Results for Tag: Iran
Iran’s strategy following the US’ withdrawal from the JCPOA has focused on two objectives. The first is to push back against the maximum pressure policy with the aim of proving its irrelevance in bringing Iran to the negotiating table on US terms. The second is to drive a wedge between the US and its regional allies, especially Iran’s Arab neighbours.
The imbalance of forces between the US and Iran all but assures Washington of military dominance over Iran. Tehran knows this, and the country can hardly want to face an invasion. Plus, the apparent failure of explosives in the two seaborne attacks does not do much for the reputation of the Iranian military. However, both the ramping up of military rhetoric and the spectre of a long-time enemy looming large plays well politically for both the Trump and Rouhani governments.
For Russia, extending its hand to the region might indeed be useful; for Saudi Arabia, the decision appears more pragmatic as its once go-to allies for economic cooperation have been the US and Europe. However, the Saudis have several reasons to no longer trust the West and to seek support elsewhere.
Considering the target and extent of the attack, oil prices have remained relatively stable. There could be well-founded concerns on the horizon, however, given the less than clear messaging on the damage caused to the Saudi facility and its ability to fulfil supply commitments. We could, in fact, see oil prices rise well above the norm while any other hits in oil-producing countries could tip the balance.