A source for CNN: The chances of renewed war with Iran are declining after the defeat of the Republicans

(CNN) - A regional source told CNN on Thursday that the risk of renewed war with Iran has decreased following the defeat of the Republican Party in the US midterm elections, warning at the same time that the possibility of escalation still exists.

The source explained that before the elections, the possibility of a confrontation between Washington and Tehran was “very high,” but it is no longer as imminent as it was, although it is still a possibility that cannot be ruled out.

The source added that the major defeat suffered by US President Donald Trump's party in the midterm elections increased the chances of resorting to the diplomatic path instead of the military option, noting that Trump still has room to act until January, when the newly elected Congress takes office.

The source expected the Iranians to be strict in their demands until then, adding that the main question is whether the Democrats oppose war, sanctions, or both. He pointed out that economic pressures on Iran may continue even as the desire to go to war with it declines.

The source said that the Democrats, when they assume the majority in Congress in January, are also expected to initiate intensive efforts to investigate the Trump administration’s movements over the past two years, including following up on the Trump family’s financial transactions, adding that the Gulf states will inevitably find themselves a party to these investigations.