No end to war in sight after one month as Iran squeezes global economy
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By Alexander Smith
Published on March 28, 2026.
The Iran crisis is an epoch-defining event, similar to the fall of the Berlin Wall or 9/11, according to Peter Frankopan, a professor of global history at the University of Oxford. The world is now facing price increases and shortages for energy and food if the conflict ends tomorrow. The U.S. and Israel's attack on Iran on Feb. 28 surprised allies and has caused public backlash at home. The conflict has also damaged America's standing among its European allies, who are unconvinced by the US's rationale. Despite claims that negotiations are ongoing, Iran has countered with demands of a more stringent version of the Iran nuclear deal.
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