Short of using nukes, the ultimate deterrent weapon of the Islamic Republic was the threat to close the Straits of Hormuz.

They have exercised their doomsday option and now it transpires they have no map of the minefield.: - Wretchard T. Cat

Though it caused economic hardship especially in Europe and Asia, the IR's ultimate weapon failed to bring down the world, could not prevent the destruction of its arsenal nor bring the Gulf states down to its knees.
If the US Navy clears the Straits, and as is probable, the Islamic Republic comes to terms, the path may be clear for 

• the revival of Lebanon, 
• the full re-opening of the Red Sea and 
• relative peace in Southwest Asia and the Levant.