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.
Dignity and ego play a more important role in shaping the outcome of the Iranian conflict than pragmatism. There is no appetite, or, to rephrase it, there is a disappointing reluctance on both sides, to resume negotiations, which might just nudge the adversaries towards a tentative armistice.
Prepare yourself for the long game. Can there really be any other conclusion than this war will enter the ‘never-ending’ category after Donald Trump spoke at the weekend? Stumping (such a marvellous American term) for votes at a political rally in the suburbs of New York, the US President in his normal unabashed style paid no reference to his promise of a short, sharp war or to his famed ‘drill, baby drill’ and the promise of lower oil prices.
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