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How the US-Israeli war is collapsing the sanctions regime on Iran

Circumvention mechanisms already exist and the conflict is encouraging more entities to work with them.

People walk in Tehran Bazaar, amid a ceasefire between U.S. and Iran, in Tehran, Iran, April 21, 2026. Majid Asgaripour/WANA (West Asia News Agency) via REUTERS ATTENTION EDITORS - THIS PICTURE WAS PROVIDED BY A THIRD PARTY

What would be the impact of a US attack on Iran?

Whatever post-attack scenario unfolds in Iran – regime consolidation or turmoil – the region would suffer.

Iranian missiles are displayed in a park in Tehran, Iran, January 31, 2026. Majid Asgaripour/WANA (West Asia News Agency) via REUTERS ATTENTION EDITORS - THIS PICTURE WAS PROVIDED BY A THIRD PARTY