#Iran

The European Union’s plan to ban refined products made from Russian oil comes at the same time the war between Israel and Iran threatens to send global crude prices soaring—and nowhere do these two storylines intersect more dangerously than in Moscow’s budget.

Russia has begun fielding a newly upgraded version of its Geran-2 suicide drone—based on the Iranian Shahed-136 design—featuring artificial intelligence and a range of advanced electronic components.

A chokepoint for nearly 20% of the world’s oil and a vital LNG lifeline, the Strait of Hormuz is once again at the heart of geopolitical tensions. Iran’s threat to block it can lead to rising oil prices and destabilize global trade.