How Iran's Military Moves Could Trigger a Global Economic Crisis: 8 Key Insights

Park Jin-hyung | 2026.03.13


「Featuring: Seong Il-gwang, Professor, Sogang University Euromena Research Institute · Kim Jae-cheon, Professor, Sogang University Graduate School of International Studies」

Iran’s newly installed supreme leader, Moztaba, has announced a hardline response against the United States and Israel.

President Trump responded with stark rhetoric, further elevating tensions between the parties.

We discuss the implications with Seong Il-gwang of Sogang University’s Euromena Research Institute and Kim Jae-cheon of Sogang University’s Graduate School of International Studies.

「Question 1」 Iran’s supreme leader, Moztaba, issued a hardline statement, and President Trump declared, “We are completely destroying Iran.” Earlier, Trump signaled a possible early end to the conflict, calling it a self-declared victory. Despite that, is the fighting spreading rather than winding down?

「Question 2」 President Trump warned Iran that the U.S. has “unmatched firepower, unlimited ammunition and plenty of time,” and told Tehran to “watch what happens today.” How do you assess Trump’s likely next moves?

「Question 3」 Moztaba has talked of bloody revenge, and some analysts say he could pursue an even tougher line than his predecessor. Israel’s prime minister called him “a puppet of the Revolutionary Guard who can’t even show his face in public.” How much real influence does Moztaba hold inside Iran and over its armed forces?

「Question 4」 The White House faces backlash over a video that mashes up video-game footage with footage of strikes on Iran. One segment uses a golf video game: a character’s shot triggers a “Hole-in-one” caption and sound as the scene depicts a bombing. What are the implications of equating real-world conflict and casualties with a virtual game?

「Question 5」 Prime Minister Netanyahu, speaking publicly for the first time since the war began, said Israel now aims to help the Iranian people overturn clerical rule. Given Iran’s economic woes and political repression, is Israel’s strategy of exploiting internal unrest likely to succeed?

「Question 6」 Reports say Iran has already begun laying mines in the Strait of Hormuz, apparently evading intense U.S. interdiction. Once mines are emplaced, complete clearance is extremely difficult before hostilities end. Would that tactic place significant pressure on the U.S. and President Trump?

「Question 7」 There is growing concern that a blockade of the Strait of Hormuz would trigger an energy crisis and prolonged economic fallout. Some energy experts warn that a closure lasting more than seven weeks could trigger a global downturn on the scale of the 1930s Great Depression. How plausible is that scenario?

「Question 8」 Reporting indicates the U.S. administration did not fully account for the possibility that strikes on Iran could prompt a closure of the Strait of Hormuz and broader global economic repercussions. CNN reports the Pentagon and the National Security Council underestimated Iran’s willingness to block the strait during operational planning, citing Tehran’s previous threats during last June’s “12-day war,” when it ultimately did not act. If accurate, wouldn’t the Trump administration face severe criticism for that miscalculation?

「Question 9」 Foreign media report that Iran has told neighboring Arab states it will only enter ceasefire talks after strict preconditions—such as a halt to airstrikes—are met. Tehran reportedly also demands reparations and the withdrawal of U.S. forces from nearby areas. Do these demands indicate confidence on Iran’s part, or are they negotiating starting points?

「Question 10」 Some analysts argue Russia stands to benefit most from this crisis. President Putin has highlighted his role as a mediator by publicizing a call with President Trump, and Russia is profiting from higher oil prices after the near closure of the Strait of Hormuz. Could these developments strengthen Russia’s position in the conflict in Ukraine as well?


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Park Jin-hyung (jin@yna.co.kr)