With tensions rising, are we heading toward conflict in the Gulf?
Since the Trump administration refused to extend waivers for Iranian oil exports expiring on May 2nd, the U.S. and Iran have engaged in a cycle of escalating threats and actions. The U.S. has further ratcheted up its “maximum pressure” campaign by adding new sanctions, and in the last few days, the turmoil has deepened as the region absorbed reports of mysterious sabotage against tankers in Emirati ports, apparent Houthi drone attacks on Saudi oil facilities, and news that the Trump administration is contemplating substantial deployments of U.S. military personnel to the region.