The Economist: Iran Braces for Economic War with America

Donald Trump’s May 8th pullout from the Iran nuclear deal – which had promised sanctions relief in exchange for reduction, conversion and inspections of its nuclear facilities – has disappointed and angered Iranian business leaders. Trump’s strategy shifted from containment to a full-on economic offensive. According to the Economist, the administration “has told firms worldwide that they have three to six months to cut ties with Iran or face sanctions.” As a result, Iranian oil exports have begun to fall. Maersk, the largest shipping line in the world, has cut orders for Iranian oil and South Korea has slashed oil imports from Iran by 40 percent. Meanwhile, in the wake of the nuclear deal’s collapse, Iranian President Hassan Rouhani may be struggling as hardliners angle for position. Rouhani’s critics “say his deal gave up a lot for little reward. With their grip on the judiciary, the security forces and some state concerns, they are squeezing him.” –YaleGlobal