US EditionWith World Economy in Chokehold, Iran Gets Trump to Accept Terms & Beat a Retreat
Trump accepted Iran’s 10-point proposal after oil prices surged and global supply fears spread, as analysts said the Strait of Hormuz gave Tehran major leverage.
- On Tuesday, President Donald Trump accepted Iran's 10-point proposal and agreed to a two-week ceasefire to end hostilities in West Asia. He claimed the United States had "already met and exceeded all military objectives."
- Iran had effectively blockaded the Strait of Hormuz for over six weeks, cutting off 20-25 per cent of global oil and gas supplies. Tehran used this control to wage an "economic war," with at least one vessel paying $2 million in transit fees.
- Crude oil prices plunged 15-20% on Wednesday, retreating from Dated Brent's record $144 a barrel reached on Tuesday. Petrol in the United States neared $5 a gallon, causing catastrophic economic contraction for Gulf allies.
- Despite the truce, Iran reportedly halted traffic again after Israel attacked Lebanon on Wednesday, as military forces maintain unique power over global energy markets. Analysts caution significant hurdles remain to a lasting peace.
- Formalizing paid access could help satisfy Iran's demand for economic compensation, with proposals suggesting Oman act as a "neutral, non-sanctioned intermediary" for payments. Commercial shipping companies are expected to accept fees more quickly than policymakers.
17 Articles
17 Articles
Analysis by Hanna Ziady, CNN: US President Donald Trump has hailed the fragile two-week ceasefire between the United States and Iran as a “total and complete victory.” But the terms of that ceasefire highlight how Tehran has used its control of the Strait of Hormuz to gain enormous influence over the global economy. That the ceasefire hinges on Iran agreeing to reopen this vital waterway is an implicit acknowledgment of its power over one of the…
Iran is holding the world economy hostage. Trump’s truce proves its leverage
President Donald Trump has cast a fragile two-week ceasefire between the United States and Iran as a “total and complete victory.” But the terms of the truce highlight how Iran has used control of the Strait of Hormuz to gain enormous leverage over the global economy.
Trump’s ceasefire deal with Iran
In this “ask ian,” Ian Bremmer breaks down the newly announced two-week ceasefire between the US and Iran and whether it can hold.Ian explains that while Iran continues to exert influence over the Strait of Hormuz, the ceasefire means less tail risk around big infrastructure in the Gulf getting destroyed, tankers getting hit, and the like. Still, he warns that "we are clearly very far from an agreement between the United States and Iran to joint…
der Standard AT
der Standard DEIran has been able to turn its control of the strait into political capital and now knows that it is able to trigger a global recession
The world was still on the brink of a new war – now everything is different: US President Donald Trump surprisingly stops a planned attack on Iran and announces a temporary ceasefire. However, while Washington continues to de-escalate, Tehran openly mocks the sudden change of course as a "degrading retreat."
With world economy in chokehold, Iran gets Trump to accept terms & beat a retreat
As Iran held the world economy in a chokehold at the Strait of Hormuz, US President Donald Trump accepted the Iran’s terms to beat a retreat from the war in West Asia. In Tehran, this is being viewed as a strategic defeat of the US but masked in a face-saving exit.
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