Photo: Christopher Pike/Getty Images
Industry has always played an essential supporting role in war, but companies now find themselves on the front lines. Iran understood this in March and April 2026. It chose to threaten not just military bases but data centers across the Gulf. In today’s interconnected, just-in-time world, companies’ missions have not changed—but war has.
How should modern companies think about this new world of warfare? How should they evaluate risk when choosing whether to assist in a conflict? And what protections can—and should—government provide? This report offers a decision guide to help companies navigate the fog of conflict. It walks the C-suite and the board through a set of questions that identify key knowledge gaps and then establishes a risk evaluation framework and risk mitigation strategies. The report concludes with recommendations for the U.S. president on how the White House should assess and reduce the risks facing companies caught in conflict.
This report is made possible by project support from the International Committee of the Red Cross and general support.
Commentary by Emily Harding — March 19, 2026
Commentary by Emily Harding and Cynthia R. Cook — July 9, 2026
Commentary by Nikita Shah and Emily Harding — August 20, 2026