Cracks in US-Gulf alliances; Israel defenses running out; France sends warship that isn't needed; Insider trading - IRAN WAR NEWS - 7-May-2026

Israel Will Bleed America Dry and Discard It Like an Old Shoe - Global Research

In reality, Israel is no one's actual ally even though totally bought and paid for American politicians delight in repeating that fable. Alliances are by their very nature reciprocal and Israel has entered into no agreement to aid any other country that might come under attack. Indeed, even defining an attack on Israel is problematical as it has no fixed borders since it is an occupying power over much of what was once Palestine.

The US, on the contrary, has not helped matters by repeatedly pledging an "ironclad" commitment to "defend" Israel even if the Jewish state were to start a war, which is precisely what we are seeing at the present time vis-à-vis the assassinations and other saber rattling by Netanyahu being directed against Lebanon, Syria and, most of all, Iran. In reality, Israel could care less about the lives or well-being of Americans, Brits and the others whom their sacred text the Talmud and many Israelis regard as subhumans that only exist to serve Jews.

Saudi Arabia, Kuwait cut US base, airspace access, forcing pause of Trump's 'Project Freedom' | Middle East Eye

US President Donald Trump's abrupt reversal on his "Project Freedom" plan to help ships go through the Strait of Hormuz came after Saudi Arabia suspended US access to Prince Sultan Airbase and Saudi airspace to carry out the operation, NBC News reported, citing two US officials.

The report said that Trump's announcement of the plan on social media on Sunday afternoon frustrated the leadership in Saudi Arabia. The kingdom then informed the US that it would not support the plan.

Drop Site later reported that a US administration official confirmed that Kuwait also cut off US access to its bases and airspace.

Morning update | Middle East Eye

The US and Iran are moving closer to a one-page memorandum to end the war in the region, several reports have indicated.

Meanwhile, intensifying Israeli attacks on Lebanon have escalated worries of a collapse in the current ceasefire. Lebanese officials reported that least 16 people have been killed in Israeli assault across south and east Lebanon on Wednesday.

Here are some other notable developments:

• An Israeli strike on Beirut's southern suburbs on Wednesday killed a senior commander from Hezbollah's elite force, a source close to the group told AFP. The attack on the Lebanese capital is the first since the truce deal began in April.
• Hezbollah said its fighters launched 17 attacks on Israeli forces operating inside Lebanon on Wednesday.
• Iran has formally denied any involvement in an explosion that hit a South Korean cargo ship in the Strait of Hormuz earlier this week. US President Donald Trump previously claimed that the country had "taken some shots" at the vessel, urging Seoul to join Washington operations in the waterway.
• Israeli shelling and strikes have escalated in Gaza, with a recent assault reported in Gaza City killing at least one Palestinian as well as seriously wounding the son of Hamas leader Khalil al-Hayya and several others.
• Late on Wednesday, Israeli forces carried out a raid in the western countryside of Daraa province, south Syria, according to the Syrian state news agency SANA.

Around 1,600 vessels still stranded near Hormuz Strait | Middle East Eye

About 1,600 vessels are still stranded nearby the Strait of Hormuz, with 32 ships having been struck with missiles since the start of the war in late February.

'Israel's' multi-front wars hit breaking point: 81% defenses gone - YouTube

What was once flexed as military flexibility is increasingly described as a strain on Israeli manpower, equipment, and long-term operational capacity.

Reserve soldiers are being rotated again and again, units are shifted from one front, from Gaza, Lebanon, to Iran, just to plug gaps on another, and what was meant to be "readiness" is starting to look more like exhaustion.

Even the Air Force, long seen as "untouchable", is under pressure from nonstop operational tempo and equipment strain.

For instance, "Israel" had to halt attacks on Iran so it could concentrate on wide-scale attacks on Lebanon shortly after a ceasefire was announced.

French warship moves towards Hormuz for possible defensive mission | US-Israel war on Iran News | Al Jazeera

A French aircraft carrier is heading south of the Suez Canal and into the Red Sea in preparation for a possible defensive mission aimed at restoring safe navigation through the Strait of Hormuz, the strategically critical waterway that has been effectively blocked amid the US-Israel war on Iran.

Trump's Bogus Claims About Progress in Talks with Iran Just Made Some Insider a Lot of Money

President Donald Trump abruptly paused "Project Freedom" - a US military operation to escort ships through the Iranian-blockaded Strait of Hormuz - roughly 36 hours after it began. According to NBC News, the reversal came after significant backlash from key Gulf allies, particularly Saudi Arabia. Trump announced the operation via social media on Sunday, surprising Gulf partners. In response, Saudi Arabia suspended US access to Prince Sultan Airbase and Saudi airspace, which are critical for providing air cover (fighters, tankers, and defensive umbrella) to ships transiting the strait. A phone call between Trump and Crown Prince Mohammed bin Salman failed to resolve the dispute. Other allies (e.g., Qatar, Oman) were also caught off guard, with coordination occurring only after the public announcement.

Now here is the kicker:

In response, the Kingdom informed the U.S. it would not allow the U.S. military to fly aircraft from Prince Sultan Airbase southeast of Riyadh or fly through Saudi airspace to support the effort, the officials said.

A call between Trump and Saudi Crown Prince Mohammed bin Salman did not resolve the issue, the two U.S. officials said, forcing the president to pause Project Freedom in order to restore U.S. military access to the critical airspace.

This means that previous plans for a renewed attack on Iran will not happen this week. However, the disinformation put out by the White House made someone a lot of money. The Kobeissi Letter on X has the story:

According to our analysis, ~$920 million worth of crude oil shorts were taken 70 minutes before an Axios report claimed the US and Iran were near a "14-point" deal to end the war.

At 3:40 AM ET today, nearly 10,000 contracts worth of crude oil shorts were taken without any major news. This is equivalent to ~$920 million in notional value, an unusually large trade for 3:40 AM ET.

At 4:50 AM ET, just 70 minutes later, Axios reported that the US is "close" to a "memorandum of understanding" to end the Iran War.

By 7:00 AM ET, oil prices had fallen over -12% with these crude oil shorts gaining approximately +$125 million. Minutes later, Iran launched the "Persian Gulf Strait Authority" and oil prices surged +8%.

No Bets With Classified Info: US State Dept. Warns Diplomats Against Insider Trading

The US State Department has issued a warning to all diplomats worldwide emphasizing that nonpublic information may not be used for placing wagers on online prediction markets, The Wall Street Journal reported.

"The misuse of nonpublic information by Department employees for financial benefit is a very serious offense and will not be tolerated," an internal memo warned.

The warning comes as wagers pour into markets tied to alleged US-Iran talks, possible American military moves, and other sensitive foreign policy issues.

Apparently, US diplomats had to be told that betting on coups, wars, and back-channel talks using classified information risks more than just a bad return.