How Trump turned Iran into a stationary bandit
Tehran’s new ability to charge tolls in the Gulf is a powerful bargaining chip
Tehran’s new ability to charge tolls in the Gulf is a powerful bargaining chip

Iranians fear Trump’s threats against “whole civilization” are part of an onslaught on fabric of nation

US president soothes markets but doubts on strategy and Tehran’s position persist

Tehran has a strong incentive to keep the conflict going

Formidable obstacles stand in the way of any diplomatic effort to end the war

Iran has been severely degraded but for Trump there are lessons to learn

Trump’s attack on Iran has served as a reminder of how interconnected the global economy remains