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Hi everyone, this is Elliot Waldman, WPR’s editor-in-chief. Welcome back to our Weekly Review, where we recap the highlights from our coverage over the last week and preview what’s on deck. (This is the limited edition of the Weekly Review, upgrade now to get the premium version each Sunday.) |
One note: Our team will be off tomorrow for the Labor Day holiday in the United States. We will return to our normal publishing schedule Tuesday. |
If you have any comments or feedback, just hit reply to send them along. |
Top Stories |
Here are some of the week’s major developments that we covered in our Daily Review newsletter. (If you don’t already receive the Daily Review, you can adjust your settings here.): |
| | | | | | Hegseth Is Hollowing Out the U.S. Military: U.S. Army Secretary Daniel Driscoll resigned earlier this week after months of tensions with his boss, Defense Secretary Pete Hegseth. Driscoll’s departure leaves the military’s largest service branch with no top civilian official and no Senate-confirmed generals serving as its chief of staff (the top-ranking officer), its officer in charge of operations and its commander of Army troops stationed in Europe and Africa. | The vacancies come at a time when … Read more here or upgrade now to get the premium version of the Weekly Review each Sunday. |
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| | | | | | Global Bond Markets Are Flashing Red: Global bond markets continued to send worrying signals this week, with a sustained sell-off pushing prices of sovereign debt lower and yields accordingly higher. Returns on 10-year U.S. Treasuries are approaching 5 percent, historically considered a symbolic alarm signal, while interest on Japan’s 10-year bonds surpassed the 3 percent mark for the first time since 1996. | The story was similar in Europe, with rates on … Read more here or upgrade now to get the premium version of the Weekly Review each Sunday. |
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| | | | | | Ortega Takes the Mask Off of Nicaragua’s Dictatorship: On Tuesday, Nicaragua’s Congress voted to approve a constitutional reform that would ban the country’s opposition parties from participating in elections, while also adding a year to the current six-year presidential term. In order for the amendment to take effect, it must be approved in a second separate legislative session, which Co-President Daniel Ortega said would take place next January. | The vote follows … Read more here or upgrade now to get the premium version of the Weekly Review each Sunday. |
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The Week’s Highlights |
 | Farmers walk through a farm in Rufisque, Senegal, May 12, 2026. (AP Photo by Caitlin Kelly) |
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The Iran War’s Hidden Development Crisis in the Global South. On Wednesday, Jared O. Bell explained how the U.S.-Iran war is perpetuating a crisis across the Global South. |
Governments, firms and households around the world are exposed to the accumulating effects of the U.S.-Iran war, and many of the people most exposed do not live in either country. Instead they are farmers unable to afford fertilizer in East Africa, families confronting higher food costs, and workers whose jobs depend on tourism, trade or investment. As the conflict disrupts shipping through the Strait of Hormuz, its consequences are becoming a development crisis across the Global South. Before the war, roughly 18 million barrels per day of crude oil and refined products moved through the strait; that figure has averaged about 2 million barrels per day so far in August, an almost 89 percent decline from prewar levels. The most direct link between the closure of Hormuz and household hardship runs through … Upgrade now to get the premium version of the Weekly Review each Sunday.
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Lithuania Fears It Could Be Russia’s Next Target. And on Thursday, Frida Ghitis reported from Lithuania on its citizens’ fears that their country may be the next object of Russia’s aggression. |
Standing on the narrow panhandle of Dieveniskes in southeastern Lithuania, almost completely surrounded by Belarus, it is impossible to avoid the sense that this corner of Europe could become a target for Russia. The quickening drumbeat of warnings about impending Russian action against NATO is a fact of life here, yet people take the alerts with remarkable equanimity even as authorities take steps to protect the country. In Vilnius, unlike most European capitals, Ukrainian flags still fly everywhere. “Ukraine is fighting for us,” Lithuanians say, holding back an aggressive Russia that could come after the Baltic states next. Western experts once believed Putin would not tangle with NATO; that belief has changed. Lithuania's intelligence agencies reportedly believe … Upgrade now to get the premium version of the Weekly Review each Sunday.
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The Week’s Most-Read Story |
 | A pedestrian walks past a mural featuring oil wells in Caracas, Venezuela, Aug 29, 2026. (AP Photo by Pedro Mattey) |
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Trump’s Oil Deal With Venezuela Doesn’t Pass the Sniff Test. And in this week’s top story by views, James Bosworth looked at why Trump’s announcement that the U.S. now controls billions of barrels of Venezuela’s oil feels more like a 100-day gambit than a 100-year lease. |
For the largest U.S. oil companies, Venezuela remains “uninvestable,” as the CEO of ExxonMobil told Trump at a White House meeting earlier this year. The country’s electrical utility can’t keep the lights on, and the lack of rain caused by this year’s El Niño will further dry up the hydroelectric reservoirs. Much of rural Venezuela, including parts of oil-producing Zulia state, remains controlled by armed groups, while the security forces remain underpaid and understaffed. Caracas owes an estimated $240 billion—more than twice the country’s GDP—which is about to become the largest debt restructuring in history. That means any oil profits will be disputed in some way. Even if all those challenges are overcome … Upgrade now to get the premium version of the Weekly Review each Sunday. |
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What’s On Tap |
And coming up this week, we’ve got: |
Gabriela Bernal on the promises—and peril—of South Korea’s push for greater military independence. Jovo Rabrenović on Montenegro’s tourism boom and the threat it poses to economic security. Michael Hart on Laos’ efforts to forge a new, more sustainable economic policy.
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Upgrade now to make sure you don’t miss these stories and all of our upcoming coverage. |
That’s it for now. Until next Monday, |
—Elliot Waldman |
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The Week On WPR |
Americas |
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Asia-Pacific |
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Europe |
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 | | Putin’s Greatest Fear Is Hope | Russia’s only anti-war party posed little electoral threat. But a sudden burst of popularity got it barred from upcoming elections. |
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Middle East & North Africa |
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United States |
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Global |
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Welcome to my geopolitics blog site. This is a Hawaii Island news site focusing on geopolitical news, analysis, information, and commentary. I will cite a variety of sources, ranging from all sides of the political spectrum.