MOSCOW, September 1. /TASS/. The US and Iran resumed hostilities after a one-month lull; the EU is preparing to fund Ukraine beyond 2028; and the recap of Russian President Vladimir Putin’s first day in Bishkek at the SCO summit. These stories topped Tuesday’s newspaper headlines across Russia.
Izvestia: US-Iran war resumes after month of lull in hostilities
The US has blocked all attempts by the Persian Gulf states to resolve the conflict with Iran. In the early morning hours of August 31, the two sides clashed once again: the Americans attempted to destroy missile launchers on Larak Island, prompting the Iranian army to target US military bases in Jordan and the UAE. Washington justified its actions by claiming that the Iranians were allegedly preparing to lay mines in the Strait of Hormuz.
Meanwhile, the US is intensifying economic pressure on Tehran and its partners. The US Treasury Department stated that it would impose secondary sanctions every week for financial transactions with Iran.
Washington’s attack has effectively undermined the efforts of mediators from Oman, Qatar, and Pakistan to achieve a regional settlement, international relations expert Yelena Suponina told Izvestia. The reason for such steps lies in US President Donald Trump’s lack of a long-term strategy, Konstantin Blokhin, a leading researcher at the Russian Academy of Sciences’ Center for Security Studies, noted. According to him, the US leader "flits" from one foreign policy agenda to another just to be remembered as one of the greatest presidents in US history. As a result, the Americans are unable to focus solely on the Middle East, creating chaos with their actions.
The White House’s economic pressure could prove more dangerous than direct military clashes, for which Tehran has historically been prepared, Suponina added. In turn, Blokhin emphasized that Washington will certainly not succeed in alienating China, the main importer of Iranian oil and, at the same time, a partner in BRICS and the SCO. Trump has already imposed restrictions on Chinese banks. The international community is still far from reaching a consensus in this standoff: Tehran will continue to receive the necessary goods, services, and political support through third countries anyway, the expert concluded.
This latest escalation in the Middle East highlights the failure of diplomatic efforts and Washington’s return to a force-based approach. While this strategy is unlikely to force Iran to capitulate, it will undoubtedly destabilize global energy markets and intensify the pre-election struggle within the US.
Media: EU readies to fund Ukrainian conflict beyond 2028
Brussels hopes to integrate Ukraine’s defense-industrial complex into the European defense industry in the long term. The EU intends to continue bringing the defense sectors closer together and expanding joint projects with Ukraine. The two parties are already harmonizing standards, developing joint production, and preparing the groundwork for continued support for Kiev beyond 2028. However, the Russian Foreign Ministry views these plans as an attempt to extend the conflict. Meanwhile, following CIA Director John Ratcliffe’s recent visit to Moscow, Kiev has once again begun discussing potential contacts on peace as early as September.
The policy of integrating the defense sectors of the EU and Ukraine has been established in the bloc’s documents for years, but Brussels has recently accelerated the process. In the roadmap for defense readiness through 2030, Kiev is considered part of the European defense industrial base. "The European Commission is actively working to deepen Ukraine’s integration into the European defense technology and industrial base, as well as expand practical cooperation between Ukrainian and European defense industries," a spokesperson told Izvestia.
Meanwhile, the Russian Foreign Ministry is highlighting Brussels’ longer-term plans, in particular, the Ukraine Reserve financial mechanism totaling approximately 100 billion euros in the draft EU budget for 2028-2034. "We view this move as yet another deliberate attempt to prolong the conflict in Ukraine," Russian Foreign Ministry's European Affairs Department Director Vladislav Maslennikov noted.
At the same time, a diplomatic settlement to the conflict remains stalled. The EU is still not directly involved in the negotiation process, although discussions on the need for its own contacts with Moscow have been underway within the bloc since the beginning of the year. "It's clear that the EU's negotiations aim to give the Ukrainian armed forces a respite from combat operations, to save the Zelensky regime by any means necessary, to preserve Ukraine as a springboard for ‘containing’ Russia, and, in essence, to create constant threats to our security," Maslennikov stressed.
Meanwhile, the US goal is to secure concessions from Russia so that Moscow will agree to the terms sought by the European war party and Kiev, Dmitry Suslov, deputy director of the Center for Comprehensive European and International Studies at the Russian National Research University Higher School of Economics, told Vedomosti. He explained that US envoys Steve Witkoff and Jared Kushner will resume their mediation efforts between Russia and Ukraine once the US administration acknowledges the reality of the situation: Moscow is winning on the battlefield. Moreover, according to him, Washington has so far been unable to pressure either Kiev or Europe.
Vedomosti: Recap of first day of President Vladimir Putin’s visit to Bishkek for SCO summit
Vladimir Putin’s agenda in Bishkek, where the Russian president arrived on August 31 to attend the Shanghai Cooperation Organization (SCO) summit, began with bilateral meetings with world leaders. The summit itself is being held on September 1. Following the SCO and SCO Plus meetings, Putin will resume his bilateral meetings. The Russian leader will then fly to Vladivostok to participate in the Eastern Economic Forum.
Putin’s first meeting on the sidelines of the SCO summit was with Chinese President Xi Jinping. This is the second meeting between the leaders this year. Chinese official documents explicitly emphasize the importance of "top-level diplomacy," so the meeting between the leaders of Russia and China plays a significantly greater role in the development of bilateral relations, Alexander Lomanov, head of the Center for Asia-Pacific Studies under the Russian Academy of Sciences’ World Economy and International Relations Institute, told Vedomosti. According to Beijing, the strongest strategic relationships are built precisely through meetings between leaders, and constant contact between Putin and Xi contributes to "the development of mutual political trust." Lomanov noted that the practice of regular meetings between the leaders of Russia and China is already a "long-standing tradition," which is undoubtedly advantageous for both Moscow and Beijing.
After meeting with Xi, Putin held a bilateral meeting with Indian Prime Minister Narendra Modi. Putin held another bilateral meeting later in the day, with Kazakh President Kassym-Jomart Tokayev. Bilateral meetings between leaders are routine at any multilateral event, and it would be strange if they did not take place, Valdai Club expert Andrey Kortunov emphasized. According to him, the Russian president has many topics to discuss with Modi and Xi as it is important for Russia, India, and China to compare their positions within a broad international context and understand how the parties are responding to new crises and whether they can form a constructive stance. As for Tokayev, Putin’s meeting with him is also quite understandable: Russia and Kazakhstan cooperate closely, and Astana has emerged as a supplier of petroleum products to Russia. The expert also suggested that Putin and Tokayev discussed other issues related to Central Asia’s development, and that the Kazakh president briefed his Russian counterpart on recent constitutional changes and the country’s development in general.
Following the SCO and SCO Plus meetings, Putin will continue to hold bilateral meetings: with Iranian President Masoud Pezeshkian, Tajik leader Emomali Rahmon, Turkish head of state Recep Tayyip Erdogan, Mongolian President Ukhnaagiin Khurelsukh, Armenian Prime Minister Nikol Pashinyan, and Kyrgyz leader Sadyr Japarov.
Izvestia: Nepal risks facing economic disaster
Nepal faces economic paralysis. Experts predict that the risk of another devastating flood is high. Landslides have blocked the gorges through which two major rivers flow, and the situation is further complicated by monsoon rains and the rapid melting of Himalayan glaciers. As a result, a natural dam could burst and unleash millions of cubic meters of water onto the population. The current damage from the destruction has already reached nearly 10% of the country’s GDP. The death toll has exceeded 900, and more than 2,000 people are missing. There have also been casualties in Tibet. India also sees a threat of new devastating floods in its border regions. In Nepal, dissatisfaction with the authorities’ actions could trigger mass protests and lead to a deep political crisis.
The risk of another disaster is extremely high and is driven by a whole range of natural factors, Elsa Shirgazina, a research fellow at the Center for the Indian Ocean Region under the Russian Academy of Sciences’ World Economy and International Relations Institute, told Izvestia. The monsoon season continues in the region, and weather forecasts indicate that torrential rains will not cease in the near future. Heavy precipitation is exacerbated by the rapid melting of Himalayan glaciers, which raises the flow of water into blocked gorges.
India is also concerned about the situation's further impact on the region. "The current situation in Nepal is assessed by Indian authorities and analysts as a large-scale humanitarian and environmental disaster that directly affects Indian interests. As of late August 2026, the threat of new devastating floods in India’s border regions remains high due to the risk of newly formed landslide-dammed lakes bursting and forecasts of prolonged rainfall," a source close to official circles told Izvestia.
The natural disaster struck the heart of the local economy. The hydropower sector was critically affected. The destruction and flooding of the cascade of hydroelectric power plants have led to a significant decline in power generation. This affects not only household consumption, but also disrupts the operations of small industrial enterprises across the country, Shirgazina emphasized.
At the same time, the Nepalese government will have to shift its resources from development to rebuilding homes and infrastructure and paying compensation. Without large external loans, the country will not be able to cope, and this will inevitably add to the national debt, the expert noted.
Rossiyskaya Gazeta: Impact of Venezuela giving some of its oil to US on global market
US President Donald Trump announced the conclusion of "the biggest oil deal in world history." The Americans will gain control over 65 billion barrels of proven Venezuelan oil reserves for 25 years. On average, US companies will be able to raise their daily production by 7.12 million barrels over the next quarter-century. Given that the US currently produces just under 14 million barrels of oil per day and consumes 20.6 million barrels, the country could eliminate the need to import crude oil with these Venezuelan reserves.
According to Valery Andrianov, an associate professor at the Russian Financial University, US Secretary of State Mark Rubio estimates that Washington will need to invest $100 billion in Venezuela’s oil industry. If this investment is for developing 25 blocks (17 of which have already been approved, and eight of which are considered promising) and increasing the country's production level to 1.5 million barrels per day, then that figure is quite reasonable, he told Rossiyskaya Gazeta.
However, oil production at new fields in Venezuela will require billions of dollars in investment and will not begin to turn a profit for at least five to seven years, Maxim Malkov, a Kept partner and head of the firm’s oil and gas practice, emphasized. Fields currently under development will also require investment in enhanced oil recovery methods and equipment upgrades in the coming years. The expert noted that US companies currently take virtually all the oil produced in Venezuela and sell it at high global prices, reaping the profits. However, no investment decisions involving US companies in Venezuelan oil production projects have been made yet.
In turn, Andrianov revealed that the US is working to push Russian companies out of Venezuela. Licenses issued by the US in the first half of the year to conduct operations in Venezuela’s oil sector contain strict restrictions.
They categorically prohibit any transactions, investments, or technological cooperation involving companies from Russia, China, Iran, Cuba, and North Korea. Moreover, revenues from the sale of Venezuelan oil are now deposited in foreign escrow accounts controlled by US banks. Therefore, transactions with Russian or Chinese companies and payments for their participation in oil and gas projects in Venezuela are technically impossible.
At the same time, the economic benefits of Venezuelan projects for the US are not as clear-cut as they may appear at first glance. Andrianov stressed that the US government's strategic goals take precedence over commercial considerations for specific companies. While the commercial appeal of projects in Venezuela is relative, they allow the US to bolster its strategic position in the global market and become a regulator on the supply side.
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