[T]he risk is that unconditional sanctions relief could once again reinforce Iran’s external projection of power rather than stabilize its domestic economy.
The shift now underway is unlikely to take the form of a dramatic collapse of American power in the Gulf. It is more likely to be subtler and, for the region, more unsettling.
U.S. companies, importers and retailers will bear the initial costs which most economists expect to filter through the supply chain as a cost-push inflation.