Down but not out: Iran's regime shows it can still affect the global economy amid U.S. bombardment
By Dan De Luce
Published on March 12, 2026.
Iran's regime has shown it can still affect the global economy despite sustained U.S. and Israeli airstrikes, despite these efforts. Despite these efforts, Iran's control over the crucial Strait of Hormuz waterway has been limited. The U.K. and Israel have not managed to secure this vital waterway, with commercial ships coming under fire from drones. The Iranian regime's resilience poses a challenge for the Trump administration as it struggles to articulate an endgame to the conflict. The rising retail gas prices in the US are a political risk for the White House, with rising gas prices potentially becoming an "unsustainable" political five-alarm fire.
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