Cold War 2.0

When the Cold War ended more than two decades ago, the shadow of nuclear catastrophe lifted on both sides of the Iron Curtain. This year, that era of relative comfort could well draw to a close; alternatively, the West's efforts to prevent that from happening could trigger a crisis of such gravity that countless millions will be affected.

If that sounds like an alarmist prognosis, consider the situation in Iran. Despite an ever-tightening net of economic sanctions - not to mention a covert campaign of sabotage - Iran is drawing inexorably closer to achieving the ability to build nuclear weapons. At the last count, 6,208 centrifuges were enriching uranium inside a previously secret plant at Natanz, defying six United Nations resolutions which ban the regime in Tehran from operating a single such machine. Meanwhile, a further 412 centrifuges have been moved to another once-secret installation.

Iran's scientists may soon be able to present their country's obdurate and ruthless leaders with an invulnerable means of constructing a nuclear arsenal. As William Hague, the foreign secretary, warns in his interview with a newspaper, any such decision on the part of the regime would trigger a "new Cold War in the Middle East without, necessarily, all the safety mechanisms."

As Hague makes clear, the window to avoid this outcome is closing ... Yet destroying Iran's nuclear installations would trigger a war that could escalate into a regional conflagration, threatening the global economy by causing oil prices to soar. The risks attached to military action are such that no government presently favors this option: even Israel's official position remains that sanctions should still be given time to work.

- The Telegraph, London