Morning Briefing: Aug. 29, 2026

Here is a rundown of all the news that you need to start your Saturday, including a US-Venezuela oil deal; the climbing death toll from floods in Nepal; and Russia launching a nuclear-capable intercontinental ballistic missile.

TOP STORIES

US secures majority control of 65B barrels of Venezuelan oil

US President Donald Trump said Washington finalized an agreement with Venezuela to secure majority control of more than 65 billion barrels of proven oil reserves.

Venezuelan Acting President Delcy Rodriguez characterized the agreement as a “historic milestone” that will catalyze the “nation's revival.”

She projected that the deal would secure an investment of more than $100 billion and generate more than $209 billion in taxes for the country.

Nepal flash floods death toll climbs to 623, over 1,100 missing

The number of fatalities from devastating floods and landslides in Nepal reached 623 on Saturday, as search teams continue to recover bodies carried downstream by surging rivers.

Police confirmed they have recovered 616 bodies, with at least 638 people missing.

Meanwhile, seven people have been killed, and 554 are missing in China.

Russia says it launched mobile ICBM from Plesetsk Cosmodrome

Russia launched a mobile solid-fuel intercontinental ballistic missile (ICBM) from the Plesetsk Cosmodrome in the northwestern Arkhangelsk region.

The Defense Ministry said it conducted the combat training launch of the “nuclear-capable” ICBM, which reached a designated area at the Kura training ground in the Kamchatka region of Russia’s Far East.

“The Strategic Missile Forces practiced the procedure for redeploying a mobile intercontinental ballistic missile launch battery to a remote area, preparing for and conducting the launch,” it said.

NEWS IN BRIEF

· President Masoud Pezeshkian said Iran reached an agreement with Oman on Strait of Hormuz passage route.

· Iran characterized US "Operation Economic Outcast" as "economic terrorism" and violation of international law.

· The International Maritime Organization reported 400 vessels and 6,000 seafarers remained stranded in the Gulf six months after the Middle East war began.

· Israeli attacks killed five Palestinians in the Gaza Strip, including three family members, despite a truce.

· South Africa accused Israel of defying three legally binding International Court of Justice orders in a detailed evidence dossier.

· Greenlandic opposition parties demanded Denmark face international court for a forced contraception campaign in Greenland.

· Norway’s King Harald V has died at the age of 89.

· China’s top legislature removed two senior generals from military leadership following disciplinary and legal investigations.

· An Ecuadorian court convicted former President Lenin Moreno in a corruption case involving the nation’s largest hydroelectric facility.

· US Defense Secretary Pete Hegseth rejected reports of a potential 2028 presidential run as "100% false."

BUSINNESS & ECONOMY

· US Treasury Department adds Iran-linked individual, Hong Kong-based company to sanctions list

The US Treasury Department announced it added an Iran-linked individual and a Hong Kong-based company to its sanctions list, as Washington steps up pressure on Tehran and entities accused of helping it evade sanctions.

Reza Mohammad Taeedi, a Dubai-based Iranian national and the general manager of the Dubai branch of Iran’s Bank Melli, was added to the Office of Foreign Assets Control’s (OFAC) Specially Designated Nationals (SDN) List.

SPORTS

· Besiktas draws Marseille, Leverkusen in Europa League league phase

Besiktas, the Europa League tournament’s only Turkish representative, will host France’s Marseille, Belgium’s Union Saint-Gilloise, Conference League holders Crystal Palace and Israel’s Hapoel Beer-Sheva in Istanbul.

The Black Eagles will travel to Germany to face Leverkusen and Hoffenheim, while their other away matches will be against Scottish champions Celtic and Greek Cypriot club Omonia.

· Trabzonspor draw Freiburg, Red Star Belgrade in Conference League

Trabzonspor, Türkiye’s only representative in the competition, will host German side Freiburg, Scotland’s Hearts and Czech club Jablonec.

The Black Sea club will travel to face Serbia’s Red Star Belgrade, Finnish champions KuPS Kuopio and Bulgaria’s CSKA Sofia.