Emergency Statement by the Editorial Board of theSocialist.lk and the Socialist Lead of Sri Lanka and South Asia (SLLA)
President Donald Trump speaks with reporters in the James Brady Press Briefing Room at the White House, Monday, April 6, 2026, in Washington. [AP Photo/Mark Schiefelbein]
Today, 7 April 2026, US President Donald Trump posted on Truth Social: “A whole civilization will die tonight, never to be brought back again. I don’t want that to happen, but it probably will.”
This is not political bluster. This is the public declaration of genocidal intent by the head of state of the most heavily armed military power in history — a power that possesses thousands of nuclear weapons and has already been bombing Iran for forty days.
As the World Socialist Web Site stated today in its emergency perspective: “Every word Trump said implicates the government of the United States in a crime of Hitlerian proportions. He says openly what the Nazi leaders discussed behind closed doors.” Trump has already threatened to destroy every power plant, every bridge, every desalination facility — the entire infrastructure of civilised life for 93 million people. He has declared this will be accomplished “over a period of four hours.” He was asked by a reporter whether this constitutes war crimes. His answer: “No, not at all.”
Iran is the heir to one of the oldest and most profound civilisations in human history. Thousands of its civilians — including 168 children killed in a US missile strike on the Shajareh Tayyebeh girls’ school on the first day of the war — have already been slaughtered. Hospitals, universities, residential districts and schools have been systematically bombed. The logic of escalation, as the WSWS has warned, is inexorable: from intensified bombing to ground invasion, to the occupation of Iranian cities, and ultimately — in the face of mounting US casualties and military failure — to the resort to nuclear weapons.
This is not a hypothetical. This is the trajectory of a war that has been underway for forty days, escalating each week, with no serious force within the capitalist political system placing any brake upon it.
The Democratic Party of the United States — which funded the war with its own vote for the $839 billion defence budget — now calls Trump a “madman” and “unhinged.” But not a single Democrat has proposed concrete action to halt the war. They are complicit. They are terrified that any genuine mass mobilisation against the war would not stop at the war — it would raise the entire question of the distribution of wealth, the power of the financial oligarchy, and the social order both parties exist to defend.
The parliaments of Europe, the governments of Australia, Canada and the United Kingdom — all are implicated. Australia has secretly deployed SAS commandos, Wedgetail battle-management aircraft and its Pine Gap intelligence station to the war. Britain hosts the Hormuz summit. Germany rearming. The United Nations Security Council paralysed. International law demolished.
The capitalist state system has proved, beyond any doubt, that it cannot stop this war. Only the international working class can.
theSocialist.lk and the Socialist Lead of Sri Lank and South Asia (SLLA) aligned with the International Committee of the Fourth International, calls on workers, youth and all those in opposition to this criminal war:
Strike: Workers in the United States, Britain, Australia, Germany and across the world must take immediate industrial action — in ports, airports, logistics hubs, defence manufacturing plants and transport networks — to deny the war machine the means to function. The AFL-CIO, the UAW, the TUC and every major trade union federation has maintained criminal silence. Workers must act through their rank-and-file committees, independently of the bureaucracy, to halt the flow of arms, fuel and supplies to this war.
Occupy: Workers and youth must occupy workplaces, campuses and public spaces — not to petition governments that have proven themselves servants of the war, but to assert the independent political power of the working class. The eight million who marched on 28 March in the United States alone must be transformed from a protest movement into an organised political force with a program, a strategy and a leadership.
Organise internationally: The war on Iran is not a national question. It is a world question. Workers in Sri Lanka, workers in South Korea, workers in Japan — whose governments are cutting separate deals with Iran to secure oil supplies even as the bombs fall — must join this struggle. The IRGC’s warning that it will “deprive the US and its allies of the region’s oil and gas for years” is a measure of how close the world stands to an economic and military catastrophe of civilisational proportions. The only answer is international working-class solidarity, organised through the International Workers Alliance of Rank-and-File Committees (IWA-RFC).
Trump’s threat today must be understood for what it is: a declaration of war not merely against Iran, but against all the accumulated gains of human civilisation — against international law, against the prohibition on targeting civilian infrastructure, against the most fundamental norms of humanity that were codified after the horrors of World War II and the Nazi Holocaust. As David North stated at the Nuremberg Palace of Justice: this war meets every legal and political criterion established at the Nuremberg Trials for a “crime against peace” — the supreme international crime.
If today, 7 April 2026, becomes the date on which Iranian civilisation is destroyed, it will also be the date that the capitalist world order signs its own death warrant in the eyes of humanity. It must instead become the date on which the international working class rises to say: Not in our name. Not with our labour. Not with our silence.
The Socialist Equality Party (SEP) sections of the ICFI are organising this resistance. We call on all workers, youth and socialist-minded people in Sri Lanka, South Asia and internationally to join them.
Demand the immediate, unconditional cessation of the US-Israeli war on Iran.
Demand the withdrawal of all imperialist forces from the Middle East.
Build rank-and-file committees. Strike. Organise. Fight for socialism.
Solidarity With the people of Iran, Palestine, Lebanon, Cuba — International Working Class Unity!
Hands Off Iran — Stop Imperialist War!
No More Genocide — Stop Trump’s War Machine!
Workers’ Power Against War and Austerity!
Ports Closed to War — Workers Unite!
Not One Penny for War — Fund Hospitals, Schools, Jobs!
Imperialist and Zionist Troops Out from the Middle East!
Stop the War Criminals — Nuremberg for Imperialist Aggression!
[20] World Socialist Web Site, ‘Podemos enters Spanish government: (8 January 2020) “On Tuesday, the Spanish Socialist Party (PSOE) of Prime Minister Pedro Sanchez officially formed a coalition government with the pseudo-left Podemos party, the Spanish ally of Greece’s pro-austerity Syriza (“Coalition of the Radical Left”).” <https://www.wsws.org/en/articles/2020/01/08/pode-j08.html>
This article was originally published on the World Socialist Web Site on 24 March 2024.
As the US war on Iran nears the completion of its first month and deepens by the day, its effects on the global economy are intensifying.
In the recent period central banks and governments have sought to overcome major economic storms by throwing money at the problems, amounting to trillions of dollars. This has led to an unprecedented growth of debt while at the same time lifting the wealth of the financial oligarchs to unprecedented heights.
But in the growing crisis set off by the war, that “solution” is not possible. As is being increasingly pointed out, central banks may be able to print money, but they cannot print molecules. Printing money will not miraculously end the lack of oil.
The rapidly worsening situation was underscored yesterday by the director of the International Energy Agency, Fatih Birol, in remarks to a conference in Canberra, Australia.
He said the impact of the crisis was worse than the combined effects of two oil shocks of the 1970s—that which flowed from the quadrupling of prices in 1973–74 and the turbulence which followed the Iranian revolution in 1979. Even if military action halted immediately, the market would not recover quickly, he said.
That assessment has also been made by energy analysts at Goldman Sachs who have significantly increased their forecasts of higher prices, warning they could even reach the record set in 2008 of $147 per barrel.
The shutdown of the Strait of Hormuz has also sent the price of liquified natural gas (LNG) soaring as supplies are increasingly constricted.
The Financial Times (FT) reported at the weekend that countries around the world are “facing a cliff edge” as the flow of LNG from the regions comes to an end when a “handful of tankers from the region reach their destinations.”
After that there will be nothing from the Gulf state of Qatar, the supplier of a fifth of the world’s LNG, which stopped exports shortly after the war began.
Countries throughout the Asian region are the most heavily impacted so far because of their reliance on oil and LNG which comes through the Strait. Only one LNG cargo ship from the Gulf is still expected to arrive in Asia.
Thailand has to import 90 percent of its crude, half of which comes via the Strait. Some 30 percent of its LNG comes from the Middle East.
The situation in Pakistan is even more severe. Some 99 percent of its LNG imports came from Qatar last year. It has not received any supplies since the third day of the war.
India, which at present is considered the world’s fastest growing major economy and the world’s fifth largest after Japan, is also being hit on both the supply and financial fronts. Half of its energy imports come from the Gulf states. There are already widespread shortages of gas used for cooking.
The Gulf region is not only the country’s largest trading partner. India’s international financial position is being impacted because of remittances sent home by workers amounting to more than $50 billion a year.
According to Priyanka Kishore of the research consultancy Asia Decoded, whose remarks were cited in the FT, the Indian currency, the rupee, “is among the most exposed EM [emerging market] currencies to the Iran war.”
“Also at risk is the sizable flow of remittances from the Middle East, which plays an important role in containing the current account deficit in the face of a widening trade gap.”
From the beginning of the war, the Indian central bank has been using its foreign exchange reserves to try to prevent a fall in the value of the rupee which has dropped against the US dollar and has been hitting record lows. The fear is that a collapse in the currency’s value will push up interest rates and hit the financial system.
In the words of analysts at one Mumbai-based financial services firm, an extended war will likely “trigger stress across all financial markets in India.” Before the war the governor of the Reserve Bank of India, Sanjay Malhotra, described the Indian economy as being in a “sweet spot,” with strong growth and low inflation. It now threatened to rapidly turn sour.
The war is not only causing disruption to oil and gas supplies, but a range of other commodities is also being hit. These include the supply of urea, a source of nitrogen-based fertilisers vital for agriculture around the world and sulphur also vital for the production of fertilisers.
There have been warnings that if the disruption caused by the war continues the situation will be much worse than 2022 in the wake of the Russian invasion of Ukraine.
Helium, a by-product of natural gas processing, for which Qatar provides around a third of the global supply, is also being impacted. It is a vital raw material in the production of computer chips.
In a comment this week FT columnist Tej Parikh pointed to the potential effect of the war on the artificial intelligence (AI) boom which for the past three years “has propped up global trade and investment and pushed stock markets from the US to Asia to record highs.”
“Investors have committed trillions of dollars to the technology, one of the most power-hungry inventions ever, on the assumption of ample energy supplies and a slick chip production line that can cross more than 70 borders before reaching the final consumer. But the Iran war is exposing the fragilities in the AI supply chain.”
Both South Korea and Taiwan, which are centres of global chip production, rely heavily on oil to supply energy, most of which comes through the Strait of Hormuz.
Parikh laid out a scenario in which apart from the effect of higher petrol and diesel prices, which are already raising all transport costs, the continuation of the war had the potential to hit the AI boom and set off financial turbulence in the US.
“If the conflict lingers,” he wrote, “chip prices will steepen as manufacturers ration and compete for tighter supplies. Eventually, production would seize up. In the US, elevated energy costs would make present and future data centres less viable. High tech valuations will unwind, and debt borrowed against AI assets would be at risk.”
No one can predict the exact course of economic and financial events arising from the war and its continuation but after more than three weeks the direction is clear.
As the well-known economic and financial analyst Mohamed El-Erian noted in an X post: “Consensus is shifting, and rightly so. This third week of the war has fuelled a shift from a short-term energy disruption to long-term structural damage. With that, the broader fallout… poses an increasing threat to global economic wellbeing and financial stability.”
Signs of the latter are emerging most sharply in the UK where there was what has been described as a “rout” in the market for 10-year governments, or gilts as they are known, has developed over the past several days.
The yield or interest rate on the 10-year gilt rose yesterday by 0.11 percentage points—a significant move where “normal” movements are fraction of that—to 5.1 percent, the highest level since 2008. One of the main reasons for the rise is that the previous expectation the Bank of England would cut interest rates has been shattered and replaced by the belief that, with inflation on the rise, the central bank will lift them, possibly four times this year.
This shift has the potential for significant financial turbulence as investors and speculators who have made massive bets, with large amounts of borrowed money, are caught out and are forced to exit their positions by selling financial assets.
