Why attacks on Iran are triggering a global crisis from energy markets to geopolitics

US and Israeli strikes on Iran open a crisis affecting regional security and the global economy

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The bombing of Iran under the operation known as “Epic Fury” has sent shockwaves across the world, escalating tensions in the Middle East and creating serious uncertainty for the global economy, energy supplies and geopolitical stability.

Two weeks after the launch of the US-led military operation, backed by Israel, the Middle East continues to face deep and far-reaching consequences.

The stated objective of the campaign was to neutralize Iran’s nuclear program, destroy its ballistic missile capabilities and weaken the regime’s military capacity.

However, the reality on the ground appears far more complex.

  • The Iranian regime remains in power.
  • Attacks and counterattacks continue across multiple fronts.
  • Millions of civilians have been displaced from conflict zones.

Iran is a far more difficult state to destabilize than Iraq or Afghanistan. With a vast territory, a population of more than 90 million people, and a regime consolidated since the 1979 Islamic Revolution, the country possesses a deeply entrenched political and military structure.

Escalation Across the Region

The conflict has not remained confined within Iran’s borders.

Strikes and tensions have spread across several areas of the Middle East, including:

  • Iranian cities, including Tehran,
  • border regions,
  • volatile zones in southern Lebanon,
  • and strategic maritime corridors in the Persian Gulf.
  • The humanitarian crisis is worsening.

According to the United Nations:

around 3.2 million people have been displaced inside Iran, while hundreds of thousands of civilians have been forced to leave border regions across the wider area.

At the same time, Iran has responded with ballistic missile strikes, drone attacks and naval operations, targeting military positions and strategic infrastructure.

An Asymmetric War That Could Drag On

Despite the overwhelming technological and military superiority of the United States and Israel, Iran is relying on what analysts describe as asymmetric warfare strategies.

These include:

  • low-cost but effective drones,
  • unmanned maritime vehicles,
  • attacks on oil tankers and key shipping lanes.

Such tactics are far harder to detect and prevent, potentially prolonging the conflict for an extended period.

Allies React and Geopolitical Dilemmas Emerge

The strikes have also created unease among US allies.

Countries in the Persian Gulf, including Saudi Arabia and the United Arab Emirates, view Iran as a strategic rival, yet they have traditionally preferred regional stability and diplomatic negotiations over open conflict.

Some had hoped for a renewed nuclear agreement mediated by Oman, only hours before the bombing began.

Globally, major powers are now facing complex strategic dilemmas.

China is confronting higher energy costs as one of the world’s largest energy importers.

Russia could benefit from rising oil prices.

Europe and the United Kingdom face growing political and economic pressure to respond to the crisis.

What Could Happen Next

Analysts warn that the conflict may enter a prolonged and unstable phase.

Three main scenarios are being discussed in diplomatic circles:

A broader regional escalation involving additional actors.

A prolonged conflict marked by sporadic attacks, particularly at sea and on energy infrastructure.

A return to international negotiations if economic and humanitarian pressures intensify.

Regardless of the outcome, the current crisis demonstrates once again that the Middle East remains one of the most fragile regions in the international system, and that any major conflict there can have immediate global consequences.

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