War & Conflict with Preston Stewart

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So there’s a major issue in southern Ukraine. The soldiers don’t have enough fuel. Now they’re not completely out but right on that line. Some units have so little that troops are having to stay in position for months on end. That’s a problem.
This affects everything from combat operations to training, logistics to medical evacuation.
So to help break down what’s happening with this, we’re joined today by Rachel Jamison of Protect a Volunteer.
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https://x.com/RachelPAV
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Pretty significant strikes carried out yesterday between the US and Iran showing that we are, once again, in a spiral of escalation with some analysts warning that we’re on a path to return to full scale war.
Looks like Iran fired missiles at US warships. The US responded by striking five Iranian oil tankers and then Iran fired 20 ballistic missiles at a US base in Jordan.
Sources:
https://www.nytimes.com/2026/09/09/world/middleeast/iran-war-us-aggression-hormuz.html?smid=nytcore-ios-share
https://www.cbsnews.com/news/first-on-60-minutes-air-force-officer-shot-down-iran-rescued/
https://x.com/citrinowicz/status/2097447835364925797?s=20
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This update is as of 0900 CDT, 08SEPT2026.
Looks like the Yemen Civil War is back to full scale fighting as the Houthis kicked off an offensive in the south and launched missiles into Saudi Arabia leading the Yemeni government to counterattack saying they plan to wipe out the Houthis once and for all.
Sources:
https://yemen.liveuamap.com/
https://www.aljazeera.com/news/2026/9/8/yemeni-forces-launch-counteroffensive-against-houthis-vow-to-retake-sanaa
https://www.crisisgroup.org/anb/middle-east-north-africa/yemen/houthis-escalate-yemens-western-front
https://www.npr.org/2026/09/08/g-s1-142296/houthi-attacks-saudi-arabia
https://www.nytimes.com/2026/09/08/world/middleeast/saudi-arabia-yemen-houthis-energy-attack.html
https://x.com/BashaReport/status/2096894850159288608?s=20
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Overnight Ukraine struck two more oil refineries in Russia which might seem pretty normal at this point but according to a new assessment in the Wall Street Journal, the costs are really starting to add up.
We also just had Steve Witkoff and Jared Kushner visit Moscow and Kyiv in a new push for peace. From what we can tell, the talks seem to have gone well, and it’s notable these two visited Ukraine at all. However, there’s no indication there’s going to be any major changes anytime soon.
Sources:
https://www.wsj.com/world/russia/how-ukrainian-drone-strikes-are-pounding-russias-economy-a03652a7?mod=hp_lead_pos3
https://www.wsj.com/world/europe/trump-envoys-visit-ukraine-in-new-push-for-peace-talks-ee01b34e?mod=WTRN_pos1
https://kyivindependent.com/us-envoys-witkoff-kushner-arrive-in-ukraine/
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In response to Iran firing missiles at two US warships in the Middle East, the US military just destroyed three Iranian oil tankers. This is actually a pretty big escalation in a few ways. First off, the launching missiles at our aircraft carrier is significant and not something we’ve seen in a while but then the US response was serious, actually sinking commercial vessels in this key waterway.
That said, we’re still at a bit of an impasse where neither Iran nor the US seem willing to give an inch as the pressure mounts in different ways.
Sources:
https://www.wsj.com/world/middle-east/time-is-no-longer-on-irans-side-in-the-battle-of-the-blockades-e47b657d?mod=hp_lead_pos1
https://www.nytimes.com/2026/09/02/video/iran-us-attack-wedding.html
https://www.telegraph.co.uk/world-news/2026/09/04/inside-the-iranian-wedding-bombed-in-us-strike/
https://www.reuters.com/investigations/deadly-strike-iranian-wedding-was-likely-direct-hit-by-us-munition-analysis-2026-09-03/
https://x.com/CENTCOM/status/2096231596449767452?s=20
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In response to Iran firing missiles at two US warships in the Middle East, the US military just destroyed three Iranian oil tankers. This is actually a pretty big escalation in a few ways. First off, the launching missiles at our aircraft carrier is significant and not something we’ve seen in a while but then the US response was serious, actually sinking commercial vessels in this key waterway.
That said, we’re still at a bit of an impasse where neither Iran nor the US seem willing to give an inch as the pressure mounts in different ways.
Sources:
https://www.wsj.com/world/middle-east/time-is-no-longer-on-irans-side-in-the-battle-of-the-blockades-e47b657d?mod=hp_lead_pos1
https://www.nytimes.com/2026/09/02/video/iran-us-attack-wedding.html
https://www.telegraph.co.uk/world-news/2026/09/04/inside-the-iranian-wedding-bombed-in-us-strike/
https://www.reuters.com/investigations/deadly-strike-iranian-wedding-was-likely-direct-hit-by-us-munition-analysis-2026-09-03/
https://x.com/CENTCOM/status/2096231596449767452?s=20
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Tanks are still useful on the modern battlefield. I know that’ll get some folks fired up but look, when you talk to the people actually fighting the war, they want more tanks. That should be a pretty good sign.
But also, we’re not seeing tanks scrapped, but rather technical and tactical adaptations emerge to keep them in the fight, at least for now.
Sources:
https://www.twz.com/land/how-russian-drones-forced-ukraine-to-park-its-m1-abrams-tanks
https://x.com/Black_BirdGroup/status/2096083074240975038?s=20
https://x.com/414magyarbirds/status/2094683844821549418?s=20
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So you might have heard the news that Ukraine has declared the Russian skies closed to commercial aircraft. With Zelensky saying “There are no more safe moments in the sky over Russia” Now Putin didn’t handle this well, at all. I mean right away they referred to this as Ukraine threatening to kill civilians and a clear cut example of state terrorism backed by the west.
But here’s the thing, that’s not at all what happened.
Sources:
https://www.bbc.com/news/articles/c9v9yydy2wvo
https://x.com/Mockingjay_ua
https://x.com/DrnBmbr
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NATO is under attack, has been for some time, but yesterday, it really escalated. Germany just announced that the two men behind the attempted drone attack at the Leipzig airport were acting on behalf of Russian state entities. This is just the tip of the iceberg as Russia ramps up it's hybrid warfare across Europe.

Sources:
https://www.wsj.com/opinion/germany-leipzig-airport-drone-russia-nato-iran-1df66c1e?mod=hp_opin_pos_3

https://apnews.com/article/germany-russia-explosive-drone-leipzig-attack-8a0054face48cc56f6cb6bcf9a8f4b51

https://www.reuters.com/world/eu-some-eu-states-summon-russian-embassy-officials-over-leipzig-drone-attack-2026-09-02/

https://www.dw.com/en/germany-news-explosive-devices-found-near-power-plant/live-78583741

https://www.npr.org/2026/09/02/g-s1-141502/germany-russia-attempted-drone-attack

https://www.independent.co.uk/news/world/europe/germany-train-station-explosion-augsburg-injured-b3043222.html

https://www.politico.eu/article/poland-suspects-foreign-involvement-in-drone-plant-arson-attack/

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While the US kicked off another wave of strikes in Iran last night, it’s pretty clear that our focus is using economic warfare to try to bring this war to a close. And as our guest today mentions, it’s worth noting that economic and military means aren’t mutually exclusive and in many cases can support the other.
To help understand what we’re seeing on the economic side of this war, we’re joined today by Brett Erickson who I think does a great job of summarizing this as a matter of runway. Who has more and what shortens or lengthens that path?
Brett is a financial crime and geopolitical expert whose work operates at the intersection of national security, finance, geopolitics, and institutional governance and serves as the managing principal at Obsidian Risk Advisors.
We get into the US economic warfare strategy, what’s working, what’s not and what to watch for in the coming weeks.
Follow Brett and his work at the links below:
https://www.obsidianriskadvisors.com/
https://x.com/BrettErickson28
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