This is the first part of a two-part article which considers the US-Israeli attack on Palestine in general and the Gaza Strip in particular in a world-historical and regional context. In contrast to a range of theories which resort to liberal international relations theory, economism, or methodological nationalism when theorizing accumulation in general or Arab region accumulation in particular, the article argues that the Arab-Iranian region is under a regime of US-imposed de-development which seeks to dismantle strategic obstacles in the region through war and sanctions. The article argues this process encountered an obstacle amidst Iranian-linked regional militia and standing armies, and that these forces need to be understood by revisiting thinking about the role of political sovereignty in emancipatory transitions.