China’s energy security may be put to its first true test in 2026 with the seizure of Venezuelan leader Nicolás Maduro in January and joint U.S.-Israeli military action against Iran beginning in late February. These events have disrupted two sources of China’s oil supply....

Rising tensions between Washington and Iran are now threatening to reach the United Arab Emirates (UAE), a U.S. ally. Hamidreza Moghaddamfar, an adviser to the commander-in-chief of Iran’s Islamic Revolutionary Guard Corps (IRGC), warned in February that assets in the UAE linked to U.S. President...