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Sustained U.S. and Israeli strikes and Iranian counterattacks through March have materially increased geopolitical complexity. Separately, an evolving regulatory landscape with several notable and some first-of-their-kind developments is raising policy uncertainty that could affect defense- and sanctions-sensitive sectors, and complicate cross-border trade and compliance considerations.

Analysis

Sustained U.S. and Israeli strikes and Iranian counterattacks through March have materially increased geopolitical complexity. Separately, an evolving regulatory landscape with several notable and some first-of-their-kind developments is raising policy uncertainty that could affect defense- and sanctions-sensitive sectors, and complicate cross-border trade and compliance considerations.