DUBAI šC Weeks of conflict have aggravated Iran's dire economic problems, ?risking calamity after the war, but the Islamic Republic looks able to survive a standoff in the Persian Gulf for now, despite a U.S. blockade that has cut off energy exports.
With major fighting paused by an April 8 truce, Iran is locked in a stalemate with the U.S. and Israel, with talks for a lasting ceasefire stalled while Tehran keeps the Strait of Hormuz shut and Washington blockades Iranian Gulf ports.
Despite bad damage to infrastructure and industries and an oil-export squeeze, Iran has plentiful internal supplies, steady trade with neighbors and only limited signs of immediate stress from state-revenue losses caused by the blockade. If U.S. President ?Donald Trump expects Iran to blink first in their game of economic chicken, with global inflation rising and midterm elections approaching, he may be waiting a while.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.