NAIROBI, Kenya- Iran has declared it is prepared to wage a long attritional conflict, dismissing expectations of a swift end and warning that continued fighting could have devastating effects on the global economy.
Iranian officials say only significant external pressure and economic pain could halt hostilities.
As the war enters its third week, tensions have escalated with the United States and Israel.
US President Donald Trump, while claiming the conflict might conclude soon, has also threatened further military action against Iranian strategic assets such as Kharg Island, a key oil infrastructure hub.
In response to disruptions in Middle Eastern energy corridors, particularly the near shutdown of shipping through the Strait of Hormuz, the International Energy Agency (IEA) announced coordinated releases from global emergency oil reserves to ease market strains caused by the conflict.
Despite international diplomatic efforts, there is currently no ceasefire agreement in sight. The conflict has led to surging fuel prices, widespread casualties, and displacement across the region, with continued exchanges of military strikes and strategic positioning from all sides.
Background: What’s Driving the Conflict
The 2026 Iran war ignited after a large‑scale military offensive by Israel Defense Forces and U.S. partners against targets in Iran, triggering swift retaliation from Tehran’s forces.
Major trade routes and energy chokepoints have since been affected, with oil markets seeing significant disruption.
Iran has also carried out extensive missile and drone strikes on neighboring Gulf states including the United Arab Emirates, causing civilian casualties and infrastructure damage.
Human and Geopolitical Impact
- Global economy: Oil prices have surged past key psychological levels, prompting emergency strategic reserve releases.
- Maritime trade: Shipping through the Strait of Hormuz has been severely restricted, affecting international energy supply.
- Regional security: Military engagements have spread beyond Iran’s borders into the Gulf.
What Iran Is Saying
Iranian leaders have emphasized that they are prepared for a prolonged war effort and are willing to absorb and retaliate against ongoing attacks.
Tehran’s stance suggests that only severe economic strain could force reconsideration of its posture.
