Iran: will economic pain force the regime to capitulate?
The US naval blockade that has now been in place for more than 100 days is imposing severe pain on Iran’s economy, with the rial tumbling and inflation at close to 90% y/y. But the extent to which this affects Iran’s negotiating position depends on which faction of the regime is in the ascendency as well as the degree of control that Iran can exert over the Strait of Hormuz.
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