Iran-US War: Systemic Impact Assessment
On 28 February 2026, joint US–Israeli airstrikes on Iran under “Operation Lion’s Roar” initiated active military operations across Iranian territory, prompting airspace closures across Iran, Israel, and Iraq and raising the risk of escalation across the Gulf region. This situation report examines the potential supply chain implications of the crisis, including exposure of the Strait of Hormuz energy chokepoint, disruptions to key air cargo corridors, and risks to global energy, shipping, and industrial supply chains.