US-Israel Operation Epic Fury Kills Iranian Supreme Leader
Donald Trump authorized a massive military campaign that killed Ali Khamenei, triggering a global energy crisis and a shift away from the US dollar.
The United States and Israel launched Operation Epic Fury on February 28, 2026, executing 900 military strikes over 12 hours. The campaign resulted in the death of Iranian Supreme Leader Ali Khamenei and triggered a severe global economic shock.
Donald Trump responded to the escalation by implementing severe sanctions and rhetorically claiming the Strait of Hormuz as New US Territory. The conflict drove Dubai crude oil to a record $166 per barrel by March 19 and caused Iran's economy to contract by over 6 percent. The International Monetary Fund and World Bank warned of a potential global recession, with significant GDP losses projected for Kuwait and Qatar due to energy disruptions.
A Qatari-brokered ceasefire was eventually reached in September 2026. However, the conflict accelerated a global shift away from the US dollar, as Russia, Saudi Arabia, and other BRICS nations increased their use of the yuan for trade.
