00:00Well, right now the war has several different fronts.
00:04The US and Israel are continuing strikes against Iranian military targets and the security services, the Basij and the Revolutionary
00:13Guard.
00:13I think the drama around Hormuz and the fact that the Iranians may think that a ceasefire isn't to their
00:25benefit yet.
00:25The Israelis may think that they need to continue to fully degrade to the extent they can.
00:31Iran's capabilities and obviously President Trump's decision here means that it's one of those things where it could wind down
00:38in days and it could go on for months.
00:40It's reverberating everywhere from food markets to sanctions relief waivers for Russia and the potential transfer of munitions from one
00:51region of the world to the other.
00:52And in that sense, you know, we are only in the third week, but the longer this goes on, the
00:57more substantial the impact will be.
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