Analysts warn of dangerous escalation in tensions with Iran and rising US war spending

Insights

• Russia's invasion of Ukraine continues into its fourth year and strains Western military resources.
• Recent clashes involving Iran, Israel and the United States have raised fears of a wider regional war.
• A major US military campaign against Iran would raise legal and political questions about congressional authorization.
• Historians and strategists invoke the concept of strategic folly to urge clearer goals and credible off-ramps.
• Market analysts warn that wider conflict could disrupt energy routes and push oil prices higher.
• Experts caution that attacks on nuclear facilities or any use of nuclear weapons would have catastrophic global consequences.