The Iran War and the Midterms
October 23, 2026
Analysis: Hosted by James M. Lindsay with former NSC Iran directors Cole Bucy and Nate Swanson, this episode exposes the structural limits of US military and economic coercion following Operation Epic Fury. While Washington’s naval blockade and Iran’s counter-closure of the Strait of Hormuz have spiked global diesel and insurance costs and strained US military readiness across PACOM and EUCOM, Beijing continues to purchase Iranian oil and maintain commercial air links via Chinese banks. This dynamic underscores the erosion of unilateral US sanctions enforcement and highlights how multipolar economic alignments allow regional adversaries to withstand American “maximum pressure” campaigns.