Global Risk Review – March 2026

The March Global Risk Review Report has been compiled by the Institute of Strategic Risk Management and aims to deliver concise, strategic analysis of key geopolitical, economic and humanitarian developments shaping global stability. A full version is available of the report at www. theisrm.org or by contacting services@theisrm.org. It has been compiled during the weekly ‘Global Risk Forum’ webinars hosted by the ISRM. These free to attend sessions are frequented by thought leaders in strategic risk from across the world.

This edition assesses key geopolitical developments, including the outbreak of war in the Middle East and Ukraine’s growing political stability and operational resilience amid ongoing conflict.

Key Messages:

U.S. – IRAN DIPLOMATIC CONFLICT

Indirect US –Iran talks mediated by Oman reported ‘significant progress’ with plans to resume technical discussions in Vienna. This ended with the US and Israel mounting a joint operation to attack Iran and its leadership on 28th February, resulting in Iran’s retaliatory attacks on other countries in the region leading to escalating regional conflicts. This has now led to significant increases in the price of oil and consequent global economic turmoil.

U.S. DOMESTIC TENSIONS: THE ISRAEL– PALESTINE CONFLICT DEEPENS SOCIETAL AND DIPLOMATIC POLARISATION

Heightened rhetoric and legal disputes illustrate widening divides within democratic societies and global alliances.

UK COUNTERTERRORISM DESIGNATIONS SPARK LEGAL AND POLITICAL DEBATE

The proscription of Palestine Action as a terrorist organisation raised questions about the boundaries between activism, national security and judicial neutrality.

SOUTHEAST ASIA FACES RISING POLITICAL AND GEO ECONOMIC RISK

Elections, constitutional changes and unresolved trade tensions contribute to instability across Thailand and Indonesia.

UKRAINE’S POLITICAL AND OPERATIONAL RESILIENCE

Ukraine shows strengthened national cohesion and improved operational readiness despite ongoing conflict.

LEADERSHIP CREDIBILITY UNDER SCRUTINY ACROSS EUROPE

Concerns grow over a gap between strategic vision and effective execution among European political leaders.

ENVIRONMENTAL DEGRADATION DRIVES LEGAL AND ECONOMIC UNCERTAINTY

Severe flooding and government asset seizures in Indonesia highlight the intersection of climate risk, governance and investor exposure.

ENVIRONMENTAL BOUNDARIES BREACH ELEVATES GLOBAL SYSTEMIC RISK

Exceeding seven of nine environmental thresholds threatens ecosystems, food security and geopolitical stability.

GOVERNANCE DISCONNECT INCREASES SYSTEMIC VULNERABILITY

Growing distance between institutions and populations contributes to fragmentation and long- term risk exposure.

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