PDB Situation Report | April 25th, 2026: Iran Talks Collapse—What Happens Next?

In this episode of The PDB Situation Report:

• First up—a rocky week in the Iran conflict, with failed negotiations, rising aggression in the Strait of Hormuz, and a fragile ceasefire still holding—for now. Former White House National Security Council official Richard Goldberg joins us to break down what’s happening behind the scenes.
• Later in the show—a new warning that the U.S. is burning through critical munitions faster than they can be replaced, raising serious questions about military readiness if another conflict erupts. Open Source Intelligence Analyst Ryan McBeth joins us for more.

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