Iran vs US: Who Can Hold Out Longer in the Economic War?
The uncertainty surrounding the end of the conflict between Iran and the United States (US) is increasingly pressuring the global economy. With stalled peace negotiations and US President Donald Trump not providing a clear deadline, a major question arises: who can endure longer in this war?
Several indicators suggest that Iran is in a relatively stronger position. Without needing to resort to large-scale military attacks, Tehran is considered to have achieved its main goal of pushing up oil prices. This surge in energy prices indirectly pressures the US to soften its stance in negotiations.
On the other hand, Trump continues to display confidence. “I have plenty of time, but Iran does not; time is running out! Time is not on their side!” he wrote on social media.
However, the dynamics on the ground show otherwise. Media close to the Iranian government have even begun discussing potential next targets, including strategic infrastructure such as underwater data cables in the Strait of Hormuz, a vital global trade route.
Threats are also extending to energy facilities in the Gulf region. Targets mentioned include the Ruwais refinery in the United Arab Emirates (UAE) and Abqaiq in Saudi Arabia, which is the world’s largest oil processing facility.
Although the US military strength is far superior, Iran is employing asymmetric strategies. Their fleet of small boats continues to disrupt shipping lanes around the Strait of Hormuz. This tactic is considered effective in the short term, though high-risk if the conflict drags on.
Meanwhile, Trump’s previously aggressive rhetoric is beginning to subside. His claims of an almost-reached agreement were refuted by Iran’s Parliament Speaker, Mohammad Bagher Ghalibaf. He even bluntly called Trump a “liar.”
Tensions are rising further after Iran absent itself from talks in Islamabad. At the same time, the US military is reported to have intercepted more than 30 ships since imposing a blockade on Iranian ports.
However, Iran continues to show resistance. At least five ships were reported attacked in that strategic trade route. Ghalibaf also reaffirmed his country’s position.
“The enemy has been strategically defeated,” he stated in his latest speech, as quoted by CNN International on Friday (24/4/2026).
Iran is also reverting to its characteristic diplomatic strategy of moving slowly but surely. They reject negotiations under pressure while keeping room for behind-the-scenes manoeuvres.
“We do not accept negotiations under the shadow of threats,” Ghalibaf wrote.
For Iran, diplomacy is not merely open negotiations but an art of reading situations and gaining advantages without appearing to beg. One of the next targets is the lifting of the US blockade in the Strait of Hormuz, a demand that has so far been flatly rejected by Trump.
Amid the diplomatic impasse, global markets are the clearest reflection of this conflict. This is evident from the movement in oil prices and the escalating volatility in the world economy.