
In this first instalment, we examine the military and industrial impact of Operations Epic Fury and Roaring Lion on Iran’s conventional capabilities. It will be followed next week by a second and final part exploring the conditions that could lead to Iran’s implosion over the medium to long term. The Iranian regime suffered heavy losses during the US-Israeli war fought between February and April 2026. Yet despite the scale of the damage, the collapse of the Islamic Republic did not materialize, and Tehran showed no sign of flexibility in response to U.S. sanctions and the American naval blockade.








