As the U.S. pursues its "maximum pressure" strategy against Iran, vowing to bring the country's oil exports to zero, the IMF predicts the Iranian economy will shrink by at least six percent this year. Tensions and conflict continue throughout the region, both on land and sea, and further negotiations on the Iran nuclear deal appear unlikely for now. So, where is the situation heading? How is oil being used in the current power plays? And how can strategic rivalries in the region be managed and prevented from getting out of control?

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