A quick end to the war in Iran is unlikely, and Tehran’s hand is strong despite heavy losses, analysts said.
Initially, most observers expected a short, sharp operation, Bloomberg’s senior markets editor argued: US President Donald Trump was elected on an anti-interventionist platform and feared price rises ahead of the midterm elections. But Iran’s stiff resistance means Trump now needs a clear win to save face before taking an off-ramp.
He faces a stark decision, the head of a prominent Washington think tank agreed: Stopping now leaves a “hostile and wounded, but not destroyed” Iranian regime able to block the Strait of Hormuz, whereas reopening the waterway could be long and costly.