PodcastThe President’s InboxOctober 22, 2026
The Iran War and the Midterms
The U.S.-Iran war remains a stalemate with no good escalation options, and China's noncompliance undercuts the sanctions siege regardless of midterm outcomes.
- Strategic stalemate: Cole Bucy says the U.S. has been stuck since early in the war with three options—escalate, negotiate, or hold the line—none clearly viable.
- Blockade's hidden costs: The U.S. naval blockade curbs Iran's oil exports but requires costly resources; Iran launches rockets and tankers pay sharply higher insurance premiums to move partial cargo.
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