The Iran war is reshaping the global economy and international relations in real time. As the conflict escalates, oil prices are surging and global markets are under pressure. While much of the world faces economic strain, Russia could benefit a relief in oil sanctions and a bigger seat at the table, especially as uncertainty grows around Donald Trump’s sanctions policy. At the same time, Ukraine and Volodymyr Zelenskyy may be finding new diplomatic openings through providing support to America. Meanwhile Gulf states like the United Arab Emirates fear the war is damaging their stability and global standing, while Lebanon risks being drawn further into the conflict through Hezbollah.
Tom Tugendhat and James Glancy discuss who is really benefiting from the conflict. Has easing pressure on Russia shifted the balance in Ukraine, or is Volodymyr Zelenskyy gaining ground diplomatically with Gulf states? With the U.S. distracted, does this present a rare opportunity for China to act on Taiwan…
