This is the latest episode in The Escalation Trap, an ongoing series with Robert Pape of the University of Chicago tracking the war involving the United States, Israel, and Iran in real time.

After new strikes in the Strait of Hormuz, U.S. bombing inside Iran, Iranian missile attacks on U.S. bases in Kuwait and Bahrain, and renewed talk of a ceasefire, Pape argues that the conflict is not ending.

Instead, we are in the middle game of the escalation trap.

That means periods of violence followed by pauses — not a durable ceasefire.

Pape explains why Iran has not been deterred by assassination, bombing, blockade pressure, or threats. Instead, Iran may be entering a period of maximum coercive leverage as oil inventories draw down and pressure grows on the global economy.

We also discuss Iran’s nuclear trajectory, the risks facing U.S. forces in the Gulf, the role of Lebanon and the Red Sea, Israel’s future security position, and why the timing of Iran’s nuclear decision may depend less on politics and more on feasibility.

The war did not end.

The ceasefire is not holding in any meaningful strategic sense.

And Iran may be using this phase of the conflict to increase leverage, pressure U.S. forces, and move closer to the kind of regional power position Pape has warned about throughout this series.

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At the Water’s Edge delivers practitioner-level insight into national security and geopolitics — bridging academic theory with how conflicts actually unfold in the real world.

In this episode:Key takeaway:Follow Robert Pape’s work:About the show: