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The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line

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The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line

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He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead

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Tim Cook signed off on his final Apple earnings call with a warning about a ‘100-year flood’ in memory chip pricing
Politics

Iran minister mocks Trump for ‘begging’ for help on reopening Hormuz, claims attacks came from UAE

By
Jon Gambrell
Jon Gambrell
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Sam Mednick
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Konstantin Toropin
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Samy Magdy
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By
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Jon Gambrell
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Sam Mednick
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The Associated Press
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March 16, 2026, 9:44 AM ET
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Two men ride their motorbike past a billboard of the Iranian Supreme Leader Ayatollah Mojtaba Khamenei in downtown Tehran, Iran, Saturday, March 14, 2026. AP Photo/Vahid Salemi
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Iran urged people Saturday to evacuate the Middle East’s busiest port and two others in the United Arab Emirates, openly threatening a neighboring country’s non-U.S. assets for the first time as its war with the United States and Israel entered a third week.

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Tehran said the U.S. had used “ports, docks and hideouts” in the UAE to launch strikes on Kharg Island, home to the main terminal handling Iran’s oil exports, without providing evidence. It urged people to leave areas where it said U.S. forces were sheltering.

Hours later, there was no sign of an attack on Dubai’s Jebel Ali port — the Mideast’s busiest — or the Khalifa port in Abu Dhabi. But debris from an intercepted Iranian drone hitting an oil facility sparked a fire at the third port, in Fujairah.

Iran says the US attacked from close to Dubai

Iran’s foreign minister, Abbas Araghchi, told MS NOW that the U.S. attacked Kharg Island and Abu Musa Island from two locations in the UAE, Ras Al-Khaimah and a place “very close to Dubai,” calling that dangerous and saying Iran “will try to be careful not to attack any populated area” there.

U.S. Central Command said it had no response to Iran’s claim. A diplomatic adviser to the UAE’s president, Anwar Gargash, said on social media the country has the right to defend itself but “still prioritizes reason and logic, and continues exercising restraint.”

Iran has fired hundreds of missiles and drones at Arab Gulf neighbors during the war, but it has said it was targeting U.S. assets, even as hits or attempts were reported on civilian ones such as airports and oil fields.

On Friday, U.S. President Donald Trump said the country “obliterated” military sites on Kharg Island and that oil infrastructure could be next if Tehran continues to interfere with ships’ passage through the Strait of Hormuz, where one-fifth of global oil supplies usually transit.

Iran’s parliamentary speaker has said strikes against the country’s oil infrastructure would provoke a new level of retaliation.

Araghchi told MS NOW that the strait was closed only to “those who are attacking us and their allies.”

As global anxiety soars over oil prices and supplies, Trump said Saturday that he hopes China, France, Japan, South Korea, the U.K. and others send warships to keep the Strait of Hormuz “open and safe.” Britain in response said it was discussing with allies a “range of options” to secure shipping.

Araghchi, in a social media post, urged neighbors to “expel foreign aggressors” and described Trump’s call as “begging.”

Iran repeats threat against US-linked oil assets

On Saturday, Iran’s joint military command reiterated its threat to attack U.S.-linked “oil, economic and energy infrastructures” in the region if the Islamic Republic’s oil infrastructure is hit.

Iran’s semiofficial Fars news agency said the Kharg Island strikes caused no damage to oil infrastructure. It said they targeted an air defense facility, a naval base, the airport control tower and an offshore oil company’s helicopter hangar.

U.S. Central Command said it destroyed naval mine storage facilities, missile storage bunkers and other military sites.

Israel earlier announced another wave of strikes in Iran targeting infrastructure, and said its air force had hit more than 200 targets in the past 24 hours, including missile launchers, defense systems and weapons production sites.

Another attack on the US Embassy in Baghdad

A missile struck a helipad inside the U.S. Embassy compound in Baghdad on Saturday. No one immediately claimed responsibility for the attack. The embassy complex, one of the largest U.S. diplomatic facilities in the world, has been repeatedly targeted by rockets and drones fired by Iran-aligned militias.

The State Department again warned citizens in Iraq to leave “now,” and by land since commercial flights were not available. It noted that Iran and Iran-aligned militia groups “may continue to target” U.S. citizens, interests and infrastructure.

Meanwhile, Lebanon’s humanitarian crisis deepened, with over 800 people killed and 850,000 displaced as Israel launched waves of strikes against Iran-backed Hezbollah militants.

Marines and an assault ship will add to US forces

A U.S. official said Friday that 2,500 more Marines with the 31st Marine Expeditionary Unit and the amphibious assault ship USS Tripoli were being sent to the Middle East, adding to the military’s largest buildup of warships and aircraft in the region in decades. The official spoke on condition of anonymity to discuss sensitive military plans.

Marine Expeditionary Units can conduct amphibious landings but also specialize in bolstering security at embassies, evacuating civilians and providing disaster relief. The deployment doesn’t necessarily indicate that a ground operation will take place. The Wall Street Journal first reported the Marine deployment.

The Tripoli was spotted by commercial satellites sailing near Taiwan, putting it more than a week away from waters off Iran.

Earlier in the week, the Navy had 12 ships, including the aircraft carrier USS Abraham Lincoln and eight destroyers, in the Arabian Sea. The total number of U.S. service members on the ground in the Middle East is not clear.

US identifies 6 killed in military aircraft crash

The U.S. Department of Defense on Saturday identified six service members who died when the military refueling aircraft they were aboard crashed Thursday while supporting operations against Iran.

The service members were Maj. John A. Klinner, 33; Capt. Ariana G. Savino, 31; Tech. Sgt. Ashley B. Pruitt, 34; Capt. Seth R. Koval, 38; Capt. Curtis J. Angst, 30; and Tech. Sgt. Tyler H. Simmons, 28, according to U.S. officials.

The crash in western Iraq followed an unspecified incident involving two aircraft in “friendly airspace,” according to U.S. Central Command. The other plane landed safety.

___

Mednick reported from Tel Aviv, Israel, Magdy from Cairo and Toropin from Washington. Associated Press reporters Melanie Lidman in Jerusalem; Sally Abou AlJoud, Kareem Chehayeb and Bassem Mroue in Beirut; Qassim Abdul-Zahra in Baghdad; Will Weissert at Joint Base Andrews, Maryland; Tia Goldenberg in Washington and Hannah Schoenbaum in Salt Lake City contributed.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
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