Why Donald Trump's 'maximum pressure' tactic against Iran could backfire

At this point, the key factor preventing Tehran from striking back harder is primarily its desire to win the game of public perception

Middle East policymakers in Washington these days should take some advice from that noted diplomat, Bob Dylan.

His adage “When you ain’t got nothing, you got nothing to lose” is getting tested with the Trump administration’s “maximum pressure” sanctions regime on Iran. The outcome of this particular experiment could well determine the direction of oil prices as the US heads toward presidential elections next year.

As the recent attacks on oil tankers and a US unmanned drone demonstrate, in military terms it would be relatively easy for Iran to cause disruptions in the Strait of Hormuz, a bottleneck through which