Islamabad kept both sides talking even as missiles were being launched. That tenacity looks to have paid dividends in a way that could yet reshape the Middle East's power dynamics.
Since last May's brief yet dangerous military confrontation between two nuclear-armed powers, a tenuous calm has held. But should a new war erupt, the margin of error this time will be far slimmer.
With war closing the Strait of Hormuz, Islamabad has become both broker and bridge, mediating between rivals while keeping Beijing's overland trade routes alive
The country is particularly exposed to energy market mayhem and has urgently trimmed its fuel demands, as three emergency Saudi oil shipments help keep the lights on at home.
Public sentiment in Pakistan often mirrors wider reactions across the Muslim world, but its size, strategic location, and nuclear status amplify global consequences
The flare-up is no isolated episode. Rather, it is the most dangerous chapter in a fraught, decades-long relationship that began during the Soviet-Afghan War in the 1980s.
Legislation to fund the American military and intelligence services will include requirements that Israeli defence firms be involved in sensitive projects and that classified information be shared
Even if diplomatic progress continues, the Strait could be closed again. As a result, the geopolitical risk premium attached to Gulf energy exports is unlikely to disappear entirely.