Iran and its allies now hold sway over two key oil shipping routes, and Tehran is setting the stage for a diplomatic win that could enhance its stature.
Page F2From§Eachthe late evening edition — 12 September 2026
OIL LEDGER
Treasury declares 'economic D-Day' on Iran, then watches allies lose a pipeline and a port instead.
“They call it "economic D-Day" on Tuesday, and by Friday the real damage lands on a Saudi pipeline and a Yemeni port — the sanctions hit Iran's paperwork, the militias hit our allies' oil. Six months into this war, the guy filling his tank pays a surcharge no invoice explains, while Iran walks into a BRICS summit asking the rest of the table to de-escalate. That's the whole racket: we pay in gas prices and shipping delays, they collect a seat at the table.”
“Look, "economic D-Day" is exactly the kind of decisive branding this administration promised — 27 airlines sanctioned, that's a real number, that's tough. Sure, the pipeline fire and the port, those are regional actors, that's a separate track, that's not on us. Did I just say a Saudi pipeline burning down isn't on us? That's not — strike that.”
The receipts
The ongoing conflict between the United States and Iran remains characterized by unverified claims of success and ambiguous thresholds for escalation despite six months of military exchanges and economic volatility.
Iran-backed Houthis’ lightning offensive threatens the vital Bab el-Mandeb Strait, creating a new crisis for President Donald Trump.
Iraq closed two key border crossings with Iran amid the probe, as Saudi Arabia had doubled Red Sea oil exports.
Chinese President Xi Jinping called on BRICS countries to play a peacemaking role in the Middle East on Saturday, casting China and the bloc as potential diplomatic counterweights to the United States and its allies amid the ongoing conflict. Speaking at the BRICS summit in New Delhi, India, Xi said China would work with other […]
Among the 11 BRICS members signing on was the United Arab Emirates, which houses a US air base and has suffered Iranian drone and missile attacks -- and Saudi Arabia, which shut down its East-West pipeline Friday after attacks from Iran-backed Iraqi militias set it on fire with strikes.
Houthi fighters on Thursday took control of a key port city on the west coast of Yemen, putting them in a stronger position to disrupt commercial shipping—and to potentially send oil prices rocketing even higher. According to Reuters, the Houthis seized the city of Mocha from Saudi-backed forces before moving toward the Hanish Islands…
The Iranian leader's remarks came ahead of the weekend BRICS Summit and days after Trump defended Washington's military campaign against Tehran.
A drone attack from Iraq forced Saudi Arabia to close its East-West pipeline, the kingdom said, threatening a key workaround to Iran’s Persian Gulf blockade.
The Strait of Hormuz remains the primary flashpoint in the conflict.
· Two Saudi Aramco oil refineries, one in Abqaiq and one in Khurais, Saudi Arabia, are attacked by drones, resulting in massive fires. The fires are under control, according to the Saudi Arabian Interio from the morgue, 14 Sep 2019
· Pakistan says it was surprised to learn of the country's inclusion in Saudi Arabia's so-called "Islamic anti-terrorist alliance", and that Pakistan was not consulted before inclusion in the alliance b from the morgue, 16 Dec 2015
· The Saudi Arabian Armed Forces and United States Central Command (U.S. CENTCOM) launch strikes against Iran–backed militias in Iraq in response to Iranian drone attacks against oil facilities in Saudi from the morgue, 29 Jul 2026
· Iran War Trump Said Would Be Quick Has Now Lasted 6 Months With 'No End In Sight' from the morgue, 28 Aug 2026
· Bessent unveils sanctions targeting Iran airlines in latest ‘economic D-Day’ tactic from the morgue, 8 Sep 2026
· The Houthi-led government accuses Saudi Arabia of an airstrike on a runway at Sanaa International Airport in Houthi-controlled Yemen, which Yemen's internationally recognized government says was to st from the morgue, 13 Jul 2026
This page is a back-issue: the story as it ran, receipts as they were. The current edition is at the front.