The Middle East faces major peril. In the wake of Hamas’s October 7th attack on Israel, the resulting war could boil over into a broader regional conflict. That could draw in militias such as Hezbollah in Lebanon and, in a worst-case scenario, precipitate a full-blown war between Israel and Iran. The humanitarian consequences for the region would be catastrophic. The economic fallout, triggered in part by a spike in oil prices, would rattle a world already struggling with the impact of the war in Ukraine and the end of the pandemic.
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