Iran is digging in against new US strikes and Trump's threats to seize its oil, with the view from Tehran being that an American invasion would actually play into Iran's hands.

• Trump threatened fresh strikes and said the US would take Iran's Kharg Island oil terminal and control its oil and gas, like it did with Venezuela.
• The Iranian view: these threats only unite the country and harden its refusal to make a soft deal.
• Iran wants negotiations done on paper through Pakistan, not face-to-face, because it expects the US to cheat on any verbal promises — as it says happened under Obama.
• A near-finalized deal reportedly exists, but Trump keeps publicly backtracking on returning frozen Iranian assets and lifting sanctions, allegedly under Israeli pressure.
• Iran claims it has underground missile and drone bases and is prepared for a ground war — its goal is to make any invasion so costly the US never tries again.

Outlook: More strikes and tough talk are likely near-term, but both sides appear close to a deal even as Iran refuses to soften its terms.