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Business & MoneySeptember 3, 2026

WORLD IN BRIEF: Netherlands shifts gold to London, Zelensky warns airlines over Russian airspace, Mozambique and Zimbabwe expand fuel pipeline and other stories

WORLD IN BRIEF: Netherlands shifts gold to London, Zelensky warns airlines over Russian airspace, Mozambique and Zimbabwe expand fuel pipeline and other stories
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The United States and Iran have exchanged their heaviest attacks since July, raising fears of a wider regional conflict as Washington carried out fresh strikes along Iran’s southern coast and Tehran launched retaliatory attacks against US bases across the Middle East. The US military said it targeted Iranian air defences, radar systems, maritime assets, mine-laying capabilities and communications sites.

Iran reported strikes on several locations near the Strait of Hormuz, a key route for global oil shipments. Iran accused the United States of striking a wedding gathering, killing four people and injuring dozens. Iran’s health minister later said the latest US strikes had killed 18 people and injured 108. The escalation unsettled global markets, with Asian and European stocks falling.

Oil prices also moved higher after briefly reaching levels not seen since July, reflecting renewed concern about the effect of the conflict on energy supplies, trade and global inflation. The United States has threatened further and more damaging attacks, while Iran has vowed to respond, raising fears that the conflict could spread beyond the two countries.

The European Union and Nato have pledged to increase pressure on Russia following Germany’s accusation that Moscow was behind a failed drone attack at Leipzig/Halle Airport. Ursula von der Leyen, European Commission President described the incident as a “new escalation” on European Union soil and said the bloc must respond more quickly to what she called growing Russian recklessness. Mark Rutte, Nato Secretary General said the alliance stood in full solidarity with Germany.

Germany said investigations and intelligence assessments showed that Russia was behind the August 4 incident, in which a drone carrying explosives was found near Ukrainian cargo aircraft at the airport. A second drone was believed to have collided with a cargo plane, while a third was found at the airport 10

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