that Iran had originally paid to the U.S. and was subject to an extended legal dispute. It was also a fraction of what Iran could earn from the lifting of sanctions. Trump has also criticized part of the Iran nuclear deal that allowed Iran to access some assets held abroad that were frozen under sanctions. The exact amount is not clear, with estimates ranging from $25 billion to $150 billion. As part of the deal, the Obama administration received a pledge that Iran would not develop nuclear weapons and an agreement for robust inspections. The Trump administration, on the other hand, lifted sanctions against Iran in exchange for nothing. When asked Monday about the decision to lift the sanctions on Iranian oil and his previous criticism of the Obama administration giving Iran cash, Trump said, “I just want to have as much oil in the system as possible. And we don’t even know if Iran gets that money. Frankly, I think it’s very hard for them to get it.” Trump added, “Any small amount of money that Iran gets is not going to have any difference in this war.” Trump threatens to commit a war crimeOn Saturday, Trump posted on Truth Social that Iran must “FULLY OPEN, WITHOUT THREAT” the Strait of Hormuz within 48 hours. If that didn’t occur, Trump said he would order the U.S. military to “obliterate” Iran’s “various POWER PLANTS, STARTING WITH THE BIGGEST ONE FIRST!” There were a few problems with this threat. First, what Trump is describing is illegal. The Geneva Conventions prohibit civilian target |