US Resumes Strikes on Iran for the First Time in a Month — Jordan Under Retaliatory Fire
On August 30, American forces struck two Iranian missile installations on Larak Island in the Strait of Hormuz. CENTCOM explained the strike by saying the IRGC was preparing to launch missiles carrying naval mines into the strait. Iran responded with a missile strike on American bases in Jordan. This marks the first US attack on Iran since the end of July — a six-month conflict that Trump had promised to end within four weeks has still found no resolution: shipping through the Strait of Hormuz has been seriously disrupted, and both sides accuse each other of violating the June memorandum, whose term expired back in mid-August.
Trump Calls Venezuela Deal "the Biggest Oil Deal in History"
Amid the deadlock with Iran, Washington has shifted part of its energy strategy toward Venezuela: according to Trump's statement, the United States is gaining control over access to 65 billion barrels of Venezuelan oil, while Chevron is expanding its presence in the country. The president also announced plans to replenish US strategic reserves with Venezuelan oil. Venezuela, meanwhile, is considering withdrawing from OPEC — for those following the oil market, this is a sign that traditional cartel discipline is cracking under the pressure of direct deals with Washington.
Lavrov Calls US and Israeli Actions Against Iran an "Adventure" — Bishkek Summit Amid Escalation
On August 28, Russian Foreign Minister Sergei Lavrov sharply criticized the military actions of the United States and Israel against Iran. The escalation coincided with the SCO summit in Bishkek, where talks between Putin and Iranian President Pezeshkian are expected on August 31 and September 1. At the same time, the Federal Reserve signaled that a September rate hike has become significantly more likely — the probability has risen to 58-60% amid talk of prioritizing the fight against inflation. Three seemingly unrelated tracks — Iran, Venezuela, and monetary policy — are converging at a single point: the autumn promises to be turbulent for anyone budgeting in currency and oil at the same time.
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