Jérôme Denariez
Ormuz, Red Sea: The Gulf War Enters European Budgets
Iran will likely emerge from the conflict weakened. That does not mean the United States will emerge victorious. For several weeks now, this war has been acting less on territories or military capabilities than on flows, delays, costs, and expectations. For European companies building their 2027 budgets, Hormuz is no longer a distant geopolitical question.















