The text says “Herat Afghanistan”.
The same text appears in the lower register in this rug, but is to be read from above.
Below is an image of a similar rug Graham Gower has sent in from his collection. No aeroplanes, missiles, or explosions in the sky, but tanks on the street – and one with a wheel missing. None of the borders relate to each other in these four examples, which suggests none of them where made by the same hands.
And let’s not try to interpret the rules of the road in Herat from these images!