There are no visible exit ramps. There was a reason why oil prices strengthened last week. Seemingly unable to succeed on the military front, the US announced fierce economic sanctions against Iran and any other country that supports it. Should the pledged embargo be launched, oil supply from the region will fall.
The goals presumably remained the same, but the modus operandi is changing. Military adventures have not borne fruit, but economic warfare could result in the reopening of the Strait of Hormuz, or so the thinking in the US Administration goes. Its President announced crushing sanctions against Iran (without elaborating) and warned allies and foes alike of the consequences for any country that supports the Persian Gulf nation.
There is nothing new to report from the geopolitical hotspots, really. Traffic through the Strait of Hormuz remains limited, and the appetite for negotiating some kind of truce, or indeed any truce at all, is severely suppressed. The US President threatens ‘economic warfare’ on Iran and grave repercussions for anyone who supports it.
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