It continues the squeeze on China. It reopens markets for Venezuela. It makes the Gulf less dominant. It raises prices for American exports at the cost of domestic inflationary pressures.
Not all bad. Not all good either. Domestic pressure on the GOP in the mid-terms is the most likely problem. Fix the ballot counting system or we’re toast.
“It makes the Gulf less dominant.”
One factor that makes the Gulf “less dominant” is the infrastructure damage that will take years to repair. That’s not just damage to the Iranian side, but to the Arab side as well.