Trump's Iran strikes accelerate a multipolar shift away from dollar dominance

Trump’s strikes on Iran, framed as a breach of international norms, are part of a broader push that is accelerating de-dollarisation and a move toward a multipolar financial system. Central banks are diversifying reserves, new settlement infrastructures and digital currencies are forming, and BRICS-linked initiatives could bypass the dollar. While the dollar remains dominant in trade and U.S. Treasuries are still sought in crises, its share of global reserves has fallen from about 71% in 2001 to roughly 57%, signaling growing non-American financial influence and potential costs for Washington amid rising deficits.