“The Middle East war is widening, but that may be better than the alternative: new inflationary pressure from an obscure fundamentalist militia 8,000 miles from US shores.
The US and UK militaries finally struck back at Houthi forces in Yemen on Jan. 11 and 12, in response to at least 27 Houthi attacks on commercial ships navigating the Red Sea between northern Africa and Saudi Arabia. There were legitimate military reasons for the retaliatory strikes, given that the Houthis have targeted US and allied forces, including Israel. But there was a powerful economic incentive too: The attacks on commercial vessels were starting to drive up shipping costs and threatening to reignite inflation, just as the Biden administration feels it is finally taming the biggest barrier to a second term for President Biden.
The Red Sea is a crucial shipping lane because the Suez Canal, at its northern tip, connects waters that serve Western markets with the Indian Ocean and routes to Asia. Ships unable to transit the Red Sea need to take the much longer and costlier journey around the southern tip of Africa. About 15% of world trade transits the area.”
“”the [Biden] administration declassified intelligence indicating that Iranian paramilitary groups were coordinating the Houthi attacks, providing targeting information about commercial shipping passing through the waterway and the Suez Canal.””
“The Islamic State group claimed responsibility Thursday for two suicide bombings targeting a commemoration for an Iranian general slain in a 2020 U.S. drone strike, the worst militant attack to strike Iran in decades as the wider Middle East remains on edge.
Experts who follow the group confirmed that the statement, circulated online among jihadists, came from the extremists, who likely hope to take advantage of the chaos gripping the region amid Israel’s war on Hamas in the Gaza Strip.
Wednesday’s attack in Kerman killed at least 84 people and wounded an additional 284. It targeted a ceremony honoring Revolutionary Guard Gen. Qassem Soleimani, held as an icon by supporters of the country’s theocracy and viewed by the U.S. military as a deadly foe who aided militants who killed American troops in Iraq.”
“Tehran has enough enriched uranium to produce a nuclear weapon in only 12 days according to data collected from the International Atomic Energy Agency (IAEA).
Iran is essentially a nuclear threshold state given their stockpile of uranium, with estimated enrichment levels as high as 84%. For context, 90% is the benchmark for full breakout capability. International sanctions on the regime’s ballistic missile program have also been allowed to expire, giving the regime carte blanche to further develop and proliferate the delivery vehicles necessary for a potential strike with the ability to reach Tel Aviv, Haifa, or even a European capital.”
“Iran has finalized an agreement with Russia to buy Su-35 fighter jets, Mi-28 attack helicopters, and Yak-130 jet trainers, Iran’s Deputy Defense Minister Mahdi Farahi said on Nov. 28, the semi-official Iranian news agency Tasnim has reported.
In a conversation with the outlet, Farahi said that these three advanced military aircraft will be at Iran’s disposal, and the relevant processes are “currently underway.””