Rising Tensions in Iran: Market Volatility, Strategic Risks, and the Limits of Regime Change

Published on EGF: 25.06.2025

by EGF Editor

In an exclusive interview with EU Today, Dr Marat Terterov, Founder and Director of the Brussels Energy Club, and Co-founder of the European Geopolitical Forum, outlined the key economic and geopolitical implications of the current crisis and warned against further escalation or any attempt at externally imposed regime change in Iran. According to Dr Terterov, oil prices spiked by approximately 7 percent in the immediate aftermath of the strikes—an early signal of market anxiety. Although prices have since moderated, he emphasised that this stabilisation is largely based on “bets on a ceasefire” and a broad assumption that the situation would not worsen. “Most experts believe Iran lacks the military muscle to sustain an open conflict with the United States or Israel,” he said. While Tehran has voiced outrage over the strikes—carried out during ongoing nuclear negotiations—Dr Terterov cautioned against underestimating the strategic calculus behind Iran’s actions. READ MORE

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