TOP STORIES
Top US Lobby Firm Had Hidden Ties to Iran, Russia Oil Tycoons | Bloomberg
“In early March, as the war in Iran sent oil prices soaring above $100 per barrel, executives at a Washington-based lobbying firm called Qorvis made an unusual suggestion to senior US officials, according to people familiar with the matter: The Trump administration should relax some sanctions on Iran and Russia to help stabilize the market. Within days, the Treasury Department issued short-term waivers allowing the sale and offloading of Iranian and Russian oil stranded on tankers at sea. Critics decried the decision for giving secretive, sanctions-busting shippers—the so-called dark fleet that props up Tehran and Moscow—a temporary pass to profit, even as some Asian nations applauded the relief. . . . over the past year, Qorvis represented Singapore-based Wellbred Capital Pte Ltd. and Dubai-based 2Rivers Group—companies Western officials say are controlled by two of the biggest tycoons in the sanctioned oil trade.”
“The U.N. atomic watchdog’s board on Wednesday reported Iran to the U.N. Security Council for the first time in 20 years, citing it for failure to cooperate in a long-running investigation into uranium traces detected by inspectors at undeclared sites. . . . Reporting Iran to the Security Council opens the country to possible sanctions and asset freezes, though such punitive measures are unlikely because Iran’s allies Russia and China hold veto power on the panel.”
Yemen’s Iran-Backed Houthis Sweep Toward Strategic Bab al-Mandeb | Wall Street Journal
“Iran-backed Houthi militants seized the strategic port city of Mokha on Yemen’s west coast Thursday, Yemeni and Saudi officials said, further expanding their control near the Bab al-Mandeb chokepoint for energy exports through the Red Sea.”
UANI IN THE NEWS
U.S. Destroys 5 IRGC Tankers After Iran Targets Another American Warship | Energy News Beat
“Tracker United Against Nuclear Iran reported that August 2026 saw only three small handymax tankers depart the Gulf of Oman carrying 1.54 million barrels of LPG, with zero crude oil vessels successfully crossing the blockade line. Pre-war monthly exports typically averaged around 55 million barrels. No laden crude tanker has successfully departed the Gulf of Oman since July 12. As of September 8, UANI identified at least 51 tankers laden with Iranian oil clustered along the Iranian coastline, with only 29 loadings recorded since the July 14 blockade restart—just six of them from Kharg Island.”
SANCTIONS, BUSINESS RISKS & OTHER ECONOMIC NEWS
How a Billion-Dollar Sanctions Dodge Kept Chinese Goods Flowing to Iran | Reuters
“Iran has used a barter-like arrangement to bypass sanctions on its oil sales and buy billions of dollars’ worth of goods from China, including military gear, two senior Iranian sources and three other people familiar with the matter told Reuters. The secretive trade mechanism, in which Iranian oil is exchanged for credits for Chinese imports, has provided a financial lifeline for Tehran in recent years as the United States stepped up economic and military pressure over its nuclear program, according to the sources . . .”
Iran Suspends Freight Charge on Foreign Vessels Carrying Energy Products to or from Iran | Reuters
“Iran has temporarily suspended a 10% charge on freight fees for foreign vessels carrying imported or exported oil, gas and liquid petroleum products to and from Iran, the semi-official Fars news agency reported on Thursday. . . . Fars said the charge had increased the cost of transporting oil, gas and liquid products, and suspending the levy could reduce transportation costs and encourage foreign fleets to carry goods to or from Iran.”
Turkey Takes Note of US/Iran-Related Sanctions Announcement, Finance Minister Says | Reuters
“Turkey has taken note of the recent announcements by the U.S. Treasury on doing business with Iran, Finance Minister Mehmet Simsek said, speaking to reporters on Wednesday. . . . Our message to both the financial sector but also other actors in the economy is that all companies have to conduct their activities in full compliance with national regulations, Simsek said. Last week, the U.S. Treasury Department imposed sanctions on a small Turkish investment bank and two subsidiaries as part of the Trump administration's campaign to increase economic pressure on Iran.”
MILITARY MATTERS & SHIPPING
“Multiple American military aircraft were damaged in Iranian strikes overnight Tuesday into Wednesday local time on Muwaffaq Salti Air Base in Jordan, people with direct knowledge of the matter told CBS News.”
Iran Likely to Reverse-Engineer Captured US Underwater Drone | Reuters
“Iran’s capture of a U.S. military underwater drone gives Tehran an opportunity to study and potentially reverse engineer the vessel, delivering a setback for the Pentagon and drone maker Anduril.”
With Close Calls on U.S. Warships, Iran Shows New Appetite for Escalation | Wall Street Journal
“Iran is increasingly trying to escalate its conflict with the U.S. as it seeks to break a stalemate in the Strait of Hormuz that is strangling its economy. At least three times in the past week, Iranian forces have launched missiles at American warships, including an aircraft carrier, taking direct aim at the U.S. Navy in a way it hasn’t done since the start of the war. Iran also fired a large missile salvo at U.S. forces stationed in Jordan on Wednesday. The attempted strikes on warships have led to much closer calls than previous attempts, with Iran using maneuverable warheads, people familiar with the attacks said. The warships evaded the attacks, said U.S. Central Command, which is responsible for the Middle East. Still, the attacks have left American officials increasingly concerned that Iran has improved its ability to target ships, perhaps with help from Russia or China, the people said.”
“Top White House advisers have raised privately with President Trump the prospect that the Iran war could drag on through the remainder of his term, U.S. officials said, a message at odds with Trump’s public assurances of a swift victory. . . . Trump often speaks privately with aides of his desire for a quick resolution to the war, which is in its seventh month and has killed 18 servicemembers, the officials said. But Trump also supports a long-term economic siege, using a naval blockade and sanctions in a bid to force the regime to dismantle its nuclear program.”
Trump Says Iran War Will End ‘Immediately’ After Midterms | Politico
“President Donald Trump said Wednesday that the Iran war will end and gas prices will plummet ‘immediately after’ the midterm elections, the latest deadline slip in a war that has lasted months longer than the president initially promised. Trump said Iranian leadership is escalating the conflict now in order to hurt Republicans in November’s midterm elections.”
DIPLOMACY
Pakistan Warns Iran to Rein in Houthis as Riyadh Strikes Back | Reuters
“Pakistan has delivered a Saudi warning to Iran to rein in its Yemeni Houthi allies after they stepped up attacks on the kingdom, in a coordinated effort to prevent the crisis from spiralling, Saudi, Pakistani and Iranian sources said. . . . Houthi military spokesman Yahya Saree said on Wednesday that Saudi warplanes carried out 54 airstrikes across various Yemeni provinces over the past 12 hours, adding that they would ‘not go unanswered and unpunished.’ . . . While officials in Islamabad stressed any military role would be confined to defending Saudi territory, Pakistani Defence Minister Khawaja Asif said attacks spilling into the kingdom could trigger a joint security arrangement involving Riyadh, Ankara and Islamabad.”
PROXY WARS & TERRORISM
“An Iraqi commander of the Iran-backed militia who allegedly plotted attacks against Jewish targets in Europe, Canada and the United States tried to enter Singapore on multiple occasions, the city-state’s security agency says. Singapore says it would not have allowed Mohammad Baqer Saad Dawood Al-Saadi to enter the country. But it warned the case highlighted how conflicts in the Middle East could raise terrorism risks in Southeast Asia.”
“Argentina’s intelligence authorities have reportedly received warnings of a possible Hezbollah plan to carry out targeted killings in the country, with Diego Kravetz, a senior official in the country’s intelligence agency SIDE, identified as one of the potential targets. . . . The case also carries special significance because Argentina has a history of attacks attributed to Hezbollah and Iranian interests. The 1992 bombing of the Israeli Embassy and the 1994 AMIA bombing in Buenos Aires remain among the country’s most serious terrorist attacks. Argentine authorities have historically attributed responsibility for the attacks to Iran and Hezbollah.”
NUCLEAR PROGRAM
Trump Says Activity Seen at Iran’s Pickaxe Mountain, Urges Tehran ‘Not to Get Cute’ | Reuters
“President Donald Trump said on Wednesday the United States may hit Iran's Pickaxe Mountain, urging Tehran to be cautious. ‘We notice there’s a little activity at Pickaxe. I would advise Iran not to get cute because we will have to hit them very hard,’ Trump said in a speech at the midterm Republican convention.”