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Opinion
David Fickling

Why ‘Maximum Pressure’ on Iran Could Backfire

The outcome could determine the direction of oil prices as the U.S. heads toward elections next year.

It could get ugly.

It could get ugly.

Photographer: Ali Mohammadi/Bloomberg

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 U.S. heads toward presidential elections next year.