Goa, June 23 -- Iran's decades-long strategy of building layered military capabilities-both at home and through regional proxies-was designed in large part to deter direct U.S. intervention. With the United States now entering Israel's war against Iran and launching airstrikes on three of Iran's key nuclear sites, Tehran faces a critical decision point. The rationale for holding its most potent military assets in reserve may have evaporated, raising the stakes for a dramatic escalation that could reshape the entire Middle East and reverberate globally. See three major avenues Iran might pursue in response:

The Strait of Hormuz is one of the world's most vital energy chokepoints, with about 20% of all global oil trade passing through its ...