After one month of the US-Iran war, who is winning and who is losing?

Roland Oliphant and Venetia Rainey step back to examine how much of US President Donald Trump’s original war goals have been achieved, from destroying Iran’s missiles, navy and regional proxies to regime change and preventing the development of nuclear weapons.

They also look at the role of Israel, the impact of attacks on the Gulf and the global economic shock caused by Iran’s closure of the vital waterway, the Strait of Hormuz.

Plus, they discuss the depletion of global munition stocks after a month of air strikes, how the conflict has further frayed the Western alliance and what all that means for Ukraine and Russia.

If you’ve been struggling to keep up with the latest news from the Middle East conflict, this is an update and analysis of everything you need to know from March 2026.

CONTRIBUTORS:

Roland Oliphant, co-host and chief foreign affairs analyst @RolandOliphant

Venetia Rainey, co-host @venetiarainey

CONTENT REFERENCED:

Why tens of millions face hunger and poverty in wake of Trump’s Iran war

American troops forced to withdraw from Middle East bases

RUSI: Over 11,000 munitions in 16 Days of the Iran War: ‘Command of the Reload’ Governs Endurance

Producer: Peter Shevlin

Executive Producer: Louisa Wells

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► EMAIL US: Contact the team on battlelines@telegraph.co.uk

► GET THE LATEST HEADLINES: Find all our latest Iran coverage here: https://www.telegraph.co.uk/iran-war/

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Is the US about to invade Iran?

Warship USS Tripoli has arrived in the Middle East with thousands of fresh troops, and the USS Boxer is not far behind - but Iran has vowed to “rain fire” on any American troops who set foot on its territory. Meanwhile, Trump is said to be considering taking Kharg Island and has been claiming regime change has already happened.

Venetia Rainey and Roland Oliphant discuss all the latest updates, along with the impact on the price of oil and Israel expanding its offensive in southern Lebanon.

Yemen expert and University of Cambridge mistress Elisabeth Kendall explains why the Houthis joining the war is so significant and how they could turn things into a “nightmare”.

Plus, a glimpse into daily life on the ground in Tehran. Norwegian Refugee Council’s Iran director, Martje van Raamsdonk, joins from the Iranian capital to talk about how bombing has intensified in recent days, prompting residents to tape up their windows, and growing fears and uncertainty amid talks of a US invasion.

CONTRIBUTORS:

Roland Oliphant, co-host and chief foreign affairs analyst @RolandOliphant

Venetia Rainey, co-host @venetiarainey

Elisabeth Kendall, president of Girton College, @Dr_E_Kendall

Martje van Raamsdonk, Norwegian Refugee Council’s Iran director

CONTENT REFERENCED:

Trump needs troops to seize the Strait of Hormuz. These are his options

‘Gate of Tears’ could be a strait too far for Trump’s military

Producer: Peter Shevlin

Executive Producer: Louisa Wells

► Sign up to our most popular newsletter, From the Editor. Look forward to receiving free-thinking comment and the day's biggest stories, every morning. telegraph.co.uk/fromtheeditor

► EMAIL US: Contact the team on battlelines@telegraph.co.uk

► GET THE LATEST HEADLINES: Find all our latest Iran coverage here: https://www.telegraph.co.uk/iran-war/

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Iran’s blockade of the Strait of Hormuz has already pushed up oil prices. But is a bigger global economic disruption yet to come? And how long will it last?

The Telegraph’s World Economy Editor Ambrose Evans-Pritchard joins Roland Oliphant to explain why the Iran conflict is sending shock waves around the world - and not just in the oil market.

From fertiliser to helium to sulphur, the block on shipping through the Strait carries other key commodities used by the tech industry, hospitals and farmers. Ambrose explains how the war will almost certainly cause a global food shock in 2027.

They also discuss how Russia and China are benefitting from the Iran war and why the Houthis in Yemen remain the dog that hasn’t barked - but could make things even worse than they are now.

Plus, Roland Oliphant and senior foreign correspondent Sohia Yan analyse the latest news from the Iran war, including Donald Trump’s ongoing attempts at peace talks with Tehran, the US Navy’s first ever use of unmanned surface boats and why AP is now calling Israel’s attack on Lebanon an invasion.

CONTRIBUTORS:

Roland Oliphant, co-host and chief foreign affairs analyst @RolandOliphant

Sophia Yan, senior foreign correspondent @sophia_yan

Ambrose Evans-Pritchard, world economy editor

CONTENT REFERENCED:

Roland Oliphant: Trump needs troops to seize the Strait of Hormuz. These are his options

Ambrose Evans-Pritchard: China has already won the Gulf War

Ambrose Evans-Pritchard: The longer Trump’s war drags on, the worse the coming global food crisis

Producer: Peter Shevlin

Executive Producer: Louisa Wells

► Sign up to our most popular newsletter, From the Editor. Look forward to receiving free-thinking comment and the day's biggest stories, every morning. telegraph.co.uk/fromtheeditor

► EMAIL US: Contact the team on battlelines@telegraph.co.uk

► GET THE LATEST HEADLINES: Find all our latest Iran coverage here: https://www.telegraph.co.uk/iran-war/

Hosted on Acast. See acast.com/privacy for more information.