On Monday morning, in the East Wing of the White House, President Trump began a Medal of Honour ceremony with remarks that quickly turned from tribute to war. Speaking in measured tones, he outlined the rationale for Operation Epic Fury, now in its third day, and vowed to “crush” what he called the Iranian threat to the United States. The president said American forces had already destroyed ten Iranian vessels and promised that Tehran would no longer be able to “fund armies beyond borders.” At least four American service members have been killed since the operation began, according to early reports, though later briefings from U.S. Central Command put the number at six dead and 18 seriously wounded. Mr Trump projected a conflict lasting “four to five weeks,” while adding that it could continue “as long as it takes.” The phrasing, resolute yet open-ended, signalled the possibility of another prolonged American military engagement in the Middle East, even as administration officials insisted this campaign would not resemble Iraq or Afghanistan. By late afternoon, financial markets were already reacting. An analyst at UBS told clients that Iranian media had reported the closure of the Strait of Hormuz, a claim Tehran has […]