William Blair：2026年伊朗、能源与全球权力的新规则周报（英文版）

War has erupted in the Middle East once again. To understand why this is happening (beyond the obvious removal of the nuclear threat from a dodgy player), one needs to take a step back and look at the situation above the fog of war. What we see from this vantage point is the eruption of a kinetic hot war, in what has been an ongoing cold war for many years now between the U.S., China, and to some degree Russia. From this perspective, Iran seems to be more of a skirmish in the global fight for