Radford University expert available: Economic impacts of U.S. strikes on Iran and the widening Middle East conflict

Radford, VA (03/04/2026) — As U.S. and Israeli strikes on Iran enter a new phase, the conflict is already rippling beyond the battlefield, fueling volatility in energy markets, disrupting trade routes through the Strait of Hormuz, and raising questions about the economic and strategic "endgame" of U.S. involvement. The International Monetary Fund said the conflict has already contributed to disruptions in trade and economic activity, surges in energy prices, and financial-market volatility, with the ultimate impact hinging on the conflict's scope and duration.

Thomas K. Duncan, Ph.D., professor of economics and department chair in the Davis College of Business and Economics, can speak to the political economy of war with Iran and the downstream costs to the U.S. economy.

Potential interview angles:

• Mission creep and economic cost: How unclear war aims can expand over time, shifting from targeted objectives to regime change, rebuilding, and prolonged commitments, with major fiscal and resource consequences.
• Energy/shipping shockwaves: Why Hormuz risk can quickly translate into higher tanker rates, shipping slowdowns, insurance costs, and price pressure that reaches consumers.
• Unintended consequences and spillover: How intervention can create regional knock-on effects that reshape trade, investment, and security dynamics long after the initial strikes.

Justin Ward, director of media services, jward53@radford.edu, can help coordinate a phone, Zoom or in-person interview this week.