However triumphantly the White House portrays any deal, officials shouldn’t mistake this for anything but a strategic debacle. The war, launched without a coherent strategy or realistic endgame, has produced a more hard-line regime in Tehran — one that now knows it can strangle the world economy with a few drones, mines and fast boats. Gulf neighbors that once sought to isolate the Islamic Republic are now looking to mend ties. The threat of US and Israeli attack no longer carries the same potency.

 

An Iran Truce May Be Near. That Doesn’t Make This War Any Smarter

May 29, 2026 at 6:00 AM EDT

By The Bloomberg Editorial Board

The Editorial Board publishes the views of the editors across a range of national and global affairs.