Rational Pause

March 24, 2026

Newspaper, Opinions, Editorials

Share on Facebook Share on Twitter

Share on Facebook Share on Twitter

It may be the steadfast resistance of the Iranian people, or the alarm bells ringing in financial centres from New York to Washington, but it appears that Donald Trump has stepped back from a policy of maximal pressure that had veered toward dangerous escalation. Rather than seeking an exit from the Middle East crisis, the United States, under Israeli pressure, had embraced a strategy that expanded targets to include infrastructure, civilian energy networks, water desalination plants, hospitals and schools—an approach aimed at forcing Iran to its knees. Yet Iran’s consistent tit-for-tat retaliation seems to have imposed a sobering reality check. An eye for an eye makes the whole world blind; continued strikes on energy infrastructure risk triggering retaliatory disruptions across the region, paralysing global supply chains and tipping the world into economic crisis.

Foreign exchange rates

For once, prudence appears to have tempered the rhetoric of total victory. Washington now seems to be considering a step back from the brink of full-scale war, aware of the cascading consequences such a conflict would unleash. Credit must also be extended to countries such as Pakistan, Turkey and Egypt, which have maintained fragile lines of communication between Tehran and Washington, attempting to construct an off-ramp where none was visible. Markets have responded accordingly, with oil prices easing and investor confidence tentatively recovering. Yet the fog of war remains thick, and such signals must be treated with caution.

Oman: Muscat sees moderate to heavy rainfall; authorities urge caution

These conciliatory tones may be as much about stabilising markets as they are about signalling genuine de-escalation. Statements designed to calm investors can achieve their purpose without necessarily reflecting long-term intent. Moreover, Trump’s record of abrupt policy reversals suggests that today’s restraint could give way to tomorrow’s escalation. At the same time, Iran does not appear inclined toward negotiations, instead pressing its advantage and seeking to push both the United States and Israel out of the conflict altogether.

Still, even a fleeting moment of restraint carries significance. It suggests that rational calculation has not entirely disappeared from the equation, and that, however narrow, a path away from catastrophe remains.

KP health authorities seek explanations from 24 hospitals over irregular drug purchases

Share on Facebook Share on Twitter

© The Nation (Editorials)