The old structures of world history are crumbling, and a new, more violent reality is taking shape. The direct military attack by the United States and Israel against Iran has torn apart the remaining shreds of international law and diplomacy. Martti Koskenniemi, an academic of international law and Professor Emeritus—widely regarded as one of the world's leading legal scholars—states unequivocally that the attack is illegal, as it fails to meet the criteria for self-defense or authorization by the UN Security Council [Pekonen, March 3, 2026]. This legal vacuum is not merely a formality; it signifies a transition into an era that Fyodor Lukyanov, Research Director of the Valdai Club and a respected foreign policy expert, calls "Russian roulette" in international relations [Lukyanov, ”Iran war”, March 2, 2026]. Lukyanov emphasizes that the intentional assassination of a head of state is a new, dangerous paradigm that removes the constraints from great power politics [Lukyanov, ”Iran war”, March 2, 2026]. Geopolitical instability has become a permanent state; in this moral and aesthetic collapse, the nakedness of power eclipses humanity.
When the United States and Israel launched their missiles at Tehran, they did not just strike military targets; they sought direct regime change by eliminating the supreme leadership. Scott Ritter, a former U.S. Marine Corps intelligence officer and UN weapons inspector, assesses the situation in his "Day Three" report, stating that the war was lost with the very first missiles that killed Ayatollah Khamenei [Ritter, ”Epstein”, March 2, 2026]. According to Ritter, the attack did not cause the Iranian people to rise against their government; on the contrary, it united the nation around a central martyrdom [Ritter, ”Epstein”, March 2, 2026]. Similarly, Dmitry Medvedev, Deputy Chairman of the Russian Security Council and former President, warns that the murder of Khamenei was a grave mistake that turned a religious leader into a martyr and placed all Americans in danger [RT, ”Medvedev”, March 2, 2026]. Medvedev views the situation as a step toward World War III, as Iran will now triple its efforts to develop a nuclear weapon [RT, ”Medvedev”, March 2, 2026]. Russia’s official stance, as seen in Foreign Ministry statements, condemns the strikes as unprovoked aggression and political assassination [RT, ”Russia reacted”, March 3, 2026].
From a military perspective, the attack has exposed the vulnerability of Western technology. Douglas Macgregor, a retired Colonel and former advisor to the U.S. Secretary of Defense, points out that Israel’s Iron Dome defense system does not function as expected against Iran's advanced missiles [Diesen & Macgregor, March 3, 2026]. According to Macgregor, Iran’s ability to use decoys and hypersonic speeds has surprised the West, rendering American military hegemony a mere memory [Diesen & Macgregor, March 3, 2026]. At the same time, the significance of the U.S. high-alert status is analyzed by George Will, a Pulitzer Prize-winning columnist and PhD in political science, who reminds us that the situation is more critical than most realize [Will, March 1, 2026]. Will emphasizes that the war is not limited to the desert; it is spreading into cyberspace and threatening civilian infrastructure worldwide [Will, March 1, 2026].
The economic consequences are already staggering. Alex Krainer, an experienced market analyst and former hedge fund manager, predicts oil prices will rise into triple digits if the Strait of Hormuz remains closed [Diesen & Krainer, March 2, 2026]. Krainer warns of a potential rise in oil prices to $200–300 per barrel if the blockage persists [Diesen & Krainer, March 2, 2026].
For a country like Finland, where distances are long and logistics costs are high, $200–300 per barrel would mean an immediate blow to all aspects of life. If the price of oil triples from current levels, fuel prices at the pump in Finland would rise to levels never seen before—roughly estimated at 4–5 euros per liter. This is not just a problem for motorists; it would immediately transfer to food prices and industrial production costs. As Douglas Macgregor points out, every ten-dollar increase in the price of crude oil acts as a massive "war tax," shifting wealth from consumers and industry to energy producers [Diesen & Macgregor, March 3, 2026]. For the Finnish national economy, already struggling with weakening purchasing power and the worst unemployment in Europe, this would mean a complete halt in domestic demand and an acceleration of inflation into double digits.
Finnish industry, particularly the forest, metal, and chemical sectors, is highly energy-intensive. Jiang Xueqin, a Yale-educated historian and game theorist, suggests that a restructuring of the global economy is underway, in which Western technological power is crumbling [Breaking Points, ”Professor Jiang”, March 2, 2026]. When global supply chains freeze in the manner described by George Will, Finland’s export industry loses not only its raw materials but also its markets [Will, March 1, 2026].
Particularly dangerous is the "hockey stick" phenomenon in commodity markets mentioned by Krainer: when prices begin a vertical ascent, it becomes impossible for companies to forecast costs, leading to an immediate halt in investment. Finnish industrial companies, already burdened by debt and high interest rates, would face unprecedented pressure, leading to widespread bankruptcies and an explosive growth in unemployment, following the current record levels.
According to Krainer, Europe is particularly vulnerable to this blow; a spiral of hyperinflation and economic collapse reminiscent of the Weimar Republic may lie ahead [Diesen & Krainer, March 2, 2026]. Jiang Xueqin takes the analysis even further, suggesting that Iran’s strategy to strike energy infrastructure and desalination plants is designed to destroy the dominance of the U.S. dollar and burst the economic bubble built on AI investments [Breaking Points, ”Professor Jiang”, March 2, 2026]. Jiang sees the war resulting in the collapse of the petrodollar, which will irrevocably change the world order into a multipolar one [Breaking Points, ”Professor Jiang”, March 2, 2026].
Finland’s public finances are already in poor condition, and the accumulation of debt has continued at an alarming rate. Alex Krainer highlights the potential collapse of the European bond market as investors begin to "dump" European securities [Diesen & Krainer, March 2, 2026]. For the Finnish state, this means a dramatic rise in interest costs.
If markets begin to perceive Finland as part of the "unstable and belligerent West," as investigative journalist Ben Norton implies, risk premiums will rise even further [Norton, ”Global war”, March 2, 2026]. Mathematically, even a 1–2 percentage point increase in the average interest rate on national debt would mean an additional bill of billions of euros annually, forcing drastic cuts to the basic services of the welfare state just when the people need them most. Jeffrey Sachs, a renowned economist and professor, reminds us that the U.S.-led pursuit of hegemony has created budget deficits that no economy can sustain for long—Finland, as a small open economy, is the weakest link in this chain and the first to break [Breaking Points, ”Sachs”, March 2, 2026].
Economics is not just about numbers; it is also about expectations and psychology. When Emilia Kullas, Director of the Finnish Business and Policy Forum (EVA), states that trust in Donald Trump and global stability is cracking, it signifies the disappearance of a sense of economic security [Kullas, March 3, 2026]. When economic survival turns into a brutal struggle, the moral and aesthetic fabric of society tears.
The Finnish national economy is now facing a "multidisciplinary" crisis, where military strategy (the closure of the Strait of Hormuz), economics (energy inflation), and psychology (despair) are intertwined. If Krainer’s predicted scenario comes true, Finland faces not just a recession, but a structural collapse where old recipes for success—free trade and stable European integration—no longer work. The concern is more than justified; it is an existential necessity for a nation that has built its prosperity on sandbanks now battered by the waves of global war.
The role of propaganda and information warfare is central to this crisis. Juha-Matti Mustonen, a community educator and chair of the Left Alliance in North Ostrobothnia, offers a critical observation that the attack on Iran is an attempt to divert attention away from the Epstein lists and the genocide carried out by Israel [Mustonen, ”Iraniin hyökkääminen”, Feb 28, 2026]. Mustonen reminds us of the horrific human cost of the attack, such as the strike on a girls' school that killed dozens of children [Mustonen, ”Iraniin hyökkääminen”, Feb 28, 2026]. Investigative journalist and Editor-in-Chief of the Geopolitical Economy Report, Ben Norton, confirms the same information, stating that even the Pentagon has admitted the war is based on lies about imminent threats [Norton, ”Global war”, March 2, 2026]. Norton harshly criticizes the support of the European Union and Canada for this "illegal war of aggression," seeing in it the true face of Western imperialism [Norton, ”Global war”, March 2, 2026].
U.S. domestic political chaos is directly reflected in the war effort. Ben Meiselas, a human rights lawyer and founder of the MeidasTouch network, reports that Trump has lost control of the war while Americans are being evacuated from the Middle East in haste [Meiselas & MeidasTouch, March 3, 2026]. Meiselas describes the situation as a total catastrophe where diplomatic channels have been demolished and civilians left to their own devices [Meiselas & MeidasTouch, March 3, 2026]. Emilia Kullas, Director of EVA, notes that Trump’s unpredictability has turned even Finnish public opinion negative toward the United States [Kullas, March 3, 2026]. Kullas assesses that instead of a quick victory, Trump may have ignited a Middle Eastern powder keg with entirely unpredictable consequences [Kullas, March 3, 2026].
The war also has a deep ideological and even eschatological dimension. Aleksandr Dugin, a Russian philosopher and geopolitical theorist, remarks that "the devil says he is a good guy" and warns that red lines have now been erased [Дугин, ”The devil says”, March 3, 2026]. Dugin sees the war as part of a broader spiritual struggle and points out that Russian unity amidst the war stands in contrast to the moral collapse of the West [Дугин, ”Patria”, March 2, 2026]. Meanwhile, professor and world-renowned economist Jeffrey Sachs calls Trump and Netanyahu psychopaths who are executing a decades-old plan for regional hegemony regardless of the death toll [Breaking Points, ”Sachs”, March 2, 2026]. According to Sachs, the United States has become complicit in genocidal policies that destroy the state's credibility [Breaking Points, ”Sachs”, March 2, 2026].
Israel’s strategic position has become terrifying. Haim Bresheeth-Zabner, a professor of film studies and IDF historian, warns of the "Samson Option," where a cornered Israel could resort to nuclear weapons, causing an apocalypse-like disaster [Halper, Marandi & Bresheeth-Zabner, March 3, 2026]. Simultaneously, reports from The Young Turks suggest that Israel may be carrying out "false flag" operations to draw Arab nations deeper into the war [The Young Turks, ”Tucker”, March 3, 2026]. Such actions reveal the "ugliness": the lust for power turns into self-destructive madness.
The reactions of Russia and China will determine the final outcome of the war. The Times of India reports that Putin has made emergency calls to Arab leaders, emphasizing the need for an immediate halt to escalation [Times of India, ”Putin´s Big Move”, March 2, 2026]. China expert Ladislav Zemánek assesses that the strikes test China’s energy security and global objectives [Zemánek, March 2, 2026]. According to Zemánek, the war may paradoxically strengthen China’s position as a moderate superpower, while the U.S. exhausts its resources and reputation [Zemánek, March 2, 2026]. Meanwhile, a heated exchange between Senator Elissa Slotkin and Pete Hegseth reveals the extent to which the U.S. military is being prepared for use even against its own citizens at home [Rage Rewind, March 2, 2026].
Is there cause for concern? The answer is painfully clear: the world is not just changing, it is falling apart—and Finland is collapsing. Strategic failure combined with moral decay creates a situation where no one is safe. Trust in international agreements is gone, replaced by raw force and fear. When beauty and truth die in politics, only the ugliness remains, which eventually destroys everything.
We are witnessing the final days of an empire, where every action is merely a desperate attempt to maintain the illusion of control. If the war expands into a nuclear conflict or a total global economic collapse, there is no returning to the past. The survival of humanity now depends on whether forces can be found somewhere that are capable of stopping this cycle before the final blow. But the desire to negotiate is a mere smokescreen on both sides—one party is even murdered in the middle of negotiations. The massacre has begun; its shadow falls on everyone’s doorstep, even if the missiles fall thousands of kilometers away. The world has become a darker place, and concern is the only rational reaction to this new reality.
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Juha Molari, BBA, Ph.D.
March 2, 2026 in Helsinki
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