Global Outlook

  Tehran’s Hostility Is Paralyzing Global Commerce Shipping through the Strait of Hormuz has nearly collapsed since Iran began targeting vessels, a reckless escalation that has pushed the global energy market into unprecedented volatility. President Trump’s warning that the U.S. will “completely obliterate” Iran’s energy infrastructure is not bluster—it reflects the geopolitical stakes of a maritime artery responsible for nearly a fifth of global oil flows. Iran’s leaders know this, yet continue to weaponize the waterway in a bid to project power they simply do not possess. A New Political Reality Iran Refuses to Acknowledge Trump openly referenced “a new, more reasonable regime” Washington is negotiating with—an unmistakable signal that the U.S. sees Iran’s current leadership as incapable of good-faith engagement. Tehran’s rejection of the U.S. 15-point plan as “unreasonable” underscores this disconnect. Instead of constructive diplomacy, Iran prefers denial: denying direct tal...