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The Hormuz Letter
@HormuzLetter
Iranian. The Middle East through the lens of oil, markets, and money. This is the only account.
91 Following    193.6K Followers
BREAKING: The US appears to have abandoned its naval blockade line against Iran, pulling its aircraft carriers off it entirely after Iran's first use of anti-ship ballistic missiles against a carrier. The warships have not been located in the CENTCOM area on Sentinel-2 satellite imagery since the beginning of September, including the USS George H.W. Bush, the USS George Washington, the amphibious assault ship USS Boxer and even their escorting destroyers. The finding suggests the US has pulled back beyond the range of Iranian anti-ship missiles from a blockade line that until August sat at the exit of the Gulf of Oman. The pullback was likely prompted by Iran's first use of anti-ship ballistic missiles against a US carrier on the night of September 5 with the Qasem Basir, which has a range of about 1,200 km and covers almost the entire Arabian Sea. Iran said on September 12 that not a single US warship remains in the Persian Gulf, down from around 30 before the attack, with all US vessels holding at least 400 km off the Iranian coast. Iran's SNSC chief Rezaei said the Qasem Basir "created hell for the Americans, and they fled." Independent imagery had not supported that withdrawal until now.
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Footage shows Iran's President Pezeshkian setting foot on US soil in New York for the UN General Assembly, a day before Bessent says all Iranian airlines will be shut down around the world. It is unclear whether his Iranian-registered jet will be refueled for the flight home.
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BREAKING: Trump calls for a total ban on US diesel exports, saying "Let's not send out the diesel. We make a lot of diesel," that a decision would come "fast," and that an announcement is expected "very soon." It would be the first US diesel export ban in history. Europe stands to be hit hardest, as the US is the world's largest diesel exporter and Europe its biggest customer, buying record volumes since the Gulf barrels stopped, making its worst-ever energy crisis worse. Russia, the second largest exporter, has already halted its own exports. US diesel is at a record $6.53 a gallon today and 16% of French stations are out of fuel.
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BREAKING: Israel is preparing for escalation with Iran, with Netanyahu urgently convening a security assessment tonight and his departure for the UN now unclear, per Channel 13. A senior Israeli officer says the military is preparing for multiple scenarios, including a full-scale war with US backing or Israel acting entirely alone inside Iran. Senior officials estimate the Iranian front could flare up soon. Netanyahu cut short his US trip on Saturday as Trump cut short his weekend at Camp David, and Trump said at the UN hours ago that his choice is a deal or to "annihilate the Islamic Republic."
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BREAKING: The entire Iranian delegation has just walked out of the UN General Assembly as Trump spoke about Iran, saying he has "a big decision to make," per AP. Trump asked whether a deal would let Iran "rebuild and create a far greater country than it ever was before," or "do I annihilate the Islamic Republic, and do it quickly, never giving them a chance to kill and destroy again? Do I drive them into hell with no chance of survival and no hope of future greatness?"
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Trump waits for applause at the UN but gets zero: "America is back and our country is greater today than ever before."
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The Cuban delegation has just walked out of Trump's speech at the UN while he calls their country a failed state.
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Trump, on his way into the UN General Assembly, to CNN's Kaitlan Collins: "I'm surprised that CNN is here covering me. You shouldn't be here! You should not be here covering me. You said you weren't going to cover me. You shouldn't be covering me."
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BREAKING: Iran directly rejects new claims this morning that Iran is ready to reopen the Strait of Hormuz within seven days if the US eases military pressure and lifts the blockade on Iranian ports, with Iranian sources calling them "false, unreliable and lacking in accuracy," per Fars. The reports, by Reuters and Kyodo citing Iranian sources, said the plan had even been approved by Supreme Leader Mojtaba Khamenei and the Supreme National Security Council, causing Brent crude oil to fall almost 5%, from $102 to $97. Iran says the recurring pattern, where positive news about negotiations coincides with diplomatic activity and leads to a drop in oil prices, has become a repetitive scenario by the Trump administration to influence the price of oil. Iran says all conditions must be met first for a Hormuz reopening, which remain unchanged: $300 billion in US compensation, complete lifting of all US sanctions, release of $100 billion in frozen Iranian assets, end of the US naval blockade, US troop withdrawal from the entire region, and a comprehensive regional ceasefire including in Lebanon and Gaza.
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BREAKING: The Trump administration announces state-run media, similar to Russia and North Korea, launching "Trump TV," its own 24/7 streaming channel of the administration's remarks and events, going live tonight at 7 PM and claiming "just the news that matters most - straight from the Trump Administration." This is the first time in US history an American president has launched a formal state-media channel in his own name. It comes 3 days after the White House banned CNN, MS NOW and Politico, and hours after the five-network TV pool stopped covering Trump's events in response, leaving a White House event today with video but no sound. The White House is now broadcasting the president itself.
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Trump can't be heard at today's White House event because the press pool is not there. All five networks of the press pool, including Fox News, boycotted coverage over the White House ban on CNN, MS NOW and Politico, leaving video of the president but no sound of what he said. Nobody can hear the president now.
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BREAKING: Iran's triple-urgency bill to withdraw from the Nuclear Non-Proliferation Treaty (NPT) has now been sent to the parliament's presiding board, coming as lawmakers are calling for nuclear weapons tests "as soon as possible" because Iran needs nuclear deterrence, per Iranian MP Haji-Deligani. He adds "remaining in the NPT brings us nothing but losses," and "we should conduct the necessary tests for a nuclear weapon as soon as possible."
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BREAKING: Iran says it has developed "new weapons" the world has never seen, and will bring "new weapons with new capabilities into the battlefield, and the world will be surprised," adding that it will "change the geography of the war," per IRGC spokesman Mohebbi. Iran adds it possesses strategic weapons developed during the war that "have not yet been deployed," describing them as strategic assets to be deployed when necessary. It comes as Iran's triple-urgency bill to withdraw from the Nuclear Non-Proliferation Treaty now sits with the speaker of parliament, after being sent to the presiding board today, as lawmakers are calling for nuclear weapons tests "as soon as possible."
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BREAKING: FAA imposes ground stops at 7 airports, including New York’s JFK, LaGuardia, Newark, Boston Logan, Philadelphia, Teterboro and Westchester due to an "equipment outage," as foreign leaders arrive in New York for the UN General Assembly, which opens today. Newark alone has seen 92 cancellations and nearly 70 diversions so far.
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Iran's President Pezeshkian is scheduled to address the UN General Assembly in New York on September 23, the same day Bessent says all Iranian airlines will be shut down around the world. He is expected to land at JFK Airport on an Iranian-registered commercial airliner converted for government use and will need refueling in New York for the flight home on September 23 or after.
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BREAKING: US Treasury Secretary Bessent says all Iranian airlines will be "shut down around the world" on September 23, with any airport or company that provides them fuel, landing services or ticket sales to be "knocked out of the dollar system." "If they land, you cannot provide them with fuel, you cannot provide them with landing services, you cannot sell them tickets or you will be knocked out of the dollar system," Bessent says. Trump told Fox News yesterday his options on Iran were "wiping Iran out, letting them rot economically, or making a deal." The order lands hardest on US partners, as Iranian carriers fly mainly to Dubai, Istanbul, Doha and Iraq.
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BREAKING: US Treasury Secretary Bessent says all Iranian airlines will be "shut down around the world" on September 23, with any airport or company that provides them fuel, landing services or ticket sales to be "knocked out of the dollar system." "If they land, you cannot provide them with fuel, you cannot provide them with landing services, you cannot sell them tickets or you will be knocked out of the dollar system," Bessent says. Trump told Fox News yesterday his options on Iran were "wiping Iran out, letting them rot economically, or making a deal." The order lands hardest on US partners, as Iranian carriers fly mainly to Dubai, Istanbul, Doha and Iraq.
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BREAKING: ABC, CBS, CNN, NBC and Fox News, all five networks of the White House TV pool, have just suspended all coverage of Trump's public events effective immediately over the White House ban on CNN, MS NOW and Politico, with no replacement pool, saying "no administration should restrict a news organization because it objects to its reporting." The White House left the primary TV pool slot empty for today, the day CNN was due to lead it for Trump's trip to the UN General Assembly in New York, after CNN's White House reporter had her pass confiscated on Saturday. Trump begins UN week, two days after cutting short Camp David over a possible escalation with Iran, with no shared network feed of his public events.
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BREAKING: France's fuel shortage is surging, with 16% of the country's stations now out of petrol or diesel, one in six, up from 11% on Saturday, and 18% in Île-de-France around Paris, per government figures published this morning. Pays de la Loire is at 20%, Grand Est at 19%, and Centre-Val de Loire and Normandie at 18%, with every region except Corsica above 13%. The official count only registers a station as short if it has no petrol at all or no diesel at all, so the real shortage is much larger. French diesel now averages €2.42 a litre, about $10.52 a gallon, a new all-time high. Petrol is also above its previous peaks. Europe’s worst-ever energy crisis is getting worse.
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BREAKING: An explosion in the Demilitarized Zone (DMZ) between South and North Korea has injured multiple South Korean military officers, two critically, who are being evacuated by helicopter, per Yonhap. At least three soldiers from the Army 25th Infantry Division were among the injured and are being taken to the Armed Forces Capital Hospital. The cause is unknown. It is the first such incident since 2015.
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BREAKING: Trump has called off US airstrikes on Yemen's Houthis, reversing himself in a last minute decision after already deciding to carry them out on Sunday, with commanders having approved target lists and troops loading bombs onto US warplanes as the large-scale operation was just about to begin, per NYT. Trump told advisers on Wednesday he did not favor strikes, ordered the Pentagon to prepare them after MBS urgently called him again on Thursday, then pulled back on Sunday, with most of his inner circle opposed to opening another front given the strain the Iran war has put on the US military. It is the third time MBS has asked Trump to strike the Houthis this month. Just two days ago Yemen's Houthis struck Riyadh's main airport, they now hold Bab el-Mandeb and Yemen's entire Red Sea coast, and the East-West oil pipeline, Saudi Arabia's only export route around Hormuz, is shut after being hit. The US has already used more than half its most advanced Patriot interceptors and a third of its Tomahawks in the Iran war. A campaign in Yemen would draw on the same stocks while inviting retaliation on the Saudi energy infrastructure the Houthis are already hitting, and from Iran, which has threatened every US interest in the region. Saudi Arabia is facing the Houthis without the US.
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