Energy and Economics

The Persian Gulf is more crucial in oil terms, but if hostilities expand to the Red Sea, Iran could gain extra leverage against its adversaries on energy and trade matters.

The public’s demands are just and their patience is all but gone, so Baghdad needs to get on with the hard work of opening up the economy and providing critical services before the violence spirals out of control.

Three experts discuss Washington’s potential reaction, which will have powerful implications not only in the Gulf states, but everywhere that America and its allies face off against Iran and its proxies, from Iraq to Lebanon to Gaza.

Regardless of the Hormuz initiative's supposedly peaceful intent, foreign officials should be careful not to give Tehran any rights in the strategic waterway that don’t have to be given.

Despite diluting certain commonalities with Europe and Washington over the past decade, Ankara still relies on the West in the trade, investment, and security realms.

Emboldened by their success in attacking Gulf and U.S. interests with relative impunity, Iranian leaders are now aiming to disgrace the Saudi royal family and foster Trump’s defeat in the 2020 election.

The best way to counter Iran’s asymmetric strategy in Saudi Arabia and elsewhere is a U.S. gray zone strategy, which can help manage escalation and buy time for the administration’s pressure policy to work.

U.S. pressure has put Iran in a corner economically but not politically or militarily, so the Supreme Leader seems to believe there is little to lose unless Washington shows it will ease sanctions or launch strikes.

So far, Tehran appears to have judged quite well what it can get away with, a track record that will likely give Riyadh pause as it considers its response.