Steve Jermy: Iran, Russia, NATO & the Global Energy Crisis Explained | EP 134

In Episode 134 of the Kianistan Podcast, retired Royal Navy Commodore Steve Jermy joins us for a comprehensive discussion on today's most pressing geopolitical challenges, including the Iran–US confrontation, the future of the Strait of Hormuz, Russia–Ukraine, NATO strategy, energy security, and the changing global balance of power. Drawing on decades of military, strategic, and energy-sector experience, Steve Jermy explains why the apparent collapse of the Iran–US Memorandum of Understanding (MoU) has significant consequences for regional stability and global markets. He discusses Iran's strategic position, the limitations facing the United States and Israel, and why diplomacy may ultimately prove more effective than military escalation. The conversation also examines the global energy market, oil prices, sanctions on Russia and Iran, Europe's growing energy vulnerability, NATO's role in the Russia–Ukraine conflict, and whether the international system is entering a new geopolitical era shaped by competing great powers. Steve also shares insights from his latest work on the possibility of a future confrontation with Russia and explains why strategy, economics, energy, and warfare are now more interconnected than ever. If you enjoy thoughtful discussions on geopolitics, military strategy, international relations, and global energy, don't forget to subscribe and share this episode. WHAT YOU'LL DISCOVER IN THIS EPISODE Steve Jermy's military and strategic background Why the Iran–US MoU appears to be collapsing Iran's negotiating strategy and regional leverage The strategic importance of the Strait of Hormuz Why military escalation carries enormous risks Oil prices, sanctions, and global energy security Europe's growing energy vulnerability NATO, Russia, and the Ukraine conflict China's role in the emerging world order Donald Trump's foreign policy challenges Why diplomacy may ultimately prevail over war CHAPTERS 00:00 – Introduction & Steve Jermy Joins the Podcast 01:20 – Military Career, Royal Navy & Strategic Thinking 02:40 – From Naval Commander to Energy Industry CEO 05:30 – Lessons from Military Strategy & Afghanistan 13:00 – Iran–US MoU and Why Negotiations Are Unraveling 16:00 – Why Iran Holds Strategic Leverage 19:40 – Oil Markets, Energy Security & Global Commodities 22:30 – China, Strategic Reserves & Global Supply Chains 26:00 – Russia, Sanctions & Europe's Energy Crisis 29:30 – Trump's Strategy and America's Limited Military Options 34:40 – Could a Ground War Against Iran Succeed? 39:00 – Trump's Political Future & Midterm Elections 42:00 – Diplomacy vs Military Escalation 45:00 – Israel, Iran & Regional Security 48:00 – Europe, NATO & the Russia–Ukraine War 51:30 – NATO Expansion, Russian Red Lines & Strategic Miscalculations 54:20 – Steve Jermy's "The Coming War with Russia" Analysis 58:00 – Final Thoughts & Closing Remarks ABOUT STEVE JERMY Steve Jermy is a retired Royal Navy Commodore, former naval commander, offshore energy executive, strategist, geopolitical analyst, and author of Strategy for Action. During his military career, he served in the Falklands War, operations in Bosnia and Kosovo, and later as Strategy Director at the British Embassy in Afghanistan. Today he writes and consults on geopolitics, military strategy, economics, and energy. CONNECT WITH STEVE JERMY Substack: https://substack.com/@stevejermy Subscribe for in-depth conversations on geopolitics, military strategy, economics, diplomacy, history, energy, and international affairs. Hashtags #SteveJermy #Geopolitics #Iran #Russia #Ukraine #NATO #Energy #Oil #MilitaryStrategy #DonaldTrump #InternationalRelations #KianistanPodcast