This week’s escalation and threats by the US and Iran underscore how the relative restraint that characterized their past actions is gone and with it, the preexisting security architecture and veneer of regional stability. The regular targeting of military bases, energy infrastructure and shipping, as well as top-level assassinations, have become normalized. Iran’s attack on two Emirati oil tankers in Omani waters on Jul. 13 simply highlighted the serious risks for ships entering the Gulf, something almost unthinkable back in February. The rapid unraveling of the memorandum of understanding (MOU) signed by the US and Iran just a month ago shows how difficult it will be to restore the equilibrium.