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Who will blink? Iran war alters oil, arms, allies in Gulf region

A police officer stands guard in front of a banner with portraits of the late Iranian revolutionary founder Ayatollah Khomeini, left, and late Supreme Leader Ayatollah Ali Khamenei in a state-organised rally celebrating the birthday of Imam Reza, the 8th Shiite Muslims' Imam, and supporting the supreme leader, in Tehran, Iran, Wednesday, April 29, 2026. (AP Photo/Vahid Salemi)
- The Washington Times

The Iran war is fundamentally reshaping the Persian Gulf region with near-term shocks to Tehran’s oil-based economy under a crippling U.S. naval blockade and the long-term impact of the United Arab Emirates leaving OPEC.

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