VFI News Iran Strikes UAE Oil Port; Antisemitism Surges on American Campuses and Streets

Iran's currency has collapsed to 1.9 million rials to the dollar. With 45,000+ dead in street protests and the central bank governor publicly breaking ranks, is the regime finally cracking?

This week's BFI News from Israel covers one of the most consequential moments in the Iran-US standoff yet. We break down the Strait of Hormuz crisis, the devastating economic collapse inside Iran, Israel's massive new defence purchases, and what it all means for the region going forward.

Iran's infrastructure has taken an estimated $270 billion in damage — nearly 60% of its entire GDP. Over a million jobs gone. The rial rendered virtually worthless. And now even regime insiders are publicly calling for a ceasefire. Meanwhile, US Navy vessels successfully escorted civilian shipping through the Strait under "Project Freedom," and Israeli and American forces are reportedly preparing for a sharp new campaign of strikes.

We also look at the ripple effects on Israel's economy, rising global inflation tied to energy supply disruptions, and the IDF's newly announced purchase of F-35I and F-15IA fighter squadrons.

⏱️ CHAPTERS

0:00 Introduction — This Week's Headlines

1:20 Strait of Hormuz — Project Freedom & Iranian Attacks

5:45 Iran's Economic Catastrophe Explained

11:30 Regime Cracks & Street Protests

16:10 Global Economic Fallout & Israel's Economy

21:00 IDF Defence Purchases — F-35I & F-15IA Squadrons

25:40 Final Analysis & Prayer

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Shalom and God bless.

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Iran struck the Fujairah Oil Industry Zone in the United Arab Emirates on Monday night, May 4, launching roughly a dozen ballistic missiles, three cruise missiles, and four drones at the port complex. The barrage set the facility ablaze and injured three Indian nationals working at the site. Global oil prices jumped approximately 6 percent in the immediate aftermath of the assault.

Iranian state media followed the attack by announcing a new “Strait Authority” that will issue transit permits for ships passing through the Strait of Hormuz, while the Islamic Revolutionary Guard Corps published a map showing claimed Iranian control extending across the Gulf to Fujairah and Khorfakkan. Indian Prime Minister Narendra Modi, Saudi Arabia, the Gulf Cooperation Council, the Arab League, Lebanon, Jordan, Pakistan, Japan, and multiple European powers all condemned the strike. U.S. Gen. Dan Caine stated that the attack was “successfully defeated,” and Defense Secretary Pete Hegseth warned of “overwhelming and devastating” retaliation should Iran target American forces or commercial shipping lanes.

President Donald Trump told reporters the strike did not rise to the level of “heavy firing” that would break the existing ceasefire framework with Tehran. The Fujairah port serves as a critical bypass route for oil exports that avoids the heavily contested Strait of Hormuz, making the attack a direct challenge to Gulf shipping security and energy stability. Regional powers are now weighing how to respond to Iran’s expanding territorial claims over Emirati waters and key maritime chokepoints. (BB/VFI News)

Dear Lord, we pray in Yeshua’s Name that You restrain the aggression of Iran and shield our allies in the Gulf from further attack. Please strengthen the resolve of nations standing against terror and grant wisdom to the leaders weighing how to respond. We pray for the wounded workers and for safe passage through these vital sea lanes. We ask that You break the schemes of the Islamic Republic and deliver the Iranian people from the oppression of their leaders, drawing them to Your saving truth.

A joint Rapid Damage and Needs Assessment released April 20 by the European Union, United Nations, and World Bank estimates Gaza’s recovery and reconstruction needs at $71.4 billion over the next decade. The assessment calls for $26.3 billion within the first 18 months alone to begin meaningful rebuilding. Physical infrastructure damage accounts for $35.2 billion of the total, while economic and social losses reach $22.7 billion.

The assessment documents that approximately 371,888 housing units have been damaged or destroyed across the territory, more than half of all hospitals are no longer functional, and nearly every school has sustained damage or been destroyed entirely. The Gaza economy has contracted 84 percent since hostilities began, and roughly 1.9 million residents remain displaced from their homes. The findings warn that human development indicators in Gaza have been pushed back by 77 years.

The scale of the projected rebuild raises pressing questions about international funding commitments, oversight mechanisms, and the political authority that will manage reconstruction. With Hamas governance dismantled by Israeli operations, donors are weighing how to channel aid without empowering the terror group’s return. The assessment is expected to shape the agenda at upcoming donor conferences and frame negotiations over post-war Gaza governance. (UN/VFI News)

“He heals the brokenhearted and binds up their wounds.” – Psalm 147:3

Roughly 100 demonstrators organized by Pal-Awda NY/NJ gathered outside the Park East Synagogue on East 67th Street in Manhattan on Tuesday, May 5, targeting an Israeli real estate forum being held inside. Several hundred additional protesters assembled near Hunter College in a coordinated action. Chants from the crowd included “Death to the IDF,” “Israel should not exist,” and “There is only one solution, intifada revolution.”

Demonstrators attempted to push past police barricades, prompting NYPD officers to shove them back into designated protest zones. One officer suffered a leg injury and was hospitalized, and police reported that water was thrown on officers from a building along the protest route. The barricades had been authorized under recent New York City Council legislation passed 44-5 with veto-proof support. Mayor Zohran Mamdani declined to sign the measure, allowing it to become law automatically on April 25.

Counter-protesters carried signs reading “Antizionism is a hate movement” and stood vigil for synagogue worshippers. Police initially described the protest as orderly and made no arrests at the scene, though investigations into the officer assault and the water-throwing incident remain ongoing. The clash marks the latest escalation in anti-Israel activism targeting Jewish institutions and events across New York City. (FOX/VFI News)

Our Heavenly Father, we lift up the Jewish community in New York and across the diaspora as antisemitism rises again in city streets. Please protect Jewish worshippers, synagogues, and institutions from harm and surround them with Your shield of favor. Strengthen and watch over the police officers tasked with keeping order, and bring full healing to the injured officer. We pray that You expose the lies driving these movements of hatred and turn the hearts of those caught up in them toward truth and repentance, in Yeshua’s Name.

Cornell University President Michael Kotlikoff was followed to his vehicle on April 30 by members of Students for a Democratic Cornell after he delivered introductory remarks at a Cornell Political Union debate featuring Norman Finkelstein. The debate centered on whether Israel’s response to the October 7 attacks was justified. Protesters surrounded Kotlikoff’s vehicle and questioned him about Cornell’s discipline policies regarding pro-Palestinian student conduct.

Kotlikoff says he waited until his backup camera showed clear space behind the vehicle before maneuvering out, relying on pedestrian-alert and automatic-braking systems to avoid contact. Students Aiden Vallecillo and Hudson Athas allege the car backed into them, and one yelled that the vehicle had run over his foot. Cornell Emergency Medical Services responded to a foot injury call at the scene. Both sides have released competing video footage, with protesters’ clips suggesting contact and Cornell’s enhanced surveillance footage showing the students milling around afterward without obvious injury.

Kotlikoff characterized the encounter as “harassment and intimidation” by activists targeting him personally. The Cornell chapter of the American Association of University Professors has called for an independent investigation into the incident. The episode adds to mounting tension at Cornell, which agreed in November 2025 to a $60 million settlement with the Trump administration to resolve federal antisemitism allegations. (JPost/VFI News)

“Do not be overcome by evil, but overcome evil with good.” – Romans 12:21

Immerse yourself in the timeless beauty of "Ve'Shamru," a soul-stirring song performed by Barry and Batya Segal. Inspired by the sanctity of the seventh day as described in scripture, this uplifting melody captures the essence of God's gift of Shabbat to His people. Join us as we celebrate the holiness of the Sabbath. Experience the powerful harmonies and heartfelt lyrics that resonate with the timeless tradition of honoring God's commandments.

Outgoing University of Michigan Faculty Senate chair Prof. Derek Peterson used his Saturday, May 2 graduation address to direct the audience to “Sing for the pro-Palestinian student activists, who have, over these past two years, opened our hearts to the injustice and inhumanity of Israel’s war in Gaza.” UMich President Domenico Grasso quickly issued a public apology, calling the comments “hurtful and insensitive.” Grasso added that Peterson allegedly deviated from his prepared remarks and did not represent the institution’s neutrality position.

Regent Sarah Hubbard publicly described Peterson’s conduct as “unbecoming” of a faculty leader. GOP regency candidates Michael Schostak and Lena Epstein called for concrete accountability measures, including placing Peterson on leave without pay, stripping his administrative support, and cutting his expense budget. Hillel and the Anti-Defamation League of Michigan condemned the speech, while Students Allied for Freedom and Equality, the local Students for Justice in Palestine chapter, celebrated his remarks publicly.

Peterson also lauded the first Jewish UMich professor moments earlier in the same address, complicating the picture for university officials weighing a response. The University of Michigan currently sits among 59 universities under a U.S. Department of Education civil-rights investigation tied to campus antisemitism complaints. UMich regents’ homes have been repeatedly vandalized by activists since 2024, raising the stakes of the present controversy. (JPost/VFI News)

“The fear of the Lord is the beginning of wisdom, and the knowledge of the Holy One is understanding.” – Proverbs 9:10

Texas Gov. Greg Abbott sent a letter on Wednesday, May 6, to Grand Prairie Mayor Ron Jensen threatening to pull $530,000 in state public-safety grants if the city did not cancel a “DFW Epic Eid” celebration scheduled for June 1 at the city-owned Epic Waters Indoor Waterpark. The letter set a deadline of Monday, May 11, for the city to act. By Wednesday night, Grand Prairie officials had announced the cancellation of the event.

An early promotional flyer for the celebration described it as “Muslim only,” language that Abbott called “religious discrimination” in his letter to the mayor. Organizers later updated the wording to emphasize a modest dress code requiring burkinis for women and swim trunks plus shirts for men, and clarified that non-Muslims who followed the dress code would also be welcome to attend. Abbott pointed to Texas House Bill 4211, which he said bans “Muslim-only no-go zones” within the state.

Grand Prairie officials said the cancellation was made “in the best interest of the City of Grand Prairie” without elaborating further on the funding pressure. Event organizer Aminah Knight pushed back on the governor’s framing, stating that the goal of the dress code was modesty rather than exclusion of any group. The dispute highlights ongoing tensions between religious accommodation, public-facility access, and state oversight of municipal programming in Texas. (FOX/VFI News)

President Donald Trump signed a Jewish American Heritage Month proclamation on Monday, May 4, designating sundown May 15 through nightfall May 16 as a national Shabbat, branded “Shabbat 250” in honor of the country’s 250th anniversary. Multiple Jewish organizations describe the proclamation as the first time a sitting U.S. president has formally called for a national Shabbat observance. The designation directly links Sabbath rest to America’s semiquincentennial celebrations.

The proclamation cites George Washington’s 1790 letter to the Touro Synagogue in Newport, Rhode Island, and honors Revolutionary financier Haym Salomon for his role in funding American independence. The text also includes a line stating that the administration is “aggressively fighting the violence against Jewish Americans that increased under my predecessor.” Chabad, Agudath Israel, the Religious Zionists of America–Mizrachi, and the Israel Heritage Foundation have all praised the move.

The Shabbat 250 observance falls on the same weekend as “Rededicate 250,” a Trump-launched national prayer event tied to the broader Freedom 250 semiquincentennial initiative. Synagogues and Jewish communal organizations are preparing programming to mark the weekend across the United States. The proclamation comes amid heightened concern over rising antisemitism on college campuses and in major American cities. (CH/VFI News)

Father God, we thank You for this unprecedented presidential call to honor the Sabbath and to bless the Jewish community in America. We pray that the Shabbat 250 weekend would be a time of genuine rest, prayer, and spiritual renewal across the United States. Please use this moment to push back the rising tide of antisemitism and to draw both Jew and Gentile closer to Your Word. We ask Your blessing on the Jewish people and on America during her 250th year, in Yeshua’s Name.

On April 17 in Beaverton, Oregon, 4-year-old Nova Hallett was at home with her 76-year-old grandmother, Charlene, and her baby brother when Charlene fell, struck her head, and became disoriented and bleeding. Rather than panicking at the sight of her injured grandmother, Nova ran out of the apartment complex and flagged down a passing neighbor. She calmly explained what had happened so the neighbor could call 911 for emergency assistance.

When officers arrived on scene, Nova led them directly to the unlocked apartment so first responders could reach Charlene without delay. Charlene was hospitalized for approximately one week following the fall and has since returned home to recover. Nova’s mother, Haley Rose, watched part of the rescue unfold through a doorbell camera while driving home from work that afternoon.

When Haley told her daughter over the phone that paramedics were helping Grandma, Nova replied simply, “Okay, I saved Grandma!” The family has credited the preschooler’s quick thinking and composure with making the difference in Charlene’s recovery. The story has resonated widely as a reminder that courage and presence of mind can come from the most unexpected places. (THV11/VFI News)

“Out of the mouth of babes and nursing infants You have ordained strength.” – Psalm 8:2

The suggestions, opinions, and scripture references made by VFI News writers and editors are based on the best information received.

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