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Why time is on Iran’s side

A global energy crisis is only just beginning. Political turmoil will follow.

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Iran has a cushion of income generated by its recent oil sales at inflated prices and can generate some revenue through gas exports by pipeline.

The longer the Strait of Hormuz is closed, the more the economic and political pressure on the US and its allies will mount.

PHOTO: REUTERS

Gideon Rachman

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US President Donald Trump claims to be a master of the “art of the deal”. But patient negotiations are not his style. After a weekend of failed peace talks with Iran, the US has decided to escalate again by announcing a blockade.

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