The controversial  relationship between USA and Iran dates all the way back to 1953. That’s when the Iranians believe America truly picked this fight. For, in 1953, the US staged a coup d’etat in Iran to take down a popular, secular and nationalist prime minister, only to put an indulgent monarch, known as the Shah, in charge.It’s that American coup that led to the 1979 revolution that placed an ayatollah on the throne and the rule of the mullahs still in power today. The very same mullahs that the now-dead General Soleimani served.

When the Iranians revolted against the Shah, they overran the US Embassy in Tehran, taking dozens of American diplomats and Marines hostage, parading them on international television, as seen in the 2012 Hollywood movie “Argo”.That is when this war began.

Since 1995, the United States has had an embargo on trade with Iran. In 2015 the United States led successful negotiations for a nuclear deal (the Joint Comprehensive Plan of Action) intended to dismantle Iran’s nuclear weapons capabilities, and when Iran complied in 2016, sanctions on Iran were lifted. The Trump administration withdrew from the nuclear deal and re-imposed the sanctions in 2018. Since this time, relations between the United States and Iran have worsened, and the two countries came close to conflict during the 2019–20 Persian Gulf crisis.

PERSIAN GULF CRISIS :

The 2019–20 Persian Gulf crisis, also known as the Iranian–American confrontation and the Crisis in the Gulf, is an intensification of military tensions between the Islamic Republic of Iran and the United States of America in the Persian Gulf region. The U.S. began a build up of its military presence in the region to deter an alleged planned campaign by Iran and its non-state allies to attack American forces and interests in the Persian Gulf and Iraq. This followed a rise in political tensions between the two countries during the Trump administration, which included the withdrawal of the U.S. from the Joint Comprehensive Plan of Action (JCPOA), the imposition of new sanctions against Iran, and the designation of the Islamic Revolutionary Guard Corps (IRGC) as a terrorist organization. In response, Iran designated the United States Central Command as a Terrorist organization.

Several merchant ships in the Persian Gulf were damaged in two incidents in May and June 2019. Western nations blamed Iran, while Iran denied involvement. In June 2019, Iran shot down an American RQ-4A surveillance drone flying over the Strait of Hormuz, sharply increasing tensions and nearly resulting in an armed confrontation. In July 2019, an Iranian oil tanker was seized by Britain in the Strait of Gibraltar on the grounds that it was shipping oil to Syria in violation of European Union sanctions. Iran later captured a British oil tanker and its crew members in the Persian Gulf.Both Iran and the UK later released the ships. Meanwhile, the U.S. created the multinational International Maritime Security Construct (IMSC), which sought to increase “overall surveillance and security in key waterways in the Middle East”, according to U.S. Deputy Secretary of Defense Michael Mulroy.

The U.S. and Iran nearly entered into an open conflict on 8 January 2020 when the IRGC launched missile attacks against two Iraqi military bases housing U.S. soldiers in retaliation for the killing of Soleimani, a rare direct Iran–U.S. confrontation and the closest to the brink of war between the two nations in decades. Upon confirmation of no U.S. casualties, the Trump administration curtailed tensions by temporarily ruling out a direct military response but announcing new sanctions.During the crisis, Ukraine International Airlines Flight  was shot down after departing from Tehran Imam Khomeini International Airport, and Western officials said the plane had been brought down by an Iranian SA-15 surface-to-air missile.On 11 January 2020, the Iranian military admitted in a statement that they had mistakenly shot down the plane due to human error.

 EFFECTS :
The advent of war between USA and Iran , continuous posing of sanctions on Iran by US  and threatenings of US to any other country that supports Iran etc… have not only resulted in political crisis , recession and economic slowdown in Iran but also affected the world economic status. The following are the global situations caused due to the USA- IRAN war. They are :
1) The incident will prompt investors to hold low-risk assets and cause price of gold to rise.
2)The conflict between Iran and the United States will lead to fluctuations in currency and stock markets and an immediate rise in the price of oil and gold.
3)This war has also led to onset of protest in Iraq , Lebanon etc… regrading over interference of Iran in their domestic and political affairs, corruption , food crisis etc… and is  also weakening the power of Iran over Syria , Yemen etc…