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When the two Iranian F-4 fighter planes flew over Saudi Arabian territorial waters last week, they seemed to set the stage for yet another attack on a tanker doing business with Iran's sworn enemy, Iraq. But this time the story was different: the planes were intercepted by two Saudi F-15 fighters firing air-to-air missiles. One, and possibly both, of the Iranian planes was shot down. A short time later, Iran sent eleven more F-4s into the skies over the Persian Gulf. Again, the Saudis intercepted them. After a brief standoff, the Iranian planes...

Author: /time Magazine | Title: The Gulf: Pushing the Saudis Too Far | 6/18/1984 | See Source »

...Saudi-Iranian encounter came during a relative lull in the fighting. At least two more ships were hit during the week. Iraqi Super Etendards swooped down on the Turkish tanker Buyuk Hun in the vicinity of the Iranian oil terminal at Kharg Island (see box). The ship was set ablaze and had to be abandoned, but its crew was rescued. At week's end Iraq" also claimed its warplanes had hit two "naval targets," otherwise unidentified, near Kharg Island, but the attacks could not be confirmed...

Author: /time Magazine | Title: The Gulf: Pushing the Saudis Too Far | 6/18/1984 | See Source »

Because of the growing risk to shipping, the U.S. Navy acknowledged that it had begun to provide protection for tankers chartered to supply fuel for the American naval ships patrolling the gulf. The Reagan Administration is prepared to extend air and naval cover to other vessels if the tanker war should worsen. Under the plan, the U.S. would establish a sort of naval cordon sanitaire along the western channel of the gulf, through which ships from nonbelligerent nations destined for neutral ports would be escorted. No ships carrying arms or supplies for the warring countries would be included...

Author: /time Magazine | Title: The Gulf: Pushing the Saudis Too Far | 6/18/1984 | See Source »

...stayed a day at Kharg while the tanker was being loaded. That night, as usual, we listened to the BBC and the Voice of America in the captain's cabin. It did nothing for our nerves to hear a BBC report that our ship had supposedly been hit. Later, an Iranian official paid us a visit, accompanied by three Islamic guards in military fatigues. I was dressed in black, but the Iranians insisted that a veil of some sort be found for me. There was nothing suitable on board. Finally, the captain rushed to his bathroom and returnedwith...

Author: /time Magazine | Title: Tense Trip to Kharg | 6/18/1984 | See Source »

...deli very of financial news between the Prussian town of Aachen and Brussels by carrier pigeon. Reuters has become a prime worldwide supplier, with clients in 112 countries, of electronically transmitted, up-to-the-minute data about currency exchange rates, commodity prices, stocks, bonds, even the availability of tanker space. As the operation grew more successful, its owners debated whether to cash in on the gains, and after determining that the company's trust agreement did not bar a stock sale, the directors announced last December the decision to go public...

Author: /time Magazine | Title: Press: Reuters' Hot Financial Flash | 6/11/1984 | See Source »

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