The Department of War announced a nearly $21 billion, five-year contract to produce Advanced Medium-Range Air-to-Air Missiles (AMRAAM). While AIM-120 missiles are designed for warplanes in air-to-air combat, they can also be used as ground-launched missile interceptors.
The Pentagon announced the contract on Monday. “We are working across the defense industry to ramp production and build the Arsenal of Freedom,” said Under Secretary of War for Acquisition and Sustainment Michael P. Duffey. “This award strengthens our ability to equip the Joint Force and our allies with a proven air-to-air capability, ensuring our warfighters maintain a decisive advantage.”
Raytheon, or RTX, is the primary beneficiary of the contract. The deal was issued as an undefinitized contract action, meaning details of the cost and number of missiles could change. Under the contract, Raytheon will produce up to 1,900 AMRAAM missiles annually.
The AMRAAM, or AIM-120, missiles are designed to be fired from America’s fleet of fighter jets. There are multiple variants of the AIM-120 missile, and the Pentagon announcement did not disclose how many of each variant Raytheon has been contracted to produce.
While the AIM-120 is primarily an air-to-air missile, it can also be fired from the National Advanced Surface-to-Air Missile System (NASAMS), a ground-based air defense system. The AMRAAM-ER is an extended-range variant designed specifically for ground-based air defense.
Ukraine has relied heavily on the NASAMS system for air defenses. In April, the Center for Strategic and International Studies estimated the US has between 4,000 and 4,500 AIM-120 missiles in its stockpile. It noted that the US could use the AIM-120s as a cheaper option to down Iranian drones compared to Patriot or Standard Missiles. However, the AIM-120s still cost $1 million each.
Iran threatened to attack energy infrastructure across the Middle East if its security isn't guaranteed as it ratcheted up its rhetoric while waiting for the United States to officially respond to a plan Tehran says would reopen the Strait of Hormuz.
Iran’s Islamic Revolutionary Guard Corps (IRGC) released a letter on 29 September addressing the US population – urging it to “force” Washington to “distance” itself from Israel, and expressing a readiness for “coexistence and peace,” while also vowing to continue fighting for Iran’s rights.
“Our purpose in sending a letter to the US people goes beyond media propaganda and creating familiarity with Iran’s reasoning. This is not a short-term or purely promotional move … Choosing a ‘letter’ as a tool to convey our message directly and clearly was a method selected based on the realities on the ground,” said IRGC spokesman Hossein Mohebbi.
“The countries neighboring or located near the US, whether along its land or maritime borders, do not possess the military and security capabilities to pose a serious threat to the US,” he added following the letter’s release, urging US citizens to question Washington’s military expansionism and the presence of hundreds of its military bases across the globe.
Mohebbi went on to ask, “What is the purpose of deploying 800 US military bases around the world?”
The letter itself poses several questions to the US people, while urging them to “see through” the official claims made by Washington.
This included US, as well as Israeli, claims regarding the Iranian nuclear program.
“For 25 years … the [US] claimed that Iran is only … months or weeks away from building a nuclear bomb … If this were true, why has Iran not yet gone through with its plan to build a bomb? If Iran was only a little while away from making the bomb 25 years ago, when it was far less technologically advanced … then it should possess dozens of nuclear bombs today.”
It also pointed to US intelligence reports acknowledging that Tehran is not looking to weaponize its program.
Additionally, it slams US official claims and declares to the US people that Washington’s bases were “decimated” throughout the war.
This has been confirmed through satellite imagery and western media, not just Iranian outlets.
Tehran, through the letter, also repeated its longstanding declarations to the people of the US that Iran is opposed to their government and not them themselves.
“The people who burn the American flag are not hostile to the American people; it is the oppression and aggression of the American government that they are denouncing,” the letter reads.
“We can live together in peaceful coexistence. Remove from power the evil, deceitful, and violent politicians who are responsible for America’s current state. Entrust your affairs to the wise, not the wily. Make sure your politicians understand that the world has changed,” it adds.
The letter also urges the US people to “distance itself from Israel, as the occupiers of Palestine will, sooner or later, have to leave the land they occupy and return to their countries of origin.”
The letter stresses that Tehran will “continue fighting” despite “all the hardships that our enemies impose on us.”
It comes as reports indicate Washington is planning to renew bombing against Iran. Tehran has vowed much wider retaliation than before in the event of such actions.
Students at Tehran's Allameh Tabatabaei University protested against the mandatory dress code for women that make the wearing of head scarves, or hijabs, compulsory.
President Trump on Monday denied a report from Axios that said he had offered Iran sanctions relief in exchange for nuclear concessions, calling it a “hoax.” “Axios just released a story that ‘Trump’ offered Sanctions Relief and Frozen Funds to Iran. This is untrue. I offered them NOTHING!” he wrote on Truth Social. “Axios’ story, […]
Iran has warned the United Nations that US President Donald Trump’s threats to “annihilate” the Islamic Republic constitute a grave development, particularly because the remarks were made from the podium of the UN General Assembly.
Gholamhossein Darzi, Iran’s ambassador and chargé d’affaires to the UN in New York, raised the issue in a September 27 letter addressed to UN Secretary-General António Guterres and the President of the Security Council, Jérôme Bonnafont.
Darzi’s letter came in response to Trump’s September 22 address to the 81st session of the UN General Assembly, during which the US president said he could “annihilate the Islamic Republic” if no agreement was reached with Tehran. The wording appears in the official UN transcript of Trump’s speech.
Iran says threats made at UN carry wider implications
Darzi said Trump’s remarks were neither isolated nor ambiguous, arguing that they form part of a continuing pattern of public threats against Iran by the president of a permanent member of the UN Security Council.
“These repulsive statements are not ambiguous remarks or isolated utterances. They are rather part of a sustained pattern of public threats against Iran by the head of a permanent member state of the Security Council,” Darzi wrote.
“This latest development is particularly grave and alarming because the United Nations General Assembly is not a venue for threats of annihilation,” he added.
The Iranian envoy stressed that the General Assembly serves as the UN’s principal universal forum and was established to promote international peace, cooperation, and relations among states.
In the letter, Darzi referred to several previous statements by Trump that he said demonstrated a broader pattern of threats against Iran.
He cited remarks on March 22 in which Trump threatened to “hit and obliterate” Iranian power plants, followed by statements on March 30 threatening destruction of Iran’s energy facilities and other vital infrastructure, including desalination facilities.
Iran calls for UN response to threats
Darzi argued that the issue extends beyond political rhetoric, saying an explicit threat against a sovereign UN member state raises questions concerning the UN Charter, international peace and security, and the prohibition on the threat or use of force.
He further linked the latest remarks to ongoing US-Israeli aggression against its sovereignty and territorial integrity since February 28, as well as attacks that targeted civilians and civilian infrastructure.
“The issue before the Organization is therefore not merely one of political rhetoric,” Darzi wrote, arguing that failure by the international community to respond could normalize threats against entire nations and undermine the authority of the UN Charter.
The UN has itself emphasized the need for restraint and adherence to international law during the current high-level week. In his September 22 opening address, Secretary-General António Guterres said the principle that force cannot determine whose lives and rights matter was under “profound strain” and called on world leaders to use the week for de-escalation and dialogue.
Iran reiterates right to self-defense
Darzi said Iran would continue to defend itself against any further aggression and reserved its “full and unimpeachable right to self-defense.”
He also said Tehran reserves the right to pursue legal avenues to seek accountability from states and individuals it holds responsible for losses and damage inflicted on the Iranian people.
“Regardless of whether these threats are merely delusional fantasies, they will, as in the past, never materialize or be put into action in the face of the resolute resistance and determined defense of the Iranian people and armed forces,” Darzi wrote.
The Iranian envoy requested that his letter be circulated as an official document of the UN Security Council.
On Sunday, NBC News reported that Marines were injured during an Iranian cruise missile attack while transiting the Strait of Hormuz on Sept. 14. The network’s sources said the Marines were not on a U.S. Navy ship, but they did not identify which vessel they were on. However, a former Royal Mail vessel that at one point was being converted into a floating armory stands out as a strong possibility.
While much remains unclear about the Sept. 14 incident, there was only one vessel known to have been struck that day, according to the United Kingdom Maritime Trade Operations (UKMTO) and a maritime security official we spoke with. The ship was eventually identified by several maritime media outlets as the M/V St. Helena. Again, the St. Helena’s involvement remains unconfirmed, but the ship’s interesting background is of particular note.
The St Helena logistics ship during the Saudi Arabia on March 30, 2021. Photo by Colin McMaster
“Eight U.S. Marines were injured two weeks ago when an Iranian cruise missile attacked the ship they were operating on in the Strait of Hormuz,” NBC reported, citing three U.S. officials. “The Marines were not seriously injured, but they sustained smoke inhalation and possibly traumatic brain injuries, as they had symptoms of concussions, such as headaches, the officials said.”
“The Marines, seven of them enlisted and one officer, all returned to duty soon after the Sept. 14 attack, the U.S. officials said,” according to the network. “The officials said the Marines were operating as part of a battalion landing team during the Iranian anti-ship cruise missile attack.”
TWZ cannot independently confirm that Marines were on board the St. Helena or that they were injured. We reached out to the Pentagon and U.S. Central Command (CENTCOM) for more information. The Pentagon referred us to CENTCOM, and CENTCOM declined comment.
The incident took place amid an uneasy truce between Iran and the U.S. broken up by sporadic Iranian attacks on ships transiting the Strait of Hormuz. At the same time, the U.S. military is enforcing a blockade on Iranian ships, during which it has struck several for trying to bypass that effort as well as in retaliation for Iranian attacks on shipping. Negotiations between Washington and Iran have ebbed and flowed, and U.S. President Donald Trump is once again mulling a choice between continuing talks or renewing large-scale attacks.
As we noted earlier in this piece, after the vessel was struck, several maritime industry trade publications identified it as the St. Helena.
“Iran has attacked a historic former British Royal Mail passenger ship in the Strait of Hormuz,” TradeWinds News reported on Sept. 15, a day after the incident. “Maritime security sources identify the 6,800-gt St Helena (built 1989) as the latest vessel to be hit by an ‘unknown projectile’ in the war-torn waterway. The attack was reported late on Monday, according to UK Maritime Trade Operations, which cited a ‘verified source’ for the incident without identifying the vessel.”
Aerial view of the St Helena transport ship in the sea off Porto Pino during the Sardinia on July 4, 2022. Photo by Sam Bagnall
“UKMTO has received a time late report of an incident within the Strait of Hormuz,” the organization reported on Sept. 15, citing an incident that took place a day earlier. “A verified source has reported that a vessel has been struck by an unknown projectile.”
“There is no reported damage or environmental impact,” UKMTO added. “Authorities are investigating.”
According to Lloyd’s List, the ship was being operated by the Ambrey maritime security firm at the time it was struck. Ambrey declined to comment.
Shipping expert Sal Mercogliano and open-source investigator Tom Bike were among those suggesting the St. Helena could have been the vessel at the heart of the NBC report.
So piecing together the evidence it appears that the US may have converted St Helena into a armed merchant cruiser.
The Marines looked at putting Armed Guards on board commercial ships three years ago as reported by @USNINews.
Exactly what the St. Helena was doing at the time it was struck is unclear; however, the ship has had a very unusual past.
The vessel entered into service in 1990 and “sailed between Cape Town, South Africa and Saint Helena and Ascension Islands, carrying both passengers and cargo, some of which was Royal Mail, earning her the rare RMS designation,” according to Cruise Arabia and Africa.
The St. Helena was Britain’s last working postal ship, according to Maritime Executive. After it was retired in 2018 because it was no longer needed for that function, things got really interesting.
Two different organizations took over the vessel, including, as we noted earlier in this story, a company that was planning to use it as a floating armory in the Middle East.
“Renamed MNG Tahiti, the 103-meter (340-foot) ship is being readied by her new owner MNG Maritime to become a floating armory working in the Gulf of Oman,” Maritime Executive wrote on April 22, 2018. “She will deliver security guards and weapons to vessels sailing through the region and is expected to be operational in her new role in the next few months.”
It is unclear what happened to that plan. However, two years later, an off-road racing series called Extreme E said that it “secured exclusive use of the former Royal Mail ship in 2018.” After that, the ship underwent “an extensive refurbishment process, which has included total overhaul of steelwork, engines, generators, propellers, interior and cabin space, and more, making it not only fit for purpose, but also as efficient as possible ahead of its new mission.”
Aerial view of the St Helena transport ship in the sea off Porto Pino during the Sardinia on July 4, 2022. Photo by Sam Bagnall
The ship was “specifically designed to transport all the infrastructure and equipment the Extreme E needs for their race weekends,” the organization stated. The plan was to have the ship serve “as its freight and logistics hub due to her versatility and ability to carry and unload a mixture of cargo, like all 10 of the championship’s ODYSSEY 21’s [electric off-road racecar], as well as team members and guests. This was also fit with a Science Laboratory so research can be conducted enroute to the race locations.”
On Sept. 17, 2024, the St. Helena was put up for sale, according to Horizon Ship Brokers. The current ownership is unclear. We reached out to Horizon Ship Brokers for more details.
Horizon Ship Brokers
Last year, the saga of the St. Helena took a new turn. A company called Terra Nova Expeditions chartered the vessel for Antarctic cruises, but those plans were scrubbed last month because the vessel was stuck in the Persian Gulf and was no longer available for the Antarctic sailing season.
While we can’t confirm that Marines were onboard when St. Helena was hit, Marines have been training for this exact mission set. USNI News reported in 2023 that a “force of 100 Marines, newly trained by Navy personnel,” stood ready “to respond, if ordered, to provide armed security aboard foreign commercial ships transiting the Strait of Hormuz.”
Those Marines were members of the 26th Marine Expeditionary Unit (MEU) embarked on the three-ship Bataan Amphibious Ready Group (ARG), USNI added at the time.
It is unclear if those plans are still in place and if Marines in the region have actually been ordered to provide armed security for foreign vessels sailing through or near the strait. Regardless, Marines could be quickly trained to take on this mission set and have drilled for ship boarding and searches for years, especially special operations and specially-tasked units. CENTCOM declined to comment when we asked if there are U.S. personnel embarking on commercial ships transiting the Strait of Hormuz.
At the same time, it is possible that the unique attributes of St. Helena made it a convenient host ship for sea base operations for U.S. forces in the region specifically for this crisis. Adapting commercial vessels for exactly this purpose has a long history around the Strait of Hormuz, as it was a central facet of the Tanker Wars during the 1980s, that saw U.S. forces operate from barges in the region. Today, commercial vessels remarkably similar to St. Helena operate in similar roles, especially in support of special operations and interdiction operations.
The special mission ship U.S. Motor Vessel Kellie Chouest steams in the Caribbean Sea while participating in a passing exercise (PASSEX), with the Dominican Republic Navy and USS Billings (LCS 15) Oct. 24, 2021. Kellie Chouest is deployed to the U.S. 4th Fleet area of operations to support Joint Interagency Task Force South’s mission, which includes counter-illicit drug trafficking missions in the Caribbean and Eastern Pacific. Photo by Petty Officer 2nd Class Austin C
Once again, we have no idea what the ship’s mission was at the time of the incident and if Marines were simply helping it transit safely out of the Persian Gulf or something more, but the attack did expose the fact that individual Marines are more involved with activities in this tumultuous body of water than it may seem.
Iraq’s Ambassador to Tehran, Yasser Abdul-Zahra al-Hajjaj, announced that Najaf International Airport will reopen to Iranian flights within 24 hours, according to the Iraqi News Agency.
Al-Hajjaj confirmed the airport will resume receiving flights from Iran within the stated timeframe.
The suspension of Iranian flights to and from Iraqi airports, particularly Najaf International Airport, had triggered a wave of condemnation from official, factional, and religious authorities in Iraq. They called for the decision to be reversed, rejecting US dictates.
Iran submits formal complaint to ICAO over US aviation restrictions
Meanwhile, Iran has submitted a formal complaint to the International Civil Aviation Organization (ICAO) regarding US restrictions imposed on Iran’s aviation sector, the head of Iran’s Civil Aviation Organization, Abouzar Shiroudi, announced on Monday.
Shiroudi said the organization held consultations with the Ministry of Foreign Affairs before filing the complaint, as part of efforts aimed at restoring air routes. In remarks carried by the Iranian news agency IRNA, he said, “It is necessary to use diplomatic and legal potential to protect the rights of the country’s aviation sector.”
He added that “Iran’s Civil Aviation Organization, using all legal tools and in close coordination with the country’s diplomatic apparatus, prioritizes the follow-up of necessary measures to remove obstacles and resume all flights on routes that previously operated.”
The remarks follow US Treasury Secretary Scott Bessent’s announcement on September 21 that Iranian airlines “will effectively be forced to cease operations as of September 23, due to secondary sanctions imposed on aviation service providers.”
Nearly 466 days ago, just seven days into the unprovoked and illegal US-backed Israeli military aggression against Iran, The Economist provocatively placed a torn Iranian flag on its cover and asked: “How will this end?”
The image was widely interpreted as a metaphor for the possible collapse or fragmentation of the Islamic Republic in the face of overwhelming military force.
At the time, the narrative surrounding Iran was dominated by predictions of its imminent defeat, the weakening of its leadership, and even the possible collapse of the Islamic Republic under the weight of an aggression that came amid Iran-US indirect nuclear talks.
The article went on to ask whether what it described as Israel’s first war against Iran “will also be the last,” or whether it would “lead to a series of Iran-Israel wars that mire” West Asia in years, if not decades, of further violence.
Written before the United States directly joined the war of aggression by illegally bombing Iran’s Fordow, Natanz, and Isfahan nuclear facilities on June 22, the article also suggested that Washington should move beyond “merely defending Israel and deterring Iran” and join the occupying regime in attacking Iran’s peaceful nuclear program.
Yet even then, The Economist warned that such a war could spiral into a broader regional war, sending energy prices soaring by targeting Saudi Arabia’s oil infrastructure or blocking the Strait of Hormuz, a vital artery for global energy supplies.
Iran, however, did not turn the war into a regional war at that stage, nor did it close the Strait of Hormuz. It retaliated decisively and inflicted massive damage on the Zionist regime.
Following a powerful wave of retaliatory strikes against Israeli-occupied territories, the Islamic Republic demonstrated that it retained the ability to impose high costs on its adversaries.
After 12 days of war, Israel and the United States ultimately agreed to a ceasefire. The confrontation and US hostility, however, were far from over.
On February 1, the martyred Leader of the Islamic Revolution, Ayatollah Seyyed Ali Khamenei, warned that any new war initiated by the United States against Iran would inevitably become a regional war, engulfing all countries across the region.
Less than a month later, on February 28, Washington and Tel Aviv launched a second round of military aggression against Iran, again in the middle of nuclear diplomacy.
On the very first day, the United States and Israel assassinated Iran’s Leader and several senior commanders, apparently calculating that “decapitating” the country’s leadership would pave the way for the rapid collapse of the Islamic Republic and the so-called “regime change.”
That calculation, however, once again proved wrong.
Iranian armed forces mounted a sustained and forceful response, launching wave after wave of retaliatory strikes against Israeli-occupied territories and US military bases across the region.
Far from collapsing under the pressure, Iran demonstrated its capacity to absorb the initial shock, reorganize its command structure, and continue fighting on multiple fronts.
The war eventually reached the Strait of Hormuz, as Iran asserted its control over the strategic waterway, leading to severe disruption in global energy markets and exposing the vulnerability of one of the world’s most strategically important chokepoints.
After 40 days of war, the United States and Israel were once again compelled to accept a ceasefire. This time, the Trump administration even agreed to an Iranian proposal to end the imposed war.
The outcome was a striking departure from the expectations that had accompanied the opening hours of the aggression: instead of so-called “regime change,” Washington and Tel Aviv found themselves confronting an Iran that had endured the assassination of its senior leadership, absorbed unprecedented attacks and continued to resist and inflict blows on the enemy.
Since the April 8 ceasefire, exchanges of fire have continued intermittently, while the Strait of Hormuz has remained largely closed to hostile vessels.
Having failed to achieve its objectives through military means, Washington has increasingly turned to economic pressure, imposing new sanctions and pursuing a naval and aerial blockade against Iran. Yet the Islamic Republic has continued to withstand the pressure.
Also, despite sanctions, threats, political pressure and military aggression, Tehran has maintained that the Strait of Hormuz will only be reopened once the United States ends the imposed war on all fronts.
And now, more than 15 months after that torn Iranian flag appeared on its cover, The Economist has returned with an image that could hardly be more different.
Gone is the question of how Iran will end. Instead, the magazine has placed a new question at the center of its latest cover: “WHEN AMERICA WALKS AWAY.”
The change in imagery reflects a striking shift in the narrative. In June 2025, the focus was on Iran’s survival. Today, the question being raised is about the future of American power in West Asia.
But the transformation in the narrative is not limited to the language used on The Economist’s covers.
Over the past 15 months, the war has also produced a growing record of military, financial and strategic costs for the United States and its military-industrial complex.
Washington launched the war on Iran with many ambitious objectives, including crippling Iran’s nuclear and missile capabilities in order to undermine and weaken the Islamic Republic.
Yet months of war have instead left the United States facing tens of billions of dollars in expenses, damaged military facilities across the region, depleted stocks of some of its most sophisticated interceptors and other munitions, and casualties among its service members.
The following figures and assessments, many of them coming from US government agencies, American media outlets and Western think tanks, offer a picture of the price Washington has paid for the war — and of the widening gap between the objectives announced at its outset and the situation that has emerged months later.
$43.6 billion — and the bill is still rising
On September 18, The Washington Post reported that the US Central Command (CENTCOM) had estimated the cost of the war at $43.6 billion as of early September.
The figure included $28 billion to replace munitions expended during the war on Iran and more than $4.3 billion for equipment lost or damaged. The breakdown also put Air Force operating costs at more than $6.6 billion, Navy costs at about $2.2 billion, and Army costs at roughly $1.6 billion.
Crucially, the $43.6 billion estimate does not include the future cost of rebuilding or repairing damaged US military facilities across West Asia, according to the report.
The Congressional Budget Office (CBO) also published its own assessment on September 15, estimating that the war on Iran had already cost the Department of War approximately $38 billion as of August 1.
CBO said the figure included the replacement of expended munitions and equipment lost in battle, increased flying hours, other operational costs, and additional fuel costs.
But the most important part of the CBO assessment was its warning about the continuing cost.
It said if the war remained at the relatively low intensity seen in May and June, another month of fighting would cost approximately $2 billion. If fighting returned to the intensity seen in July, the monthly cost could rise to approximately $3 billion.
CBO also stressed that its $38 billion estimate did not include all costs borne by other parts of the federal government and did not include certain costs already incorporated into the regular military budget.
At least 228 US military assets damaged
The financial bill was accompanied by substantial physical damage to US military infrastructure.
On May 6, The Washington Post published a satellite-image investigation finding that Iranian attacks had destroyed at least 228 structures or pieces of equipment at 15 US military sites across West Asia.
The Post’s analysis identified 217 structures and 11 pieces of equipment that had been damaged or destroyed. The targets included hangars, barracks, fuel depots, aircraft, radar systems, communications equipment and air-defense systems.
The newspaper examined more than 100 high-resolution satellite images released by Iranian media and independently verified 109 of those images against imagery from the European Union’s Copernicus satellite system and commercial satellite imagery where available.
It found no evidence that the Iranian imagery had been manipulated. The Post also reported that the destruction was “far larger” than what had been publicly acknowledged by the US government.
The extent of the damage was subsequently reinforced by the US government’s own watchdog. In a report released on September 14, the Pentagon Inspector General provided what the Associated Presssaid was the most comprehensive official accounting to date of the war’s impact on US military facilities.
The report said Iranian attacks had damaged or destroyed hundreds of buildings and other structures at US bases in Kuwait, Bahrain, Qatar, the United Arab Emirates, Saudi Arabia, Iraq, Oman and Jordan.
The significance of this finding is that the damage was no longer based solely on satellite analysis or Iranian reports. It was acknowledged in an official US government assessment.
Dozens of MQ-9 Reapers and other aircraft lost or damaged
The Pentagon Inspector General’s findings also provided a clearer picture of damage to American aircraft.
According to Stars and Stripes on September 15, the war had resulted in damage to or destruction of as many as 30 MQ-9 Reaper drones, along with four F-15 fighter aircraft and more than six KC-135 tanker aircraft.
The report also noted that the cost of repairing or replacing some of these assets had not yet been incorporated into the Pentagon’s overall war-cost estimate.
In other words, even the $43.6 billion figure should not necessarily be regarded as the final bill.
The actual figure, however, is much higher. More than 50 MQ-9 Reapers have disappeared over Iranian skies, according to independent estimates.
The war has depleted America’s missile-defense stockpiles
Perhaps more consequential than the dollar value of the weapons fired is the depletion of America’s stockpile of advanced interceptors.
In its May 6 report, The Washington Post, citing an analysis by the Center for Strategic and International Studies (CSIS), reported that between February 28 and April 8 the US military had used at least 190 THAAD interceptors and 1,060 Patriot interceptors.
Those numbers represented approximately 53 percent of the US prewar THAAD inventory and 43 percent of its Patriot inventory. By September, the assessment had become even more concerning.
The Stimson Center, in a report published on September 22, said that by August the United States had used approximately 80 percent of its THAAD inventory and around half of its Patriot interceptors.
The same report said the Army had used “virtually all” of its ATACMS and Precision Strike Missiles (PrSM) — long-range weapons that would also be important in a potential conflict involving China.
According to Stimson’s assessment, replenishing some of these stocks could take years. CSIS estimated that Tomahawk inventories might not return to prewar levels until late 2030 or early 2031, while Patriot and THAAD inventories could take at least three years to recover.
The costs extend beyond the battlefield
The financial impact has also spread beyond the Pentagon. The CBO said on September 15 that the disruption of oil and gas shipments through the Strait of Hormuz had increased global energy prices, contributing to higher prices for gasoline, diesel and jet fuel in the United States.
CBO estimated that the war would leave US inflation in the first quarter of 2027 0.5 percentage points higher than it had projected in February 2026, while core PCE inflation was projected to be 0.3 percentage points higher.
The agency also estimated that three-month Treasury bill rates would be nearly 0.2 percentage points higher in 2026 than previously projected.
The Stimson Center went further, estimating the direct and indirect cost of the war at approximately $220 billion and putting the average household’s share at roughly $1,650. It attributed much of that wider economic burden to higher energy prices.
Stimson said that by September 15, average US gasoline prices had reached $4.32 per gallon, a 45 percent increase since the war began, while diesel prices had risen by approximately 70 percent.
Damage to US military facilities
Beyond the billions spent on weapons, operations and damaged military equipment, Washington also incurred substantial military, diplomatic and emergency expenses.
On September 14, the Pentagon Inspector General, as reported by The Washington Post, said Iranian attacks had caused approximately $184 million in damage to US military and diplomatic facilities in Iraq, Kuwait, Saudi Arabia and the UAE.
Separately, the US State Department reported around $113 million in war-related and emergency expenses, nearly $80 million of which was associated with the evacuation of diplomats, their families and other US citizens and eligible individuals.
Around 9,000 US citizens were evacuated from the region during the war against Iran.
Iran’s missile program has begun rebuilding
The depletion of American interceptor stocks becomes particularly significant when considered alongside the continued resilience of Iran’s missile program.
On September 10, The Wall Street Journal reported that Iran had resumed production of ballistic missiles, despite the extensive US and Israeli attacks on its missile infrastructure during the opening phase of the war.
According to the report, US and regional officials said Iran was assembling both liquid- and solid-fuel missiles using stockpiled components at underground facilities.
Intelligence pointed to activity at several underground sites, including the Khojir missile facility, while Iran was also working on new underground assembly locations.
The report concluded that the renewed production underscored the difficulty of fully dismantling Iran’s missile program — one of the stated objectives of the war.
Six months on, the original objectives remain out of reach
This brings the military expenditure back to the central question: what did all of this cost actually achieve? Washington continues to describe the war on Iran as having severely degraded the country’s military capabilities.
But independent Western assessments point to a substantial gap between the original objectives and the situation that has emerged.
The Stimson Center, in its September 22 assessment, said the administration initially went to war with objectives that included ending Iran’s nuclear program, destroying its missile industry, annihilating its navy, and ending its support for the Axis of Resistance.
It concluded that the United States had failed to achieve those objectives. Instead, Stimson said, the mission subsequently narrowed to the reopening of the Strait of Hormuz — a goal that became necessary precisely because the war itself had disrupted shipping through the waterway.
“Six months later, little progress toward those goals has been made, while the mission has largely narrowed to the single task of reopening the Strait of Hormuz, a waterway the war itself closed.”
The figures tell the story of that widening gap: $43.6 billion in US military costs; $28 billion needed merely to replace expended munitions; more than 4.3 billion dollars in damaged or lost equipment; hundreds of damaged military structures; depleted THAAD and Patriot stocks; and a weapons-production system facing years of replenishment.
And yet, according to the Wall Street Journal, Iran is already rebuilding parts of its ballistic-missile production capability.
That contrast — between the scale of resources committed by Washington and the difficulty of translating military force into its original political and strategic objectives — is perhaps the most important evidence behind the dramatic change in the narrative surrounding the war.
And now, back to The Economist
This is where the latest Economist cover becomes particularly relevant.
More than 15 months after the magazine placed a torn Iranian flag on its cover alongside the question “How will this end?” the question on its new cover is no longer centered on Iran.
It asks: “WHEN AMERICA WALKS AWAY.”
“America seems to be stuck in the Middle East. It has no easy way out of its war with Iran. Yet the conflict, however it ends, will in fact mark something quite different: the moment when America pulls back from the region—in the sense that it finally relinquishes its hegemony there,” the article reads.
In a September 25 editorial, The Economist’s Deputy Editor Robert Guest makes a similar assessment, writing that the United States has enjoyed decades of dominance in the region, but that this era is now coming to an end.
“Now, as Mr Trump seeks a way out of his ill-planned war, something momentous is occurring. As we describe in our cover package, American hegemony in the Middle East is ending,” Guest writes.
The Iranian Embassy in London announced on 28 September its “categorical rejection” and strong condemnation of speculation regarding Tehran’s involvement in an alleged plot to attack a British military air base used by US forces.
In a post on X, the embassy criticized “recent baseless and malicious speculation circulated by certain individuals and British media outlets attempting to link Iran” to the incident, which occurred in the early hours of Sunday.
Gloucestershire Police had announced on Sunday that a “major incident” was taking place in the Welford area of western England, leading to the evacuation of several buildings near the RAF Fairford air base.
Police stated that army explosive ordnance disposal experts were examining several vehicles and that five men had been detained on suspicion of offenses under the Explosives Act.
Residents were evacuated from 85 homes in the area near the base on Sunday as army bomb-disposal experts used a robot to examine three white vans.
The five men detained in connection with the alleged bomb plot, all British citizens, were released on bail on Monday, suggesting the incident is not serious, in contrast to early claims.
The men will remain under investigation, according to the head of counterterrorism policing, Laurence Taylor.
UK authorities continue to “explore multiple lines of inquiry” regarding the incident, Taylor added.
RAF Fairford has been used as a base by the US Air Force to launch bombing operations against Iran during the war that began in February.
The UK authorized the US to use the base for missions involving B-1B and B-52 bombers.
Britain did not join the US-Israeli war on Iran and initially denied President Donald Trump’s request to use bases in the UK.
However, then-prime minister Keir Starmer soon reversed course, announcing days later that he had agreed to let the US use bases in Britain for what he claimed were “defensive” operations against Iran’s missiles and their launch sites following Iranian attacks on UK interests and Britain’s Gulf allies.
NBC News reported on Sunday night that eight US Marines were injured two weeks ago when an Iranian missile hit a ship they were operating on in the Strait of Hormuz. The report, which cited unnamed US officials, said the Marines sustained smoke inhalation and potentially traumatic brain injuries, as they had symptoms of concussions, […]
The Iranian authorities routinely refuse to return the seized belongings of political prisoners. The practice is intended to punish former inmates even after they have been released, activists say.
President Trump said on Sunday that he was “rejecting” a proposal from Iran to end the war and fully open the Strait of Hormuz within seven days, comments that came after The Wall Street Journal reported that he’s expecting to resume bombing Iran after the midterm elections. “I’m rejecting their deal,” Trump told reporters, according […]
China called on Saturday for an immediate end to the blockade on Cuba, in a speech to the UN General Assembly that stopped short of naming the United States.
Vice President Han Zheng urged the “relevant country” to “immediately stop using the threat of force against Cuba” and to “immediately and completely lift the blockade and sanctions.”
He also pushed back against the US on Iran, saying “China holds that the sovereignty and security of countries in the Middle East, including the Gulf, should be respected,” though he did not mention the US at any point in his remarks.
The comments come as a US pressure campaign has largely cut off oil supplies to Cuba. The US oil blockade began in January and has deepened blackouts, with the island’s electrical grid suffering a total collapse earlier this month that left millions without power.
Equality among states
Han said major countries carry special responsibility for international peace and security and should lead by complying with the rules, upholding the rule of law, and “doing what’s right.”
He also cast China as a reliable partner and a steadfast defender of developing nations, saying all countries, “big or small, are equal members of the international community” and that world affairs should be handled through consultation.
Russian Foreign Minister Sergey Lavrov spoke at the UN shortly after and made a similar appeal, urging Washington to end its siege of Cuba and ease trade restrictions on the island.
He also said the US should remove Cuba from its list of state sponsors of terrorism.
Trump-Xi summit
US President Donald Trump hosted Chinese President Xi Jinping at the White House earlier this week, welcoming him with military flyovers and a lavish state dinner, according to Reuters.
During the talks, Trump told Xi that China should refrain from providing support to Iran in the US war on Iran. The US ambassador to China claimed on Friday that Trump received assurances from Xi that Beijing would not do so.
This followed reports that China had supplied Iran with shoulder-fired air-defense missile launchers and that Tehran had found ways to evade sanctions on its oil sales with Chinese help.
Beijing has repeatedly rejected the US sanctions campaign against Iran. In August, the Foreign Ministry said that sanctions and pressure “will not help resolve the issue” and that China opposes “illegal unilateral sanctions” lacking a basis in international law.
Chinese support for Cuba
Cuba was the first Latin American country to establish diplomatic ties with the People’s Republic of China, and 2025 marked 65 years of relations.
China’s practical support has centered on energy. Reuters reported that Beijing financed 55 solar projects in Cuba in 2025, including a 21-megawatt plant near Jatibonico, with 37 more planned by 2028. Cuban media reported that a shipment of 5,000 solar panels arrived in September, the third of its kind in recent months.
Beijing has also committed 90,000 tonnes of rice to Cuba in 2026, of which 30,000 tonnes have been delivered and 60,000 tonnes pledged.
International flights from Iran to several destinations remain operational despite the expansion of US sanctions targeting the country’s aviation sector, according to Tehran’s Imam Khomeini International Airport.
The airport said Saturday that flights to Turkey, Malaysia, China, Pakistan, Vietnam, and Afghanistan were continuing according to their previously announced schedules.
The announcement comes as Washington escalates economic pressure on Iran and seeks to restrict the ability of Iranian airlines to maintain international operations.
Iranian flights continue despite sanctions
Imam Khomeini International Airport said that, aside from flights already canceled, no additional cancellations had been announced.
The canceled services include flights involving the United Arab Emirates, Iraq, Oman, and Georgia.
The airport also said it was working to restore suspended air connections as soon as possible.
The continued operation of several international routes comes despite growing restrictions on Iranian aviation following a new round of US sanctions announced on September 8.
The measures have affected Iranian airlines as well as companies and intermediaries involved in providing services to the country’s aviation sector.
Recent reporting indicates that Iranian carriers have continued operating some international services despite the sanctions, including flights to China, Turkey, Thailand, and Afghanistan.
US measures target Iran’s aviation sector
The US Treasury Department announced sanctions on September 8 against 36 targets linked to Iran’s aviation sector, including 27 Iranian airlines. Washington described the measures as an effort to target what it considers Iran’s remaining unsanctioned carriers and the networks supporting them.
The sanctions form part of a broader US campaign to restrict Iran’s access to international financial and commercial networks.
The measures have also placed pressure on foreign companies providing Iranian carriers with fuel, ground handling, aircraft-related services, and other forms of support.
The consequences, however, have varied by country. While some governments and companies have restricted Iranian aviation connections, other countries have continued to facilitate flights.
Iraq restrictions trigger backlash
In Iraq, the suspension of Iranian flights, particularly through Najaf International Airport, has triggered criticism from official, political, factional, and religious quarters.
Several Iraqi parties and figures have called for the decision to be reversed and rejected what they described as US pressure on Baghdad.
The Iraqi government is also moving toward dialogue with Washington in an effort to secure an exemption that would allow air links with Iran to resume.
Ali Akbar Velayati, international affairs advisor to Iran’s Leader, said the restrictions on Iranian flights were part of an effort by Iran’s enemies to compensate for their battlefield defeat by attempting to dismantle the “unity of the fronts” from within.
The Iranian Ambassador to Iraq, Mohammad Kazem Al-Sadegh, further told Iran’s ISNA news agency that a new decision surrounding Iranian flights to Iraq is likely to be announced soon.
He added that Iran is in contact with Iraqi officials and proposals on the matter have been submitted.
Al-e Sadegh noted that roughly 12,000 to 13,000 people travel between Iraq and Iran via Iranian airlines.
China maintains air links with Iran
China has maintained its opposition to unilateral US sanctions and continued to receive Iranian flights.
Flight-tracking data cited in recent reports showed Iranian services continuing to operate to Chinese destinations after the latest US measures took effect.
The continued connections with China also reflect the broader geopolitical divide over Washington’s unilateral sanctions policy, with Beijing maintaining economic and diplomatic ties with Tehran despite US pressure.
There have been many tipping points in history; to name just a few examples:
The Peace of Westphalia in 1648
The French Revolution of 1789
The Congress of Vienna in 1815
World War I in 1918
World War II in 1945
Many of these turning points led to shifts in power in Europe. These were merely transfers of power within the world we now call the “Collective” West. Examples include the collapse of the German Empire, the Austro-Hungarian Empire, the Ottoman Empire, and the Russian Tsarist Empire at the end of World War I.
These shifts in power were significant, yet what is happening now cannot be compared to past turning points, as they encompass the entire globe. The reins of power are not being handed over within the West; rather, there will be a shift in power toward the East and the “Global South.”
From Tipping Point to Entropy
The scale, the number of nations involved, the geographic scope, and the speed at which the current geopolitical crises are unfolding are truly astonishing.
Ukraine as a War Platform for the U.S., NATO, the EU, and Russia
Russia Will Prevail Militarily
Looking at the military reports from the front lines, it becomes clear to any observer that Russia will achieve its military objectives. While Russia might have relinquished the Donbas, Kherson, and Zaporizhzhia had a peace agreement been successfully concluded in the spring of 2022, such an agreement is unrealistic under the current circumstances, as Donetsk, Luhansk, Zaporizhzhia, and Kherson have been part of the Russian Federation since September 2022. It is currently unclear how far the Russian military advance will go. I have commented on this in my article “The Summer Peace Died,” to which I refer. For the situation on the front lines, I once again refer to Military Summary; I have been following this channel for nearly five years, and it provides objective reporting.
Catastrophic Mobilization Situation in Ukraine
There are thousands of videos showing young men being hunted down like animals on the streets throughout Ukraine in order to forcibly recruit them. Recently, however, videos have also been circulating that show some of those forcibly recruited being transported to the front lines without uniforms and even in handcuffs, like criminals—to prevent them from escaping. I’ll leave it to the readers to ponder the combat effectiveness of these men against battle-hardened and motivated Russian soldiers.
Armed guards transport mobilized Ukrainian men to frontline in order to prevent them from deserting. This is described as normal by the Ukrainian officer. Videos also show them in handcuffs. Zelensky & Western politicians call this freedom & democracy. pic.twitter.com/f6AGyuMpRX
The latest move by the Ukrainian military leadership is to forcibly conscript women. Given this situation, it’s no surprise that Scott Ritter stated that the Ukrainians are losing 30 times more soldiers than Russia. We hear nothing in the West about this inhumane treatment of their own soldiers in Ukraine.
Ukrainian volunteers, who later disappeared without a trace, are said to have used drones and artificial intelligence to count the number of soldiers’ graves throughout Ukraine. They counted 2,000,054 graves. Added to this are the dead buried by their own people in mass graves and the wounded—the Ukrainians’ losses do indeed appear to be astronomical. Nevertheless, Zelenskyy claims that only 50,000 Ukrainian soldiers have been killed. A few weeks ago, I attended a funeral in Russia. The soldiers’ graves are easily identifiable by the Russian flag and the flag of the fallen soldier’s unit. There were soldiers’ graves, but no sea of flags like in Ukraine.
Ukrainian volunteers, who later disappeared without a trace, reportedly used drones and artificial intelligence to count military graves across Ukraine. Their estimate was 2,000,054 graves. Yet Zelensky claims that only 50,000 Ukrainian soldiers have been killed. Does that mean pic.twitter.com/LeplE4H3n6
Military Victory Does Not Solve Russia’s Geopolitical Problem
Whatever needs to be achieved militarily, Russia will achieve it; however, this does not resolve Russia’s geopolitical problem on its western border, because the goal is not new territories, but peace in the West—a goal that Russia has literally been striving for centuries and has never been able to achieve. Time and again, Russia has been attacked from the West and has regularly paid a high price in blood, money, and industrial capacity—resources diverted to military spending rather than civilian purposes. As a result, Russia’s social development has been repeatedly set back.
If Russia wants to keep pace with the major powers in terms of its civilian economy in a sustainable manner, reliably securing its western border is an absolute prerequisite. Although Russia is the only industrialized nation in the world that is self-sufficient and thus capable of waging a war lasting decades, such a confrontation would massively hinder the country from achieving its actual development goals.
The U.S.’s Lack of Credibility in Negotiations with Russia
The U.S.’s lack of credibility in the eyes of Russia is multifaceted. On September 15, Foreign Minister Lavrov said, verbatim:
“If the Americans hadn’t backed away from the Anchorage agreements, if Europe hadn’t pulled them away from those agreements, we would have been living without war for a year now.” – Sergey Lavrov, September 15, 2026
Under this agreement, Russia would have made major concessions. Russia would have retained the Donbas, frozen the conflict in Zaporizhzhia and Kherson, and relinquished further territories. Objectively speaking, this was a bad deal for Russia, but it demonstrated the Russians’ considerable willingness to compromise. The Russians assumed that this verbal agreement was binding as a gentlemen’s agreement. However, gentlemen’s agreements should only be made with gentlemen. The Americans taught the Russians otherwise. The Russians are dismayed about this incident and have had to admit that no agreements are possible with the U.S. government. Personally, I’m surprised by the fact that this realization came so late. Even written agreements with the U.S. government are not to be trusted. This was evident in the breach of the Memorandum of Understanding that the Americans signed with Iran in June. Thus, one must conclude that this conflict—or any conflict in which the U.S. is directly or indirectly involved—must be fought to the bitter end. A bitter lesson for every contractual partner of the U.S.
The Risk of Escalation is Significant
Ukraine is desperately trying to officially draw NATO into this military conflict. It is astonishing that European countries—above all Germany and the United Kingdom—are not only signaling their willingness to do so, but are actually doing everything they can to prepare their people for a war with Russia.
Instead of naming many people, we’ll use Sir Jacob Rees-Mogg—former cabinet minister and Member of Parliament for North East Somerset—as an example. In this excerpt from an interview, he compares the situation with Russia—without naming it—to the situations during World War I and World War II:
European leaders are currently pivoting from “this is not our war” to “it’s your duty to die in a war with Russia.” pic.twitter.com/h2M0CBpk0g
Young people are thus being called to arms to prepare for war against Russia. In Germany, such efforts have failed miserably. Of the more than 300,000 young Germans surveyed, only 0.17% volunteered to serve in the Bundeswehr. Furthermore, it came to light a few days ago that the Bundeswehr itself could not even find 5,000 volunteers for a battalion in Latvia.
It is incomprehensible what these European countries are up to besides spreading propaganda. Even combined, the European countries do not possess military forces that would give them even the slightest chance of standing up to the Russian armed forces. The Russians are by no means impressed by this farce in Europe—they are disgusted by it. I assume that this war propaganda in Europe serves only to perpetuate the anti-Russian narrative.
Both President Putin and Foreign Minister Lavrov have repeatedly emphasized that they have no interest in attacking NATO targets outside Ukraine. However, if European countries are foolish enough to send even small European military contingents to Ukraine, the situation could change abruptly.
The greatest risk of escalation at the moment is that the Europeans, presumably in collaboration with the Americans, are planning a false flag attack in Europe in order to somehow trigger Article 5 of the NATO Charter. According to geopolitical analyst Warren Thornton, preparations for false flag attacks are in full swing. He writes on X:
THE FALSE FLAG
These are the areas that are the targets. The Mallorca airport in Spain. The Sorrento Continental Hotel in Italy. The Promenade De Anglais, Nice. The area to be launched from west of Sardinia. The agencies involved CIA, French Naval Intelligence Services and the… pic.twitter.com/ThDYyuZBOz
I can’t say whether this theory is correct, but it’s by no means far-fetched that the Europeans would attempt something so outrageous.
U.S. Military Campaigns in the Middle East Beginning in 2001
Looking back over the past 25 years, the U.S. has sought to reshape the Middle East according to the Wolfowitz Doctrine since 2001. None of the wars the U.S. launched during this period (Afghanistan, Iraq, Libya, Syria, Yemen, Somalia, etc.) were successful. In fact, it was already evident back then that the hegemon lacked the resources, military strategy, strength, and credibility needed to act successfully. However, if one’s view is that the actual intent was destabilization and chaos, then they were extremely successful. Nevertheless, they returned to the plan in collaboration with Israel, apparently after Israel had succeeded in completely undermining American policy.
Israel: Genocide and Greater Israel
The immediate starting signal for the “Genocide” and “Greater Israel” projects was given on October 7, 2023, when a military operation by Hamas was turned into a false flagattack to justify the genocide against women, children, and other civilians in Gaza and, later, in the West Bank and Lebanon. This, in turn, served as the starting signal for the continuation of the Greater Israel project; initially, Syria and Lebanon were attacked. Although the Western press not only downplays Israel’s genocidal and imperialist actions but also fully supports and fuels them—including through the media of “neutral” Switzerland—Israel is viewed with increasing criticism by the general public in the Western world. According to Pew Research, 60% of Americans view Israel negatively. The Western media thus conveys an image that finds no resonance among the general public.
When Israeli Prime Minister Benjamin Netanyahu took the podium to address the plenary session on Thursday, delegates to the UN General Assembly left the hall in droves.
NEW
UN General Assembly delegates stage a mass walkout as Israeli Prime Minister Benjamin Netanyahu takes the podium to address the hall pic.twitter.com/EcTpBBvjjM
It is important to me to continually remind my Western readers of what is actually happening in Gaza right before our eyes—eyes that many choose to close.
Major Escalation in the Middle East—Loss of Control
Starting in February 2026, events began to accelerate even further. Since then, everything has gone wrong for the West and Israel in the Middle East. The Global South has already wrested the initiative from the West. While Iran initially limited itself to responding to American-Israeli aggression, it is now the Iranians and the Yemeni Ansar Allah movement who are setting the pace.
Ansar Allah managed to bring the entire western coast of Yemen under its control in a very short time and thus controls not only the Bab al-Mandab Strait but also the island of Perim Mayyun off the coast. With virtually no Western media coverage, the advance continues, and it is quite possible that Aden will soon be captured.
Furthermore, the Saudis’ East-West pipeline was paralyzed and targets near Riyadh were attacked. So far, the Saudis have been unable to mount a serious military response to this large-scale attack, as they do not seem capable of doing so on their own, and repeated calls for help to Trump and others have been in vain. The Mecca Alliance, which unites Pakistan, Saudi Arabia, and Turkey in a military alliance, also appears to be a thing of the past, as even these “friends” refused to provide assistance.
President Macron’s grand announcement that he will send troops to Saudi Arabia won’t change any of that. “Arabia” is called Saudi Arabia because this country is ruled by a family—a tribe—the Sauds. A tribe that is protected by the Americans. However, there are approximately 100 other tribes within Saudi Arabia. It’s very possible that they could join forces with Ansar Allah and overthrow the House of Saud. The House of Saud no longer has any income and seems unable to continue buying off—as it has done until now—all those who could pose a threat to them. There’s a chance that the Saud house of cards will collapse, and if that happens, I wouldn’t give a penny for the remaining Gulf states.
Alastair Crooke also pointed out on several occasions that this dynamic could spill over into Iraq, another millennia-old civilization alongside Iran. If that happens, Kuwait will likely fall as well. Another smoldering conflict can also be detected in Jordan. It is therefore quite possible that the entire structure in the Middle East established by the British a good 100 years ago could collapse within a few months, without the Americans being able to stop this tsunami in any way. Arabia to the Arabs, Persia to the Persians, and the Americans out for good. If this happens, Israel will go from perpetrator to target; one certainly cannot speak of it as a victim in this context. How the emerging great powers of the Middle East will deal with the genocidal Zionists should be left to those who have suffered the greatest losses, for Palestinians are Arabs.
Europe
Chaos is once again rearing its head in Europe. Germany is the first country—once the world’s leading exporter and the major power in the EU—that is in danger of becoming politically ungovernable. The Alternative for Germany (AfD), which has been labeled as far-right and Hitler-like by the previously dominant parties and excluded from government participation by a so-called firewall, not only won landslide victories in two state elections in eastern Germany but also leads the CDU by a clear margin in national polls (30% to 20%). Chancellor Merz’s approval rating stands at 10 percent—a barometer that reveals the people’s dissatisfaction and would have driven any truly democratic chancellor to resign. Whether the Germans, in light of this political situation, will clench their fists and do nothing, as they have in the past, remains uncertain. The chancellor’s downfall would be good for Germany. The AfD is the only major party seeking dialogue and peace with Russia, which is not only desperately needed by this once-thriving industrial nation but is also a prerequisite without which it cannot survive economically. The alternative to real and fundamental political change in Germany is the war against Russia sought by Chancellor Merz and the ruling political elites. The last time Germany went to war against Russia in 1941, Adolf Hitler sent 3.7 million soldiers eastward and failed, despite the Germans’ genocidal behavior, which cost the lives of approximately 17 million civilians. As already explained above, the Federal Republic of Germany today finds itself unable to assemble a brigade of 5,000 volunteer soldiers for the Baltic states. This does not seem to concern the chancellor, which is a clear sign of the madness that has taken hold of him. This is strong evidence that he is acting in the interests of a power located outside Germany. One would be a naughty person to believe that this has anything to do with his BlackRock past. Those who managed to install him as chancellor can pat themselves on the back, as they’ve snagged a puppet at the bargain price of a few million.
The following clip shows how the new leadership in Berlin is presenting itself—the Left has taken over. No words needed:
The situation in the rest of Europe is no more encouraging. The presidential election in France will take place in April 2027. Macron is no longer eligible to run, and Marine Le Pen has a significant lead over the other candidates. The situation is thus similar to that in Germany: a party that is denounced as far-right by the parties currently in power, yet is the most popular among the people. Le Pen’s position on peace with Russia is unclear—she seems to be speaking with a forked tongue: on the one hand, she wants a negotiated peace, but at the same time supports the training of Ukrainian troops. A seasoned politician who positions herself to capture as many votes as possible. France’s financial situation is grim, with no silver lining. The rise in the interest rate on 10-year French bonds over the past twelve months has been even steeper than in any other European country.
Trump
President Trump’s policies only seem difficult to understand at first glance. His constant flip-flopping on Ukraine, Iran, and Israel is counterproductive and damaging to the U.S.’s reputation on the world stage. The reason behind Trump’s current actions is the midterm elections in November. Trump is struggling with the high oil prices he himself has caused, which he can prevent from spiraling out of control by manipulating the futures markets. However, actual market prices are 30% to 50% higher than the manipulated, fantasy futures prices. The fact that futures prices are indeed manipulated is evident, for example, in diesel prices at gas stations, which are moving in only one direction and have reached unprecedented levels worldwide. Diesel is the lifeblood of the American economy, and high prices are one of the biggest drivers of inflation, since virtually all goods are transported by trucks, agriculture depends on it, and large parts of industry rely on diesel. Trump’s latest farce: He’s blaming Zelenskyy for the high diesel prices because Ukraine is attacking Russian refineries; he’s doing this solely to divert attention from the biggest price drivers—the blockades of Hormuz and Bab al-Mandab.
Somehow, Trump wants to turn things around, but it seems that he will lose the midterm elections coming up in about six weeks. According to Polymarket, an American online prediction market where users bet on the outcomes of future events—with market prices reflecting collective probability estimates—the probability that the Republicans will lose their majorities in the House of Representatives and the Senate stands at 66%. Should this come to pass, Trump will likely face impeachment proceedings. He then runs the risk of going from a lame duck to a dead duck and being replaced by his turncoat vice president, Vance—not a promising outlook for the United States.
Trump’s latest appearance this week before the UN General Assembly was a testament to his psychopathic nature: He announced—nota bene after the election—that he would either make Iran a rich country or obliterate it completely.
Trump is every bit as bad as Adolf Hitler. In his speech at the Berlin Sportpalast on September 4, 1940, Hitler said, “We will wipe out their cities.” Trump wants to wipe out a 5,000-year-old civilization—without any legal basis, of course—acting like a god. In doing so, Trump is publicly calling for the genocide of an entire civilization. One might wonder whether he belongs in prison or in a psychiatric hospital, but the fact that he can make such statements before a global audience with impunity shows the depths to which Western civilization has sunk. I refer to a speech I gave in Switzerland on September 3.
The Financial Markets
I have made numerous comments on the instability of the financial markets. Now my dire predictions seem to be coming true. In addition to the overvaluations in the stock markets, I have repeatedly pointed out the unsustainable situation in the bond markets. Among the more astute market participants, fear is beginning to set in. Mr. Bessent has lost control of interest rates. On August 28, 2026, I looked at the average interest rate the U.S. had to pay on its debt; at that time, it stood at 3.35% (May), resulting in an annual interest burden of 1,340 billion. Today, this average interest rate stands at 3.49% (August); the debt mountain currently stands at 40,070 billion, meaning it has already increased by another 70 billion. Annual interest payments have thus risen by 56 billion to 1,396 billion per year in this short period of time.
Over the past 28 days, the yield on the 10-year U.S. Treasury bond has risen from 4.722% to 5.185%, an increase of 0.46%. It does not appear that this trend will change. If this pace continues, not only will the government bond market collapse, but so will the towering mountains of debt in the AI sector. The same picture is emerging in Europe and Japan as well. The question isn’t whether the collapse will happen, but when—and who the U.S. will let go first: the Japanese or the Europeans. That is my personal opinion. When it comes to timing, I’m regularly wrong, which has taught me not to be active in these markets. I have the great privilege of meeting regularly with one of the world’s most successful investors. At our last meeting, he agreed with me in principle but remarked that I couldn’t possibly imagine what tricks and means the Americans still have at their disposal to delay the inevitable.
The scale of this crisis will dwarf anything humanity has ever seen. Compared to today, the 2008 crisis was a stroll through a sunny park with a delicious picnic. Such a collapse in the West will also affect the countries concerned’s geopolitical freedom of action; suddenly, everyone will be very preoccupied with their own problems. No one knows whether this will lead to an escalation in the geopolitical arena. What is certain, however, is that the “experts”—who are still driving the markets forward with their jubilant cheers—will solemnly declare that this simply could not have been foreseen—as always.
Entropy
All of these individual tectonic shifts lead to what can be described as entropy, a term from thermodynamics. Applied to geopolitics, I describe the situation as a massive, irreversible state of disorder and uncertainty within the various international systems. Existing power structures, rules, institutions, and hierarchies are losing their cohesive power, and a new order that would promise stability is not in sight.
For the collective West, which until recently held the reins firmly in its hands, is unwilling to make compromises so as not to jeopardize its position as a hegemon.
The Global South, taken by surprise by the rapid pace of events, has not yet devised a coherent, unified, and effective policy to wrest power from the West.
It appears that the Global South, under the military dominance of Russia, China, and—most recently, Iran as the fourth major military power—is in the process of adapting to the new circumstances and coordinating its efforts, which will ultimately lead to its victory.
How long this will take, however, and whether the West will use nuclear weapons to maintain its hegemony remains to be seen—though I would like to express my doubts on this point. So far, only Adolf Hitler believed that Germany should go down with him. Let’s hope that cooler heads are in control of the apocalyptic buttons.
An Iraqi anti-terror resistance group has denounced the Baghdad government’s decision to halt Iranian airline operations following US sanctions on Iran’s aviation sector, vowing to stage sit-ins at Iraqi airports nationwide unless normal air traffic between the two Muslim neighboring countries resumes.
“We will not wait long,” Harakat Hezbollah al-Nujaba Secretary-General Akram al-Kaabi said in a statement on Friday.
He urged Iraqi political forces to “break free from American dominance.”
The restrictions, Kaabi said, were preventing millions of people from visiting religious sites and harming Iraq’s economy.
On Thursday, the Kata’ib Hezbollah resistance group called upon all walks of Iraqi society to break “the US siege on Iran.”
The faction urged Iraqi citizens to “circumvent the embargo through all available means” in demonstration of solidarity with Iran, including the purchase of Iranian commodities, the facilitation of commercial relations with Iran, and the abstention from any undertakings that would exacerbate Iranians’ hardship.
The group also asked Shia religious authorities to issue a decree (fatwa) on whether it is religiously permissible “to help the enemy, in any form, besiege and starve the Iranian people.”
Commercial aviation services between Iraq and Iran were suspended after ground-handling companies stopped providing services on these routes over concerns about potential US sanctions.
The move prompted airlines to suspend their flights.
Najaf International Airport, the last Iraqi airport still operating flights to Iran, suspended the services at 2 a.m. local time on Friday until further notice, according to an official directive.
Erbil International Airport and Sulaymaniyah’s International Airport took similar measures. Kirkuk International Airport also said it had no flights to Iran.
The disruption followed US measures targeting Iran’s aviation sector. On September 8, the US Treasury sanctioned 27 Iranian airlines and claimed that airports, fuel suppliers, ground-handling firms and other service providers dealing with sanctioned carriers could face secondary sanctions.
Mohammad Mokhber, an adviser to the Leader of the Islamic Revolution, Ayatollah Sayyed Mojtaba Khamenei, on Friday warned against recent regional measures that had disrupted Iranian passenger flights, saying: “Flights in the region are either free for everyone, or for no one.”
He added that cooperation with the US in implementing hostile policies would remain in the memory of the Iranian people, stressing that if Iran cannot fly or receive airport services, “no country in the region will have this possibility either.”
Iran has offered the US a new deal aimed at ending the months-long conflict before the midterm election in November, directly challenging President Donald Trump’s claim that Tehran is deliberately waiting until after the election to reach an agreement.
Trump claimed in a speech at the UN on Tuesday that Iran is deliberately stalling the talks to see how Republicans perform in the November 3 midterm election, and predicted that Tehran would make a deal “right after” the vote. He also threatened to “annihilate” the Islamic Republic if negotiations fail.
“We don’t want it to get to the midterm elections,” Iranian President Masoud Pezeshkian told reporters on the sidelines of the UN General Assembly in New York on Thursday. “We wish Americans to return to the MOU before the midterms,” he said, referring to the memorandum of understanding reached by the US and Iran in June.
“We did reach an agreement with your president… The problem is that America, instead of conducting dialogue, descended into the arena by bombing us first, by blocking every pathway,” Pezeshkian said in an interview with Fox News. “We will stand resolutely to defend ourselves. We never sought war… It’s America that must choose whether it wants to end this or not.”
Iranian Foreign Minister Abbas Araghchi said Tehran has submitted a proposal in which the Strait of Hormuz could be reopened within around a week and negotiations on Iran’s nuclear program rapidly resumed. The proposal was sent through mediators during talks in New York this week.
Under the plan, Tehran would restore navigation through the crucial oil shipping route in exchange for Washington lifting its economic blockade, easing restrictions on Iranian oil exports, and releasing some frozen Iranian assets. Iran is also seeking an end to hostilities on other fronts, including Israel’s combat operations in Lebanon.
US and Iranian negotiators are discussing a phased arrangement in which the blockade and restrictions on Hormuz would be addressed first, Reuters reported, citing Iranian, regional, and Western diplomatic sources.
Tehran has not abandoned its claim to regulate Hormuz, with Iranian officials continuing to insist that the waterway should be managed by Iran and Oman and that fees should be charged for services provided to passing vessels.
Araghchi said the proposal largely follows the terms of the June memorandum rather than introducing new demands, adding that Iran is waiting for a response.
Araghchi has also held a series of meetings with foreign counterparts in New York, including Russian Foreign Minister Sergey Lavrov. Moscow has said there is “no alternative” to a diplomatic settlement of the crisis provoked by the “illegal actions” of the US and Israel.
The renewed diplomatic push comes amid mounting pressure on both sides. The US blockade has sharply restricted Iran’s oil exports, while Tehran’s controls over Hormuz have disrupted one of the world’s most important energy corridors and helped push oil prices above $100 a barrel and US diesel prices to historic highs.
Pezeshkian, who is the first foreign head of state to speak at the UN while his country is at war with the US, told the chamber on Wednesday that Tehran is prepared for “dialogue and diplomacy” but will not negotiate under threats of force and “will never bow our head or bend at the knee.”
China’s President Xi Jinping concluded his three-day state visit to the US on Friday, September 25, with hopes of enhanced cooperation and partnership between the world’s two largest economies.
Xi arrived in the US on Wednesday and received a large-scale welcome from President Donald Trump. Though this was their third in-person meeting it was Xi’s first state visit to the US in over a decade.
On Thursday, the leaders had a long in-person conversation in the White House and finished the day with a state dinner with 130 guests, including tech executives. Though the US is yet to release its version of the official proceedings, reports indicate they discussed a range of outstanding issues such as the dispute over trade and tariffs, cooperation in Artificial Intelligence, the issue of Taiwan, and the US-Israeli war on Iran.
During the meeting with Trump, Xi called for strategic stability in the China-US relationship which will benefit both countries and the people around the world, Xinhuareported.
“China and the US should be partners, not rivals,” Xi said.
Xi’s statement comes at a time when the two countries are negotiating a longer trade deal after briefly facing each other in a tariff war last year. Both countries agreed to extend their temporary trade truce which halted the tariff war till January to give their negotiators more time.
The so-called Busan Trade Truce was set to expire in November this year.
Xi hoped that “both sides would stay committed to the principles of mutual benefit and win-win cooperation and promote the sustained, stable and sound development of China-US economic and trade relations.”
Technology and AI
Successive administrations in the US have characterized China’s advancements in technology and other economic sectors as a threat to American interests and have tried to curb them by restricting its access to technology.
In his attempt to address such apprehensions, Xi proposed that “both sides work towards a relationship featuring cooperation as the mainstay, moderate competition, manageable differences, and the promise of peace.”
Talking about the competition in the development of Artificial Intelligence (AI), Xi offered increased coordination and cooperation between the countries as a way of mutual benefit.
While emphasizing that “two sides should maintain human control over AI technologies, uphold people-centered approach and the principle of using AI for good” he proposed greater exchange of information to “prevent any misuse and abuse of AI.”
Xi also expressed hope that Chinese companies “are treated fairly in the US” while inviting more US companies to invest in China. “Working together, we can lengthen the list of cooperation and shorten the list of issues” he underlined.
The US has sanctioned or put a large number of Chinese companies, including its AI firms on various watch lists in recent years, after accusing them of working with the Chinese armed forces or being involved in the so-called technology theft.
Notably, however, major US tech and finance executives such as Jensen Huang of Nvidia, Mark Zuckerberg of Meta, Eric Yuan of Zoom, Kelly Ortberg of Boeing, Larry Fink of Blackrock, Sam Altman of OpenAI, Satya Nadella of Microsoft, Sundar Pichai of Google, Jeff Bezos of Amazon, and Elon Musk of SpaceX and Tesla, were present at the state dinner for Xi’s visit hosted at the White House on Thursday, September 24, though no details of cooperation between US and Chinese tech firms have emerged.
Taiwan
Reiterating China’s resolve to “safeguard national reunification and territorial integrity,” Xi expressed hope that the US will “adhere to the correct position on opposing ‘Taiwan independence’ and handle the Taiwan question with caution.”
China has repeatedly accused the US of promoting the separatist cause in Taiwan, despite officially adhering to “one China policy.” The US under Trump has sold or agreed to sell billions of dollars’ worth of weapons to Taiwan in complete disregard of China’s objections.
China has also accused the US and its allies in the region of promoting an arms race by deploying advanced weapon systems close to its borders.
Xi said if the US follows the correct position on Taiwan it “will enable both the countries to lay a solid foundation for their strategic cooperation and the development of their bilateral relationship.”
US-Israeli war on Iran
China has refused to intervene or get involved in the US-Israeli war on Iran, despite Trump’s repeated calls for them to do so. China has maintained the war was unnecessary and repeatedly warned against its prolongation. It has supported the interim peace deal signed in June under international mediation.
Xi reiterated this position during his visit to the US, expressing hope that both Iran and the US would soon return to the Memorandum of Understanding (MoU) and end the war.
Xi claimed that “China-US cooperation may not solve every problem in the world, but without it, it would be hard to solve many of the world’s problems” and proposed more dialogue and “mechanisms of crisis communication and prevention” between their armed forces.
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