Operation Economic Fury and the battle for a multipolar world
via NewsDay Zimbabwe7 min read
The United States has launched "Operation Economic Fury," an escalation of its economic campaign against Iran, marked by a new executive order signed by President Donald Trump on February 6, 2026. This order imposes a 25% ad valorem tariff on imports from any nation that directly or indirectly acquires goods or services from Iran. This measure, which differs from traditional sanctions by threatening to cut entire countries off from the U.S. market, is seen as a test of the emerging multipolar world order. The broad definition of "indirect" trade aims to target shadow fleets and transshipment hubs, increasing compliance risks across global supply chains. This new tariff regime is the third pillar of the U.S. maximum pressure strategy, following comprehensive sectoral sanctions and an expanded SDN List targeting oil supply-chain actors. The article suggests this framework could be applied against other nations like Russia, China, or African states maintaining ties with Iran. While the U.S. market remains the world's largest, the failure of financial warfare against Russia, which stabilized its economy despite sanctions, indicates that the dollar's dominance is not unassailable. The article discusses countermeasures such as Russia, China, and India boycotting sanctions and shifting trade with Iran to alternative payment systems like CIPS and SPFS, and using commodity-backed settlement systems. For African nations, the U.S. tariff regime presents a choice between trading with Ira
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This summary was AI-generated from a story originally published by NewsDay Zimbabwe.
Must ReadA recent analysis suggests that the US's approach to Iran is not a genuine de-escalation but a tactical pause aimed at China. The confrontation, which has already led to rising fuel prices, supply chain disruptions, and inflation across East and West Africa, is seen as a strategy to control strategic energy chokepoints, install a compliant regime in Tehran, and demonstrate military dominance. The article argues that Iran is a chokepoint, and China is the ultimate target, given that nearly half of China's energy imports pass through the Strait of Hormuz. This strategy extends to other regions, including Ukraine, Venezuela, and the Strait of Malacca, all of which are critical to China's energy supply. For Africa, rich in critical minerals like cobalt, lithium, platinum group metals, and rare earth elements, the Iran crisis is viewed as a precursor to a larger struggle for resources. The US is reportedly accelerating its efforts to secure these minerals, with Africa as a prime target, often through "peace deals" that grant access to mining rights. The article urges African nations to reject the "resource-for-security trap," strengthen Pan-African unity, and forge strategic partnerships that respect sovereignty.
Must ReadEcoCash, a leading fintech platform, has launched an all-in-one "super app" that integrates payments, chat, and lifestyle services. Developed by Sasai Fintech, a unit of Cassava Technologies, the app aims to deepen digital financial inclusion by offering a fully integrated digital and social ecosystem. EcoCash stated that the platform addresses the increasing demand for seamless, mobile-first solutions that combine communication and transactions. Key features include social payments, allowing users to send and receive money within chat conversations, and automated bill-splitting. The app also consolidates merchant payments, bill settlements, and airtime and data purchases, designed to reduce transaction time and data costs. Additionally, the platform supports content monetization, enabling users to create and earn income, targeting digital creators and small businesses in Zimbabwe. This super app is part of a broader innovation pipeline that will include stablecoin-based remittances and other digital financial services, supported by investments in artificial intelligence.
Zimbabwe marked its 46th independence anniversary on April 18, 2026, reflecting on the journey since gaining political independence from British colonial rule in 1980. While the nation achieved self-governance, the article highlights that political independence did not immediately translate to total independence, particularly economically. The Lancaster House Agreement, for instance, preserved a colonial economic structure, maintaining external control over economic power and land resources. The land reform initiated in 2000 is presented as a crucial step to correct historical injustices and return land to indigenous people. This reform led to a significant increase in indigenous smallholder tobacco farmers, from approximately 2,000 to over 140,000, and a rise in tobacco output and export earnings. Despite short-term challenges like production fluctuations and human capital outflow, the government remained committed to a people-centered approach. Efforts have also been made to indigenize the mining sector, with small-scale gold production now contributing over 60% of the country's total gold output. The upcoming amendment to the Mines and Minerals Act aims to further prioritize community benefit-sharing and shift towards deep processing of resources. In education, the 5.0 Education Framework and Heritage Education seek to align learning with national development needs and reconnect younger generations with their history and culture. Zimbabwe has also refined legislations like
Must ReadThe Global South, particularly Africa, faces structural vulnerability due to the weaponization of the US dollar and SWIFT system, as seen in cases like Russia, Iran, and Zimbabwe. To achieve strategic autonomy, Africa needs to integrate national banking systems into China’s Cross-Border Interbank Payment System CIPS, diversify foreign reserves with US dollars, yuan, gold, and regional currencies, and establish mutual visa-free travel with China to strengthen economic and people-to-people ties. CIPS integration is crucial for breaking financial dominance, despite obstacles such as most African banks processing US dollar transactions through American correspondent banks and underrepresentation in CIPS. Implementation can occur in phases, starting with bilateral currency swap agreements with the People’s Bank of China, followed by commercial banks joining CIPS, staff training, and technical upgrades. A multi-currency and gold reserve system is vital for defense against unilateral sanctions, with a proposed allocation of 40% to US dollar assets, 30% to yuan, 20% to physical gold, and 10% to other currencies. China's zero-tariff policy for African goods, effective May 1, 2026, should be expanded with simplified rules of origin and special trade desks. Mutual visa-free travel, currently asymmetrical, can be phased in, starting with diplomatic and official passports, then business travelers, and finally tourist groups, with security measures like police clearance and an electronic t