No dust, no dollars: Slogans and strategy in the Iran standoff

US 27-05-2026 | 08:39

No dust, no dollars: Slogans and strategy in the Iran standoff

Behind the rhetoric of “no dust, no dollars,” the real struggle over leverage, timing, and concessions between Washington and Tehran remains far more difficult to resolve.

No dust, no dollars: Slogans and strategy in the Iran standoff
US President Donald Trump in his presidential motorcade, May 2026. (AFP)
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Short, easy to remember slogans paved his way to the presidency. Whether they will help conceal his potential diplomatic failure in a sensitive file remains an open question. The latest of these slogans was “No dust, no dollars.”

 

When he tried to reassure journalists that there was no truth to reports that Washington was moving toward a weak agreement with Iran, a senior official in US President Donald Trump’s administration used this phrase. It quickly gained the expected traction. The official wanted to stress that no frozen funds would be released unless Tehran handed over its “nuclear dust,” meaning the enriched uranium that the Iranians could use to manufacture a bomb. The reason Trump described uranium as “nuclear dust” remains unclear, but he may have meant uranium that has been damaged and mixed with rubble.

 

As for slogans, the problem with them is that they simplify reality to the point where it becomes difficult to diagnose it accurately. And even if they reflect reality precisely, they remain difficult to implement. One can consider the circumstances that led to the creation of this slogan.

 

 

 

Trump and Iran: the difficult balance

 

It appears that Trump reached a balance based on the idea that both sides could emerge with a mutually acceptable double victory. The United States would lift sanctions on Iran in exchange for Iran lifting its restrictions on the Strait of Hormuz. As a result, both the American and Iranian economies would gain some breathing room. However, if the Iranian economy recovers, why would Tehran agree to surrender the uranium? The same US official said that reopening the strait gives the United States a greater gain than what Iran might obtain, roughly half a billion dollars daily. He explained that the blockade “gave us some time to accelerate additional economic leverage points.”

 

President Donald Trump. (AP)
President Donald Trump. (AP)

 

But he did not clarify what those gains for the United States actually were. In fact, he added that Iranian officials tend to act slowly in such situations, and they are slowing down even more now while trying to protect Supreme Leader Ali Khamenei’s son Mojtaba Khamenei from security infiltration. This suggests they would move even more slowly after achieving partial economic recovery. The United States could reimpose the blockade if Iran fails to honor its commitments or refuses to hand over the uranium, but the effects of such a blockade would take time to materialize, meaning both sides would end up back at square one.

 

 

Trump loses leverage and Iran knows it

 

Another question is that if reinstating the blockade is possible and effective, why did Trump not use this tool to lift pressure on the Strait of Hormuz while at the same time forcing Iran to hand over the “dust”? The answer is simple: Trump is not willing to wait. This may be for personal reasons, or even due to pressure from some officials in his administration, such as Treasury Secretary Scott Bessent, who has recently warned that the longer the Strait remains closed, the worse the crisis becomes.

 

But the outcome is the same. If Trump is not prepared to wait now, when the momentum of the blockade is at or near its peak, he will not be willing to wait in the future when Iran has partially strengthened its financial reserves. For this reason, and as of Tuesday morning, Iran was demanding “management” of the Strait of Hormuz and was not accepting the restoration of full freedom of navigation, at least according to Israel’s Channel 12.

 

Image of former Iranian leader Ali Khamenei. (AP)
Image of former Iranian leader Ali Khamenei. (AP)

 

If Iran is refusing or resisting reopening the Strait while under tight sanctions, how would it ever agree to give up handing over uranium, let alone what it considers its “right to enrichment,” after the pressure is eased?

 

Perhaps the core equation is: “No blockade, no dust.”