Mounting tensions between the US and Iran scuttled a second round of peace talks that were set to happen in Pakistan over the weekend.
US President Donald Trump called off his envoys’ trip to Islamabad after saying Iran “offered a lot, but not enough.”
Trump faces the choice of escalating the conflict, making major concessions to strike a deal, or continuing a stalemate in the Strait of Hormuz, The Wall Street Journal wrote.
The US’ strategy in the meantime is to ramp up economic pressure on Tehran.
Washington isn’t renewing a sanctions waiver allowing countries to purchase Iranian oil that’s already at sea.
The US Treasury secretary said Iran may have to start shuttering production within days.