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- Weekly Sanctions Update : October 13 , 2026
On October 9, OFAC issued General License 135 authorizing transactions involving Russian diesel fuel, including imports into the US, until April 7, 2027, after President Trump said Russia agreed to supply 300,000 metric tons immediately, 500,000 tons in November and one million tons after that. The move appears at odds with US efforts to target Russia’s energy sector, and a bipartisan group of six senators argued it would violate the Ending Importation of Russian Oil Act. The same day, the State Department designated the International Criminal Court, the first measures against the court itself, which UN Secretary-General António Guterres called a serious blow to international criminal justice; OFAC also issued GLs 13 to 16 to limit disruption. On October 8, OFAC sanctioned 17 vessels and 17 companies linked to Iran’s shadow fleet, while the State Department sanctioned five vessels, ten entities and six individuals, and OFAC removed two vessels from the SDN List.
- Trump Tilt Towards Putin Over Ukraine
Professor Robert Patman of the University of Otago argues that the Trump administration is moving closer to Moscow by lifting sanctions, agreeing a diesel export deal, and sidelining Ukraine and Europe from peace talks. He says this reflects a long-standing pro-Putin stance, citing Trump's refusal to criticise the Russian leader and a “land for peace” proposal that would reward an aggressor. Patman contends the US has effectively stopped directly funding Ukraine's defence while Europe pays, and warns that rewarding the invasion sets a dangerous precedent for China and Taiwan. He also links the shift to domestic politics, suggesting Trump is using Ukraine as a scapegoat for rising petrol prices linked to the Iran conflict and Strait of Hormuz tensions ahead of midterm elections.
- Russia and the US announce good news for the whole world
The Kremlin said Russia's diesel supply deal for international markets serves the interests of both Moscow and Washington and helps stabilize global fuel supply and demand. According to Presidential aide Yuri Ushakov, Vladimir Putin and US special envoy Steve Witkoff discussed implementing the deal on October 21 during a meeting in St. Petersburg. Implementation began after the US lifted some sanctions on Russian diesel, and the talks followed terms agreed by Putin and Donald Trump in an October 9 phone call. The White House has exempted Russian diesel supply to international markets from sanctions until April 7, 2027.
- Germany - Russia trade plummets in nearly 5 years of Ukraine war
Economic ties between Germany and Russia have weakened sharply since the war in Ukraine began, according to new German government data. German imports from Russia fell 96.4% in the first half of 2026 compared with the same period in 2021, to 500 million euros from 15 billion euros, largely due to lost oil and gas supplies. German exports to Russia dropped to 3.4 billion euros in the first six months of 2026, around a quarter of the 2021 level. Russian-controlled companies in Germany fell from 229 in 2021 to 76 in 2024, while German firms active in Russia dropped from 481 to 290 by 2024. Direct flights were suspended under EU sanctions, leaving about 39,900 passengers travelling to Russia in the first half of 2026, versus about 1 million in the first half of 2019.
- EU Seeks to Curb Russian Oil Supply in 22nd Sanctions Package
On Oct. 20, TASS reported that the European Commission wants to add new restrictions on Russian oil to its 22nd sanctions package. EU High Representative Kaja Kallas said the package would target Russia's shadow fleet, its energy and banking sectors, and entities in third countries. She gave no timeline, and the package requires unanimous approval from member states. The move comes amid Europe's energy crisis, with EU countries spending 100 billion euros more on energy imports since the start of the year than in the same period last year, gas prices up 140% and diesel up 100%. The 22nd package was originally planned for September, and on Oct. 12 the EU expanded its sanctions list by nearly 1,600 individuals and entities, though the Commission clarified that this was not the 22nd package.
- Will the Dollar Lose its Position in the Global Economy ?
The article asks whether the US dollar will lose its position in the global economy as the Russia-Ukraine conflict and sanctions reshape international payments. The US has used the dollar as a tool to pressure Russia, while Russia has demanded payment for its gas in rubles, a measure the US government has described as terrorism. China, India and Russia are all trying to reduce their dependence on the dollar, although China's reserves have remained stable at an average of 3.2 trillion dollars since 2020, according to the World Bank. About 650 billion dollars of Russian assets are frozen in the US and UK, and researcher Miguel Otero Iglesias warns the sanctions war could become a race of endurance between Europe and Russia. The article concludes that the dollar is in a long process of devaluation, but alternative mechanisms remain far from displacing it.
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The 9-month 2026 results show many banks continued to grow profits, with some posting record quarterly earnings. VPBank's pre-tax profit reached nearly VND 30,000 billion, up nearly 47%, equal to its full-year 2025 result and about 72.4% of its 2026 plan; Q3 pre-tax profit topped VND 11,000 billion. Techcombank posted VND 28,900 billion (up 23.7%), while LPBank reported VND 10,421 billion (up nearly 9%). SSI forecasts pre-tax profit of its monitored banks to rise 19.5% in 2026 before slowing to 15.4% in 2027, pressured by narrowing net interest margins and rising credit risk provisions. It also expects system-wide credit growth of 16-17% in 2027 and 17.9% for the monitored banks.
- World's Largest Gold Fund Dumps Over 10 Tonnes of Gold as Prices Slide
SPDR Gold Trust, the world's largest gold fund, continued net selling of nearly 12 tonnes of gold in the 22/10 session, bringing total sales over 2 sessions to nearly 15 tonnes and cutting its holdings to about 1,046 tonnes. Spot gold fell more than 2.8% to around USD 4,025 per ounce at the close of 22/10, and briefly dipped below USD 4,000 per ounce in the morning session of 23/10. Tensions in the Middle East pushed crude oil prices higher, raising concerns about inflation and further Fed tightening, and gold has still not attracted sustained safe-haven demand even as US Treasury yields fell. US September CPI rose 0.6% month on month and 3.7% year on year, while PPI rose 1.3% and 6.3%. Markets price about an 84% chance the Fed holds rates steady at its 27-28/10 meeting and a 16% chance of a 25 basis-point increase; September PCE data due on 29/10 is the next key factor to watch.
- Gold Prices Continue to Fall
On the morning of 23/10, domestic gold prices kept falling, with SJC bar prices varying by seller and the premium over world gold widening. Công ty TNHH Vàng bạc đá quý Sài Gòn listed SJC bars at VND 139-142 million per tael (buy-sell), down VND 300,000; Phú Quý was at VND 138-141.8 million, down VND 500,000; and Mi Hồng at VND 140-141.5 million, down VND 800,000. Gold rings also fell by varying amounts, with DOJI at VND 138-142 million and Phú Quý at VND 138-141 million per tael. World gold dropped USD 129 to around USD 3,992 per ounce, equal to about VND 125.3 million per tael, leaving SJC bars about VND 16.7 million per tael above the world price. The State Bank's central rate was set at 25,627 VND/USD, down 5 dong, while Vietcombank quoted 25,660-26,040 VND/USD (buy-sell).
- Company Linked to Billionaire Pham Nhat Vuong Announces Major Good News
VEFAC (ticker VEF), a Vingroup subsidiary, posted Q3 net revenue of nearly VND 77 billion, up 67% year on year, but a gross loss of about VND 27 billion as cost of sales from its exhibition business exceeded revenue. Q3 profit rose mainly thanks to a gross gain of about VND 65 billion from transferring some schools in a project to a partner, while financial income reached over VND 388 billion, mostly from loan and investment income. For the first nine months of 2026, after-tax profit was nearly VND 865 billion, down about 94% from VND 15,418 billion in the same period of 2025, as the prior year included large gains from transferring part of the Vinhomes Global Gate project. As of 30/9/2026, total assets stood at over VND 31,905 billion, up 36% from the start of the year, while total liabilities exceeded VND 24,364 billion, with short-term customer advances rising from VND 411 billion to over VND 8,373 billion.
- Lotte and Phat Dat Officially Break Ground on VND 60,000 Billion Mega Project in Thu Thiem 'Golden Land'
A joint venture between Lotte Group (South Korea) and Phát Đạt (HoSE: PDR) officially broke ground on 23/10 on Lotte Eco Smart City Thu Thiem in the Thu Thiem New Urban Area, HCMC, with total investment of about VND 60,000 billion. The project covers nearly 7.5 ha and will combine Grade A offices, retail, services, accommodation and housing, adjoining the central plaza and central lake of Thu Thiem. Phát Đạt holds 35% of Lotte Properties HCMC, the project developer, and will develop the housing blocks along with two towers (2-1 and 2-3) with about 219,722 m2 of floor area, while Lotte handles block 2-5. Lotte Properties HCMC paid VND 17,569 billion in land-use fees on 31/7/2026, and Phát Đạt completed its VND 7,666 billion payment to take its 35% stake. MB is funding all of Phát Đạt's capital contribution, while VietinBank and BIDV also support the project.
- International Business : Global stocks nosedive as Meta dents AI optimism
Global stocks retreated as tech earnings failed to ease concerns about the AI outlook, with MSCI's All-World index set for its largest daily fall in two weeks, down 0.4 per cent. Meta beat third-quarter revenue expectations, but its plan to issue non-voting stock revived worries about its mounting capital commitments, and a New Mexico judge ordered it to pay a $25 billion penalty in a data privacy case. Brent crude rose nearly 3% to $112 a barrel, near a five-month high, after more Houthi attacks in Saudi Arabia raised supply risks. Investors moved into government bonds, pushing the US 10-year yield down to 5.05%, below France's for the first time in 13 years, while French yields have climbed above 5% amid concerns over social unrest and debt. The France-Germany 10-year spread reached 177.7 basis points, its widest since 2011, while gold fell 1.8% to $4,070 an ounce.
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