Iran War: A Strategic Folly Causing Global Economic Ruin

The US-Israel war on Iran has triggered irreversible global economic damage. By permanently altering control over the Strait of Hormuz, Tehran has introduced a lasting risk premium into energy markets. This conflict has also cemented China as the dominant force in oil markets, accelerating the global energy transition on adversaries' terms. The US now faces soaring inflation, weakened economic standing, and a geopolitical quagmire—a stark lesson in how misguided policy boomerangs, harming the initiator far more than its intended target.

https://www.tehrantimes.com/news/529870/Strategic-folly-of-Iran-war-a-global-economic-catastrophe

Iranian Illustrator Shines as Finalist at 2026 Golden Pinwheel Competition

Maryam Mahmoudi Moghadam has been named among 50 finalists at the 2026 Golden Pinwheel Young Illustrators Competition in Shanghai, selected from over 2,100 entrants worldwide. She is the only Iranian artist on the list, representing 19 countries. Her work comes from the children's book "Muri and Guri" by Ahmad Akbarpour, which has previously won multiple international awards. The finalists' artworks will be exhibited in November at the China Shanghai International Children's Book Fair and featured in the annual yearbook, with a public vote for the People's Choice Award.

https://www.tehrantimes.com/news/529857/Iranian-illustrator-among-finalists-of-2026-Golden-Pinwheel-Young

Iran Showcases Vibrant Art Scene at Cosmoscow Fair for Third Year

Iran has participated in the 14th Cosmoscow International Contemporary Art Fair for the third consecutive year, presenting works from over 50 artists through eight galleries. The dedicated "Persian" section featured both modern masters and contemporary talents, receiving a warm reception from Russian visitors. Ambassador Kazem Jalali highlighted the event's role in fostering cultural ties and building trust in the Russian art market. Fair Director Margarita Pushkina praised Iran's rich artistic heritage, while Cultural Attaché Abdolreza Rashed emphasized this presence as a powerful example of cultural diplomacy beyond official channels.

https://www.tehrantimes.com/news/529839/Iran-attends-Cosmoscow-International-Contemporary-Art-Fair-for

President Masoud Pezeshkian will depart for New Delhi on Friday to attend the 18th BRICS Summit of Heads of State.

Iran to UN: Snapback mechanism has no legal basis

🔹Iran's Permanent Mission to the UN stated that the so-called activation of the "snapback" mechanism by the European Troika was never legally valid, citing the E3's widespread non-compliance with the JCPOA and Resolution 2231.

🔹"With the expiration of Resolution 2231 on October 18, 2025, all nuclear-related provisions, measures, and restrictions permanently ended. There is no legal basis for the alleged activities of Committee 1373," the mission said.

🔹It stressed that UN Security Council procedures must serve international peace and security, not be a tool for political accusations or a cover for illegal actions.

Iran, Saudi FMs discuss regional escalation, stress diplomatic efforts

🔹Foreign Minister Abbas Araghchi held a phone call with Saudi counterpart Prince Faisal bin Farhan to exchange views on the latest regional developments.

🔹Both sides noted the escalation of tensions and growing insecurity in the region, emphasizing the need for continued cooperation and diplomatic efforts to prevent further spread of tensions and restore stability and security.

Iran FM, Pakistani Army chief discuss regional escalation, coordination

🔹Foreign Minister Abbas Araghchi and Pakistani Army Chief Field Marshal Asim Munir held a phone call on Thursday evening to discuss the latest regional developments.

🔹Both sides exchanged views on escalating tensions, growing insecurity in the region, and its consequences for regional peace and stability.

🔹They emphasized the need for vigilance and coordination among regional countries, stressing the use of shared capacities to help establish lasting peace and security.

Ghalibaf: Yemen's brave nation will be victorious, God willing

🔹Parliament Speaker Mohammad Bagher Ghalibaf reposted a statement from the martyred Leader of the Islamic Revolution, Ayatollah Seyyed Ali Khamenei, writing: "Yemen's brave nation will be victorious, God willing."

🔹The post referenced a statement from two years ago in which the martyred Leader expressed hope that the struggles, resistance, and activities of the Yemeni people would continue—"until victory, by God's grace."

Ansarullah: Yemeni forces take full control of all Yemeni islands in Red Sea

🔹Hizam al-Asad, a member of Ansarullah's political bureau, told Russia's Novosti news agency that Yemeni Armed Forces have gained complete control over the port of Mokha, the strategic island of Mayun (Perim), and all Yemeni islands in the Red Sea.

🔹The announcement marks a significant shift in the balance of power in the strategic waterway, following recent Yemeni military operations targeting Saudi oil facilities and shipping.

IRGC Navy destroys US unmanned vessel in Strait of Hormuz

🔹The IRGC Navy announced that it destroyed an American unmanned surface vessel—identified as a "Sail Dragon" type, hull number 5838—at the entrance to the strategic Strait of Hormuz.

🔹The US terrorist army had deployed unmanned vessels to the Strait in recent days out of fear of confronting IRGC fighters, the statement said.

🔹"The Strait of Hormuz is blocked and under our intelligent control and intelligence dominance. Any hostile presence in this strategic waterway will be targeted," the IRGC Navy declared.

IRGC Navy commander: Any hostile movement will be targeted

🔹IRGC Navy Commander Rear Admiral Ali Azmaei confirmed that a US terrorist army spy drone vessel—identified as "Sail Dragon," hull number 5838—was struck in the Strait of Hormuz.

🔹"The Strait of Hormuz is blocked and under our intelligence dominance and smart control. Any hostile movement will be targeted," he stated.

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Lighthouse E04: A spotlight on the news you might have missed

Pezeshkian arrives in New Delhi for BRICS summit

New round of Lebanon-Israel talks to be held in Rome

🔹Despite no progress in previous direct negotiations, Israeli media reported a new round of talks between Lebanon and the Zionist regime will be held in Rome on Tuesday and Wednesday

Iran, South Korea FMs hold phone call on regional developments

🔹Foreign Ministers Abbas Araghchi and Cho Hyun held a telephone conversation on Friday morning to discuss the latest regional developments.

🔹The call comes after Iran's Foreign Ministry spokesman warned South Korea earlier this week that any military presence in the Persian Gulf and Strait of Hormuz would be considered "direct support for the American aggressor" with serious consequences.

Araghchi: American people should not pay for Israel's wars

🔹Foreign Minister Abbas Araghchi responded to acting US Navy Secretary Hung Cao's admission that Iran's Armed Forces "leveled the US Fifth Fleet headquarters in Bahrain," saying the statement deserves gratitude for its candor.

🔹"He is right—our powerful Armed Forces did indeed level the US Fifth Fleet headquarters in Bahrain, just as they did with other bases supporting US aggression," Araghchi wrote on X.

🔹"The American people should not have to pay the price for Israel's wars."

Baghaei: Iran committed to ensuring maritime security in Strait of Hormuz

🔹Foreign Ministry Spokesman Esmail Baghaei stated that Iran is committed to ensuring maritime security in the Strait of Hormuz, but stressed that this cannot be guaranteed as long as US aggression—including the naval blockade and economic war—continues.

🔹"Iran considers itself committed to efforts to secure shipping in the Strait, but naturally, as long as US aggressive actions and illegal interventions continue, maritime security cannot be guaranteed," he said.

Araghchi: US debt financing crisis is just the beginning

🔹Foreign Minister Abbas Araghchi stated that the crisis stemming from the cost of financing US debts "is just the beginning," as global confidence in the American financial system erodes.

🔹"The US Treasury Secretary proudly boasts of wanting to impoverish Iranians and collapse our economy. But instead, he stands helpless before public opinion—while the world increasingly loses trust in the US financial system," Araghchi wrote on X.

🔹He added: "The crisis caused by the cost of financing US debts is only the start of the story."

Iran President Pezeshkian meets India PM