IRAN CRISIS ENTERS A DANGEROUS NEW PHASE
What happened?
After Joint U.S.-Israeli strikes on Tehran, Tabriz, and Isfahan Ali Khamenei was killed in the strikes, according to Israeli and U.S. accounts, marking the most consequential leadership decapitation in the history of the Islamic Republic. Defense Minister Amir Nasirzadeh and IRGC Commander Mohammad Pakpour…
What does it mean?
The current escalation marks a qualitative shift toward overt interstate confrontation, moving the Iran file beyond sanctions and diplomacy into direct, high-risk military exchange. Nuclear uncertainty remains a central driver of risk, as unresolved questions over enrichment and stockpiles increase the likelihood of further…
The consequences
The Iran crisis has entered a more dangerous and less predictable phase, with the confrontation shifting from proxy dynamics to direct military exchange tied to the unresolved nuclear file. Inside Iran, the escalation is deepening public fear and economic disruption, worsening existing currency weakness,…