Iran Faces Bleak Options as the U.S. Turns the Screws

The United States' campaign of "maximum pressure" against Iran has been no bluff. In announcing its intention to deprive Tehran of all oil revenue, Washington is moving into uncharted territory, as it previously offered sanctions waivers to importers of Iranian oil. So what does Iran do now? Until now, Tehran has adopted a pragmatic response to U.S. President Donald Trump's harsh stance, remaining within the Joint Comprehensive Plan of Action -- the Iran nuclear deal -- and avoiding other retaliation even if it hasn't benefited economically from maintaining its moderation. But given Iran's bleak economic prospects as a result of the United States' punishing line, Tehran's patience could soon wear thin. An Iranian retaliation in the form of renewed uranium enrichment or attacks on shipping would certainly invite a furious U.S. response, yet it's not clear if Washington's aggressive campaign would ever achieve the United States' ultimate goal: altering Iranian...