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Is the US empire in the middle of a long decline?

Is the US empire in the middle of a long decline?

Iran war has put the US in a situation where ‘it’s not in control but can’t walk away’, argues economist Richard Wolff. When the United States threatens to take over countries and destroy civilisations, “these are the wild gesticulations of a sinking enterprise”, argues Richard Wolff, professor emeritus of economics at the University of Massachusetts. Wolff tells host Steve Clemons that US leaders refuse to face the reality that the US empire is in decline. Around the world, he adds, people are “deeply internalising” the lessons from the US’s inability to defeat Iran. The people in the US are becoming “bitterly angry” at their situation, where the richest 10 percent of Americans own 80 percent of corporate stocks, making the stock market “utterly irrelevant” to the masses. Published On 11 May 202611 May 2026 Click here to share on social media share-nodes Share googleAdd Al Jazeera on Googleinfo Adblock test (Why?)

Iran war effect: Why is Modi asking Indians to avoid foreign trips, gold?

Iran war effect: Why is Modi asking Indians to avoid foreign trips, gold?

Prime Minister Narendra Modi has urged Indians to work from home, avoid international trips and not buy gold during the United States-Israeli war on Iran, which has caused global energy prices to surge, adding pressure on India’s foreign exchange reserves. Modi made his plea during a public event in the southern city of Hyderabad on Sunday. Recommended Stories list of 4 itemsend of list Here is more about what Modi said, what’s behind the Indian government’s concerns and how they’re linked to the war on Iran. What did Modi say? Modi said people should move to online meetings instead of physical gatherings and use the work-from-home model that was adopted globally during the COVID-19 pandemic. He explained that such practices would cut down the use of fuel. Additionally, Modi urged people to use public transport and carpooling to save fuel. He called on families to reduce their cooking oil consumption, describing that move as both healthy and patriotic. Modi also asked Indians to avoid buying gold and to cut nonessential overseas travel for at least a year. The prime minister asked farmers to cut their fertiliser use by as much as half. And he explained his justification for asking the people of India to make these changes in their lifestyles and plans: “In the current situation, we must place great emphasis on saving foreign exchange.” What’s the ‘current situation’ Modi was talking about? Simply put, Modi was referring to the war on Iran and its far-reaching economic consequences, especially for India. Early in the war too, Modi had compared the economic crisis spawned by the conflict to the situation during the COVID-19 pandemic. On Sunday, he extended that parallel to also ask Indians to adopt some of the restrictive measures forced upon the world by the coronavirus crisis. Advertisement Oil prices have climbed due to the war on Iran, which started on February 28. A barrel of Brent crude, the international benchmark, was worth $72.87 on February 27. As of Monday, a barrel of Brent crude was worth $105.45, an almost 50 percent increase. Iranian attacks on oil and gas facilities in the Gulf in the early weeks of the war impacted energy supplies. Since early March, Iran has also restricted passage through the Strait of Hormuz, the narrow waterway through which 20 percent of the world’s oil and liquefied natural gas supplies passed before the war. Iran has allowed passage by vessels from select countries that need to negotiate their transit with the Islamic Revolutionary Guard Corps. In April, the US announced a naval blockade on ships entering or leaving Iranian ports, further adding to the disruption of global oil and gas supplies. With rising fuel costs, airlines have hiked ticket prices. According to the travel search site Kayak, the average international airfare from the US to all destinations was $1,101 in the last week of April, a 16 percent increase from the same period a year earlier. Nearly half of the world’s traded urea, the most widely used fertiliser, and large volumes of other fertilisers are exported from Gulf countries through the Strait of Hormuz. Those supplies have now been dramatically disrupted. “Patriotism is not only about the willingness to sacrifice one’s life on the border. In these times, it is about living responsibly and fulfilling our duties to the nation in our daily lives,” Modi said. And those duties and responsibilities, per Modi’s comments, centre on India’s foreign exchange reserves. What are India’s foreign exchange reserves? India’s foreign exchange reserves as of May 1 were $690.69bn, down $7.79bn, or about 1.12 percent, from the end of March, according to the Reserve Bank of India, the central bank. Compared with where India’s reserves stood before the war, the fall is more precipitous. As of February 27, India’s foreign exchange reserves stood at $728.5bn. The International Monetary Fund projected that India’s current account deficit (CAD) will be $84bn in 2026. A negative CAD means that it is effectively overdrawn – it has spent more money than it has. What do oil, gold, foreign travel and fertilisers have to do with all of this? India is the world’s third largest oil importer after China and the US. From April 2025 to March, the last Indian financial year, the country imported crude oil worth $123bn. That is the single largest contributor to India’s import budget. Advertisement At second spot? Gold. Indians imported gold worth $72bn in the 2025-2026 fiscal year, second in the world only to China. According to the travel insurance firm ACKO, Indians travelling abroad spent $31.7bn in 2023-2024. In 2024, about 30.9 million Indian nationals departed India, according to data from the Bureau of Immigration. This was up from about 27.9 million Indian nationals in 2023. India is also the world’s largest importer of urea – it imported about 10 million tonnes of the fertiliser last year, according to analysis from S&P Global. Why is this worrying for India right now? India’s foreign exchange reserves are depleted by large volumes of imports of oil, gold, fertilisers and by Indians spending abroad. However, of these expenses, oil and fertilisers are hard for India to cut back on. Energy imports are essential to drive India’s economy, and fertilisers are critical both for the country’s agrarian economy – more than half of the country’s families depend on agriculture – and for food supplies. That leaves gold and foreign travel. Whether Indians will take up Modi’s call, though, is unclear. Adblock test (Why?)

Israeli killings in Lebanon rise: Is even the pretence of a ceasefire over?

Israeli killings in Lebanon rise: Is even the pretence of a ceasefire over?

The ceasefire in Lebanon that started on April 16 is increasingly coming under strain, with both Israel and Hezbollah ramping up attacks against each other. The ceasefire began after six weeks of fighting between Israel and Hezbollah. But the following day, Lebanon’s army reported several violations by Israeli forces. Since then, both Israel and Hezbollah have continued attacks. Recommended Stories list of 3 itemsend of list Is even the pretence of a ceasefire over? What could happen? Here’s what we know: What are Israel’s most recent attacks? Since Israel began its war on Lebanon on March 2, at least 2,846 people have been killed and more than a million displaced. Israel’s offensive has included a major ground invasion and the occupation of southern Lebanon. On Sunday, the Lebanese Health Ministry said Israeli attacks across the country had killed 51 people, including two medical workers. “The Israeli enemy continues to violate international laws and humanitarian norms, adding more crimes against paramedics, as it directly targeted two points of the Health Authority in Qalawiya and Tibnin, Bint Jbeil district, in two raids,” the ministry said. Since Israel’s war on Lebanon began on March 2, the United Nations says at least 103 Lebanese medical workers have been killed and 230 injured in more than 130 Israeli strikes. “We’re under threat every second, every day,” Ali Safiuddin, the head of the Lebanese Civil Defence in Tyre in southern Lebanon, told Al Jazeera on Sunday. “We ask ourselves if we’re going to survive or if we’re going to die, we know we’ve already given up our lives by working here. We’ve lost so many people and it feels like we’re already gone as well.” Advertisement Al Jazeera’s Obaida Hitto, reporting from Tyre, said on Sunday that “international humanitarian laws are clear: medical personnel and first responders, like the Lebanese Civil Defence, must be protected in armed conflict, but on this front line, the question isn’t whether another strike is coming. It’s how many people will be left to answer the calls for help”. Dr Tahir Mohammed, a war surgeon, and humanitarian worker who’s worked in both Gaza and Lebanon, told Al Jazeera that he saw parallels in Israeli actions in both places. “We used to see our colleagues in Gaza come through the door all the time. I’ve had colleagues, nurses, medical students killed by Israeli weapons, and so to see the same policy of targeting healthcare workers in Lebanon … it’s consistent,” he said. “If Israel had their way, they would absolutely occupy the entire southern region of Lebanon, and they would do it tomorrow. They have no care for life. I’ve seen it with my own eyes,” Mohammed added. Israeli attacks continued on Monday. An Israeli air strike on the town of Abba killed two people and wounded five, Lebanon’s National News Agency (NNA) said. Warplanes renewed their raids on the town of Kfar Remman for the second time in less than an hour, NNA added. The Israeli military issued a new warning for southern Lebanon, telling residents of nine areas to flee before potential Israeli strikes. The areas are: Ar-Rihan (Jezzine), Jarjouaa, Kfar Reman, al-Numairiyah, Arab Salim, al-Jumayjimah, Machghara, Qlayaa (Western Bekaa) and Harouf. Israel has repeatedly said that it is only targeting Hezbollah infrastructure, which is primarily in the south of Lebanon. But last week, Israel also bombed Beirut’s southern suburbs for the first time since the ceasefire began. What have Hezbollah attacked? The Lebanese armed group has continued striking Israeli forces. Early on Monday, Hezbollah said it carried out 24 attacks targeting Israeli army positions, soldiers and military vehicles in southern Lebanon over the past 24 hours. Targets included Israeli troop gatherings, Merkava tanks, bulldozers, military equipment and newly established command centres in several border areas, including Khiam, Deir Seryan, Tayr Harfa, Bayyada, Rashaf and Naqoura. Operations involved explosive drones, rocket barrages, artillery shelling and guided missiles, with Hezbollah claiming “confirmed hits” in several attacks. The Israeli military said it had intercepted “a suspicious aerial target” in southern Lebanon in an apparent reference to a drone launched by Hezbollah. Advertisement The Jerusalem Post said the Israeli military is struggling to respond to First Person View (FPV) drones launched by Hezbollah. The newspaper said Hezbollah is using fibre optic threads to guide the drones and evade Israeli wireless jamming devices. The Jerusalem Post noted that Hezbollah had released video of an FPV drone striking an Iron Dome battery on the northern border on Sunday. During its visit to southern Lebanon last week, senior Israeli officials “outlined several new pilot programmes to better identify and shoot down FPVs”, but added that the “military is still trying to catch up in real time”. On Monday, Hezbollah said its fighters targeted an Israeli military position in a house in Baydar al-Faqani in the town of Taybeh, forcing a retreat. Fighters attacked the position three times until an Israeli helicopter intervened to evacuate the wounded, the group said. The Israeli army has not yet commented on the attack, but said three soldiers were injured by a booby-trap drone explosion in southern Lebanon. The army earlier announced that a soldier was killed by a drone launched by Hezbollah near the Lebanese border. So is the ceasefire just a pretence? In theory, the ceasefire between Israel and Hezbollah does exist, but both warring parties have escalated attacks since it began. The ceasefire followed a previous one, which had ostensibly been in effect since November 27, 2024. Since then, the United Nations counted more than 10,000 Israeli ceasefire violations and hundreds of Lebanese deaths. “I don’t think the pretence of a truce was ever actually there, but I think Israel can continue [attacks] just as it can sign a peace agreement,” Israeli analyst Ori Goldberg told Al Jazeera. “Israel doesn’t really care and will do as it is told. So far, the IDF [Israeli army] wants a win and a chance to apply its might, but that can change in a heartbeat,” he said. Israel has repeatedly told