In the modern era, the theater of war has expanded far beyond physical battlegrounds. Today, geopolitical conflicts—most notably the recent Iran–US military escalation of 2026 and the ongoing ripple effects of the Russia–Ukraine war —trigger immediate and massive government interventions. These are no longer just "externalities" for businesses; they are structural shifts. When the Strait of Hormuz was effectively closed in early 2026, it didn't just raise fuel prices—it tri
