• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Trending:
  • Kashmir
  • Elections
Thursday, June 18, 2026

Daily Times

Your right to know

  • HOME
  • Latest
  • Iran-Israel war
  • Gilgit Baltistan Election
  • Pakistan
    • Balochistan
    • Gilgit Baltistan
    • Khyber Pakhtunkhwa
    • Punjab
    • Sindh
  • World
  • Editorials & Opinions
    • Editorials
    • Op-Eds
    • Commentary / Insight
    • Perspectives
    • Cartoons
    • Letters to the Editor
    • Featured
    • Blogs
      • Pakistan
      • World
      • Lifestyle
      • Culture
      • Sports
  • Business
  • Sports
  • E-PAPER
    • Lahore
    • Islamabad
    • Karachi

Zulfiqar Ali Shirazi

Iran’s Economic Counterpunch

Published on: March 19, 2026 8:54 AM

March 19, 2026 by Zulfiqar Ali Shirazi

The recent attacks on critical oil and port infrastructure across the Middle East mark a strategic turning point in the unfolding United States-Israel-Iran confrontation. Offshore platforms operated by American companies and key facilities tied to global energy flows came under coordinated Iranian assault. These actions were not random provocations or symbolic gestures. They carried a deliberate geopolitical message: if Iran’s economy is choked through sanctions and pressure on its oil exports, the networks sustaining global energy supply can also be placed at risk. For years, Iranian officials warned that attempts to drive their oil exports to zero would invite retaliation capable of reshaping the regional balance. The latest attacks, combined with the sealing of the Strait of Hormuz, indicate that this warning has now entered an operational phase.

Global markets reacted immediately. Energy prices rose, and supply chains showed signs of strain. Reports of food shortages in Israeli stores amid disruptions at the major port of Ashdod strained supply chains delivering grain, medicines, and industrial goods, thus intensifying domestic pressures. It has exposed vulnerabilities in systems long assumed to be shielded by military superiority. Israel, a state that has maintained a dominant military position for decades, suddenly encountered a different dimension of warfare: pressure directed not at armies but at the economic arteries that sustain modern states within an interconnected global system.

Israel, a state that has maintained a dominant military position for decades, suddenly encountered a different dimension of warfare: pressure directed not at armies but at the economic arteries that sustain modern states within an interconnected global system.

This development challenges assumptions that have shaped regional security for decades. Israel has consistently projected technological sophistication supported by powerful alliances. American military assistance, European political backing, and advanced defensive systems created what appeared to be a formidable security architecture. Naval patrols, missile defence networks such as Patriot batteries, and intelligence cooperation with Western partners formed a layered shield designed to deter conventional threats. On paper, the system appeared overwhelming.

Notwithstanding the recent operations, there were gaps in that structure. Instead of relying on predictable rocket barrages similar to those historically launched by non-state actors, the strikes employed techniques associated with contemporary asymmetric warfare. Low-flying drones, terrain-hugging trajectories, and high-speed missile systems were used to bypass traditional detection patterns. The objective was not widespread destruction but precise disruption. Ports, refineries, and offshore installations representing the economic spine of the region, when even briefly interrupted at such nodes, can trigger a domino effect across supply chains stretching from the Mediterranean to Asian markets.

These tactics are a response to sanctions that tried to weaken Iran by cutting its oil exports. By striking energy facilities tied to global markets, Iran is signalling that economic pressure can be answered by an equivalent counterpunch. The message extends beyond Israel to the broader network of states and corporations whose operations depend on stability in the Gulf and Eastern Mediterranean.

These events also raise difficult questions for regional security partners. For decades, Arab monarchies have invested vast resources in defence agreements with the United States. Missile defence systems, air patrols, and surveillance networks were intended to protect oil facilities and other strategic assets. The war, however, exposed the fragility of the assumption and created a capability trust deficit.

At the same time, the global arms market is undergoing a visible transformation. China has steadily expanded its presence as a supplier of advanced defence technologies, while Russia maintains influence through military cooperation with several regional actors. Iranian military capabilities, often developed under sanctions and supplemented through external covert collaboration, increasingly rely on domestically adapted technologies such as precision drones and manoeuvrable missiles. Their deployment in real combat conditions provides a demonstration effect that resonates well beyond the battlefield. For Beijing in particular, whose systems have already drawn attention after their performance in the Pakistan-India conflict of May 2025, such developments reinforce the perception that alternative defence technologies are more credible than those of the West.

These shifts intersect with broader changes in global power distribution. Washington had been working to consolidate a regional alignment aimed at containing Iranian influence, bringing together Israel and several Arab states in what many analysts described as a strategic encirclement. The recent strikes complicate that framework by exposing vulnerabilities within the economic systems supporting the region’s security architecture. When ports close, refineries halt production, or maritime routes are disrupted, the consequences extend far beyond immediate military considerations. The financial dimension of conflict has therefore become unmistakable.

Likewise, Gulf oil facilities represent far more than national assets; they are critical nodes within the global energy system. Interruptions in production or export flows, particularly through the sealed Strait of Hormuz, drive price volatility across continents.

Behind these strategic calculations lie human consequences. Families confronting shortages in urban supermarkets, refinery workers evacuating industrial complexes, and consumers facing rising fuel costs illustrate the lived reality of geopolitical confrontation. Modern warfare increasingly operates in a grey zone where battlefields are extended into economic systems, logistics networks, and financial markets.

For Israel and its partners, the implication is unavoidable. Deterrence must now account for threats that differ fundamentally from traditional warfare. For Gulf monarchies, the events highlight the risks of relying exclusively on external security guarantees. For major powers, the strikes underscore the vulnerabilities embedded within economic globalisation itself, where interconnected markets can become instruments of strategic leverage. Sealing Hormuz disrupts the cycle where Arab oil earns dollars from the United States, and in turn funds American technology investments, to finance its own essential food imports from Western and Indian suppliers.

The Middle East entering this new phase will measure power not only by military strength but by resilience against economic shocks and the capacity to protect the energy networks that sustain global markets. In this evolving environment, influence will be determined as much by control over infrastructure and trade corridors as by dominance on conventional battlefields. Whether Iran’s strong economic counterpunch represents a temporary escalation or the beginning of a longer transformation remains uncertain. What appears increasingly evident, however, is that economic degradation has re-emerged as a powerful instrument of statecraft capable of reshaping the geopolitical landscape across the region.

The writer is a freelance columnist and can be reached at [email protected]

Filed Under: Op-Ed Tagged With: Counterpunch, economic, Iran

Submit a Comment




Primary Sidebar




Latest News

ADB approves $700m loan to strengthen Pakistan’s insurance sector

Suniel Shetty praises playful nature of Akshay Kumar

Trump says Apple to partner with Intel on US chip production

Former hospital worker cautioned over Princess Catherine medical records breach

KP police to form Special Combat Unit against terrorists

Pakistan

ADB approves $700m loan to strengthen Pakistan’s insurance sector

KP police to form Special Combat Unit against terrorists

Supreme Court of Pakistan approves 100% hike in utility allowance

DISCOs roll out redesigned electricity bills across Pakistan

Punjab launches motorcycle permit for teenagers

More Posts from this Category

Business

Senate panel recommends bringing exporters under Final Tax Regime

IT exports surpass $4 billion for first time

Gold prices dip by Rs 200 per tola

Rupee gains three paisa against dollar

RCCI holds post-budget review session

More Posts from this Category

World

Trump says Apple to partner with Intel on US chip production

Modi reports progress in US trade talks after Trump meeting

Israeli air strikes on Lebanon continue despite US-Iran deal

More Posts from this Category




Footer

Home
Lead Stories
Latest News
Editor’s Picks

Culture
Life & Style
Featured
Videos

Editorials
OP-EDS
Commentary
Advertise

Cartoons
Letters
Blogs
Privacy Policy

Contact
Company’s Financials
Investor Information
Terms & Conditions

Facebook
Twitter
Instagram
Youtube

© 2026 Daily Times. All rights reserved.

Manage Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.