The US and Israeli military actions against Iran in February 2026 have escalated into a potential global conflict, adversely affecting the world economy. With the Strait of Hormuz at the center, energy prices have surged due to disrupted oil and gas supplies, leading to inflation and economic stagnation worldwide, particularly impacting Europe, Asia, and vulnerable emerging markets.
Thomas Friedman discusses U.S. strikes in Iran on Morning Joe. Canadian Prime Minister Mark Carney speaks at the Lowy Institute about global tensions and strategic alliances with countries like India and Australia, emphasizing diplomacy. David Brooks and Jonathan Capehart analyze the U.S. political landscape, focusing on the economic uncertainty amid recent military actions.
When this war ends, which I hope will be soon, one of the two countries—Iran or Israel—will have had to change its political, military, or security structure substantially. What is at stake is not a minor adjustment, but the very survival of the Iranian regime or, at the extreme, the strategic viability of Israel in a regional environment that has become reactive.