US-Israeli strike on Iran signals new phase of global escalation

AI Summary
Recent US-Israeli strikes inside Iran signify a significant escalation in the ongoing conflict between Israel and Iran, moving beyond proxy engagements to direct state-on-state confrontation. This shift, marked by increased US involvement since February 28, alters the deterrence dynamics and carries implications beyond the Middle East. The evolving confrontation, characterized by phases of missile exchanges and strikes, has gradually normalized actions previously considered extraordinary. This escalation poses risks to global energy flows, maritime transit routes, and supply chain stability, particularly impacting Asian economies dependent on these factors. The long-standing taboo against direct state-to-state strikes has eroded.
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