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.
This latest tactic is likely to backfire. Iran’s effective closure of the Strait of Hormuz has caused global energy prices to surge. But an American blockade is already causing oil and gas prices to go even higher. It also increases the risk that Iran will counter-escalate by striking energy infrastructure in the Gulf.
The Iranians believe that time is on their side in this confrontation and they are probably right. The longer the Strait of Hormuz is closed, the more the economic and political pressure on the US and its allies will mount. As a result, Iran’s negotiating hand is likely to be stronger — if and when peace talks resume.