From the ipaper today:
“Wash. Rinse. Repeat. Just days after US President Donald Trump so eloquently threatened to “beat the f**king shit” out of Iran, he has again backed down at the last minute.
In the weeks after the war began on 28 February, Trump still had the power to move markets with his on-again, off-again pronouncements. But the news that he had decided to “cancel the attack” and give negotiations with the Iranians more time is unlikely to elicit more than a collective shrug by oil traders, let alone any drop in prices for struggling Americans.
Traders realised weeks ago that the President’s declarations are not worth the space on Truth Social that they are afforded. His Saturday night post was a classic of the genre.
“The U.S.A. is locked and loaded and ready to go against the Islamic Republic of Iran, at levels of Military Terror, Strength, and Power not seen since World War II,” Trump thundered. But then came an immediate corner turn. “Despite this, we have just been asked by Iran, and other Middle Eastern Countries, to hold off,” he announced, claiming – with a characteristic spelling error – that “the perimeters [sic] of a deal” had now been agreed.
“In fact, there is no indication that any breakthrough is at hand, or that a deal could emerge “rapidly”, as the President suggested. Instead, in a statement issued in Riyadh, the government of Saudi Arabia revealed that Crown Prince Mohammed bin Salman had strong-armed the President earlier on Saturday.”
“In what is reported to have been an unusually candid call with Trump, the Crown Prince, known as MBS, “stressed the need for the predominance of the language of dialogue to reduce escalation” – diplomatic-speak for “we told the President to knock it off”.
“Saudi Arabia’s message to Washington is becoming increasingly clear,” said analyst Danny Citrinowicz, a Non-Resident Fellow at the Atlantic Council, “if the United States launches major strikes against Iran’s energy infrastructure, Saudi Arabia and the Gulf states will likely bear the immediate consequences.”
“For Gulf leaders,” he added, “preserving regional stability has become a higher priority than pursuing a decisive confrontation with Tehran.””
“Iran’s retention of military capability to target its regional neighbours is leading to a sea change in their approach to the conflict. MBS – the leader accused by US intelligence of orchestrating the murder and dismemberment of US-based Saudi journalist Jamal Khashoggi in 2018 – now finds himself in the extraordinary position of being the voice of reason. On Saturday, he was the one to tell Trump that the White House no longer holds the cards to win the Iran conflict.
The Iranians are fully aware of these shifting dynamics. By enforcing the closure of the Strait of Hormuz and unleashing its Houthi proxies to launch pre-emptive attacks last week on Saudi Arabia from Iraqi territory in co-ordination with armed Iraqi groups, the regime in Tehran has signalled its resilience and its determination.
Last week also saw Trump belatedly concede that the US weapons stockpile is running low after five months of fruitless conflict and growing anxiety that hostilities could spiral beyond the Gulf.”
“Last weekend, Ukraine targeted an Iranian commercial vessel in the Caspian Sea that Kyiv claimed was carrying military equipment to Russia. In Riyadh and other Gulf capitals, minds are being concentrated by the possibility of an even wider conflict. Regional leaders also fear that Trump is insufficiently disciplined and patient to bring negotiations with Iran to a successful conclusion.
In the days ahead, much may again depend on discussions between Oman and Iran over the future of the Strait of Hormuz.
With Iran determined to charge either tolls or “service fees” for vessels passing through its waters, the Omanis have floated proposals for both countries to benefit financially from their oversight of the Strait. In May, Trump threatened to attack Oman – a US ally – if its leaders did not “behave” and abandon plans to charge their own fees on vessels transiting the strategic waterway.”
“Iran is bringing Trump only misery, with polling showing that just 28 per cent of the public approve of the President’s stewardship of the conflict, and a dismal 21 per cent of voters giving his handling of soaring petrol prices the thumbs-up.
It has been 17 months since Trump berated Ukrainian President Volodymyr Zelensky in the Oval Office, accusing him of lacking the ability to win his country’s war with Russia.
This weekend, Saudi Arabia’s leader delivered exactly the same message to Trump about Iran, with the added potency of it being true.”
Excerpt From
“Trump gambled everything on Iran - now he’s the weakest player of all”
Simon Marks
The i Paper
https://apple.news/AjbS16UjFTn-dwtP5M9u2wA
This material may be protected by copyright.