Over 100 days on, the conflict has reached a costly stalemate with neither side making meaningful gains
Despite heavy losses, Iran has refused to abandon its nuclear programme or regional alliances
The war has spread across West Asia, damaging infrastructure and destabilising key US allies
Disruption in the Strait of Hormuz has pushed energy prices higher and rattled global markets
Costlier fuel and fertilisers are hurting businesses, jobs and supply chains across countries
Failed diplomacy and rigid positions have locked both sides into an endless cycle of retaliation