Photo: depositphotos
The war involving the United States, Israel, and Iran has already drawn in at least 12 countries and is creating growing risks for the global economy, according to The Wall Street Journal.
Now in its second week, the conflict has spread across the Middle East, affecting energy markets, global trade routes, and political stability in several regions. Despite heavy fighting, neither side has achieved its strategic goals, and both claim they can outlast the other in a prolonged war of attrition.
One potential beneficiary of a long conflict could be Russia, which may profit from sharply rising oil and natural gas prices. At the same time, Western economies, Gulf states, and even China could face increasing economic pressure.
According to the report, U.S. President Donald Trump initially hoped that the February 28 strike targeting Iran’s leadership—including the killing of Supreme Leader Ali Khamenei—would either collapse the Iranian regime or lead to a political shift similar to the situation in Venezuela.
However, neither scenario has occurred. Power in Iran was taken by Khamenei’s son, Mojtaba Khamenei, who vowed retaliation, while no internal uprising against the Islamic Republic has emerged.
Despite large-scale airstrikes, Iran has retained the ability to launch ballistic missiles and drones at U.S. bases in the Middle East, at Israel, and at major cities of U.S. allies in the Persian Gulf.
Iran has also blocked the strategic Strait of Hormuz, through which about one-fifth of global oil and liquefied natural gas supplies previously passed. Attacks targeting airports, ports, hotels, energy infrastructure, and data centers in countries such as the United Arab Emirates, Bahrain, Kuwait, Qatar, and Saudi Arabia were intended to pressure regional leaders to push Washington to end the war.
So far, Gulf states have shown resilience, intercepting most Iranian missiles and drones and warning of possible retaliation.
Experts say a prolonged war could strain Western military resources, divert attention from the war in Ukraine, and increase global dependence on Russian energy exports. Meanwhile, analysts believe Iran’s strategy may be to prolong the conflict to demonstrate its economic impact on the U.S. and its allies.
Analysts warn that even if fighting pauses, the outcome could be an unstable balance, with Tehran potentially using any lull in hostilities to pursue nuclear weapons.
