Vance Heads to New Talks With Iran. At Stake: Peace and His Own Standing.
The vice president is again center stage, after abruptly leaving the first round of high-level Iranian peace talks without an agreement.
The vice president is again center stage, after abruptly leaving the first round of high-level Iranian peace talks without an agreement.
The gas-rich Gulf nation is in a state of “strategic shock” after the war dealt a serious blow to its economy, sending ripples around the world.
Iran’s government could emerge from the conflict with a blueprint to keep adversaries at bay, regardless of any restrictions on its nuclear program.
Analysts said energy and shipping companies would be reluctant to fully restore operations until they were confident that hostilities were over.
If tankers do not soon begin crossing the Strait of Hormuz, airlines in Europe may not have enough jet fuel to operate all of their flights.
In a thinly veiled critique of the war in Iran, China’s leader said the world could not risk reverting “to the law of the jungle.”
The conflict could also fuel another bout of inflation, according to the International Monetary Fund.
Oil markets shrugged it off, but the effort to hurt Iran could provoke retaliation that inflicts more damage on energy assets and the global economy.
The U.S. military has provided few details on how it might carry out President Trump’s orders as he seeks to pressure Tehran on a peace deal. But history and established practices offer some clues.
President Trump is trying to choke off the country’s lifeline with a blockade of the Strait of Hormuz. But the Iranians are betting that his tolerance for political pain is limited.