President Donald Trump defended his decision to temporarily ease restrictions on Russian diesel exports for the next six months, writing in a Truth Social post, 'I made the right choice for the American People.' He accused the media of ignoring the European Union's energy payments to Russia, claiming the EU paid Russia 250 billion dollars, a figure that roughly tracks some estimates of EU fossil fuel imports from Russia since 2022. The move drew bipartisan criticism: seven senators, including four Republicans, said the U.S. should not provide Putin with a financial lifeline, and Rep. Michael McCaul, R-Texas, said it could fund the Kremlin's war machine. Ukrainian President Volodymyr Zelenskyy said the easing 'plays into Russia's hands,' while some analysts say the policy will not make much of a dent in diesel prices.
Summary written by Upside AI from the original article. Read the source for full details.
Related news
- Trump's diesel deal with Russia equals less than two weeks of U.S. demand
Trump's diesel deal with Russia is unlikely to significantly lower fuel prices for truckers and farmers, as the volumes Moscow plans to export are very small relative to U.S. and global demand. Russia is set to supply 300,000 metric tons immediately, then 500,000 tons in November and 1 million tons after that, for a total of 4.8 million metric tons (35.76 million barrels), about 10 days of U.S. domestic demand. Goldman Sachs estimated the Russian diesel would cut wholesale prices by only $1 to $2 per barrel, and analyst Andy Lipow called the deal largely a verbal intervention. U.S. diesel averaged $6.28 a gallon, up 72% from a year earlier, as Ukrainian attacks on Russian refineries and Iranian and Houthi strikes on Middle East refineries tightened supply.
- More Republicans come out against Trump's diesel deal with Putin
More Republican senators are opposing Trump's Friday deal letting Russia temporarily export diesel to global markets. In a Tuesday letter, six Republican and six Democratic senators urged Trump to rescind the arrangement allowing Russia to supply 4.8 million metric tons, or nearly 36 million barrels, of diesel through mid-April. They argue the deal will barely lower fuel prices for Americans, that Kremlin revenue could fund its war, and that it contradicts a recently signed Russia sanctions law. Trump defended the decision on Truth Social, and the White House did not immediately respond to a request for comment. Zelenskyy criticized the deal, and Trump responded that Ukraine should get a new president.
- 'China made its choice': Robert Kiyosaki says the nation is 'dumping' the US over 1 thing. Fortify your nest egg now
Robert Kiyosaki argues China is reducing its U.S. Treasury holdings while aggressively buying gold, calling it risk management and pointing to the freezing of Russia's foreign reserves after its invasion of Ukraine. According to Federal Reserve data, China fell to the third-largest holder of Treasury securities, behind Japan and the United Kingdom, in March. China now holds 2,550.15 tons of gold, up from 2,542.26 tons at the end of Q4 2025, according to Trading Economics. HSBC's Janet Henry says the 'de-dollarisation' narrative overstates what has happened so far, noting that the US dollar remains the world's most dominant currency and that there are still buyers for US Treasuries. The article also stresses diversification as a principle for investors.
- Trump's diesel dilemma — by the numbers
Diesel prices are surging ahead of the midterm elections, and the International Energy Agency's October report expects supply constraints to keep them elevated into next year, with inventories strained until the second half of 2027. Trump recently paused sanctions on Russian diesel and said a deal with Vladimir Putin would release 4.8 million metric tons (about 36 million barrels) to the global market, though the article notes this is unlikely to lower prices in the near term. Wholesale diesel has more than doubled since early 2026 through September, hit by the Iran war and Russia's war in Ukraine, after Russia banned diesel exports on July 8. In the U.S., the price of a gallon of diesel rose nearly 40% between July 6 and Sept. 22, and Goldman Sachs predicts diesel will stay high through 2027.
- Trump turns to Russian diesel ahead of midterms, but analysts see little price relief
President Trump announced a deal for Russia to release 300,000 metric tons of diesel immediately, followed by 500,000 tons in November and 1 million tons after that, with another 3 million tons to come depending on the condition of Russia's refineries. Diesel hit a record average of $6.5276 a gallon in late September according to AAA, and 84% of registered voters say the economy is very important to their vote ahead of the midterms. Jefferies said the volumes are unlikely to make a substantial difference, while Lombard Odier cautioned that announced shipments are not equivalent to delivered supply. Former IEA oil division head Neil Atkinson called the source of the volumes a mystery and said the impact would be almost nil, as the US uses 3.7 million barrels of diesel a day against 29 million for the world. Quantum Strategy expects the deal to fail economically and sees it as an invitation for Putin to escalate gray-zone warfare in Europe.
Related markets
Latest news
- CoreWeave Dropped 20% Last Week. Is It Time to Panic or Buy?
CoreWeave shares fell more than 20% as of Oct. 16, driven mainly by concerns over debt and spending. The company carries about $35 billion in total debt against $5.5 billion in cash, with net interest payments reaching $640 million in the second quarter alone, unsecured bond yields approaching 15%, and an S&P rating of B+. Capital expenditure was just over $16 billion in the first half of 2026 and could reach $39 billion for the year, roughly triple its $12.4 to $13.2 billion revenue guidance. States are also weighing restrictions on data centers. On the positive side, second-quarter revenue rose 112% year over year and the backlog exceeded $104 billion. The author has reservations and sees the drop as an opportunity only for the most risk-tolerant investors, who might build a position slowly, while the company needs to prove it can convert its backlog efficiently and manage debt.
- Apple’s iPhone Duo Sold Out In Minutes. The Last Time Apple Reinvented The Phone, One Apple Supplier’s Stock Soared About 1,200% In A Decade
Apple's first foldable iPhone, the iPhone Duo, sold out within minutes of its worldwide preorders opening on Oct. 16, but buyers who ordered more than an hour later face a delay of nearly three months, according to Korea JoongAng Daily, which puts the U.S. starting price at $1,999. One unnamed supply-chain source said Foxconn's final-assembly yield was just above 60% heading into late September, against the 90%-plus rate Apple typically expects, and the hinge, which holds more than 100 parts, is cited as a constraint. Analyst Jeff Pu cut his 2026 shipment estimate from 7 million to 6 million, while reported forecasts range from about 6 million to 10 million units. The article also recalls that Skyworks Solutions, identified as the power-amplifier supplier of the original iPhone, rose about 1,200% over a decade, though those figures cover price only.
- Why Sandisk Stock Shot Higher Today
Sandisk shares jumped as much as 8.3% and were still up 7.9% at 11:24 a.m. ET, helped by a tech rebound and positive news in high-bandwidth memory (HBM). Nvidia has developed NVHBM, a custom HBM die with 15% lower power consumption and 30% higher bandwidth that links NVLink and HBM chips. A Seoul Economic Daily report says Nvidia asked Samsung Electronics to use TSMC's 3-nanometer process to make NVHBM dies, the first such collaboration between the two. Nvidia has also approached Micron and SK Hynix to standardize the process, which could free compute-die space for up to 30% additional compute. The article argues this suggests AI adoption still has room to grow, which would also benefit memory suppliers, and notes Sandisk trades at 19 times earnings and 6 times forward earnings.
- JPMorgan Picks Ethereum for JPM Coin, Citing the Network’s Liquidity and Client Use
JPMorgan is launching JPM Coin, its dollar deposit token, on Ethereum and will offer it to institutional clients there, as announced Monday and reported by Bloomberg. Emma Landriault, global head of Kinexys Labs, said Ethereum's liquidity and the fact that the bank's clients already use it drove the choice. The token targets large crypto firms that pay onchain and financial institutions active in tokenized assets, which can use it as onchain cash to settle trades or as collateral. JPM Coin debuted last year on Base, and it lets clients move dollars in seconds at any hour, whereas a transfer can otherwise take several days. JPMorgan's private Kinexys network already handles daily volume above $7 billion, the bank's payments arm handles around $12 trillion in daily payments, and Open Standard launched its OUSD stablecoin on Ethereum, Solana, Base and Tempo last month.
- Prediction : Amazon Next Chapter Could Be Its Most Important One Yet
24/7 Wall St. sets a price target of $332.67 for Amazon (AMZN), 30.4% above the current $255.20, and rates the stock a buy with 70% confidence. The thesis rests on AWS, which grew 37% last quarter, its fastest pace in 18 quarters, while Amazon plans to spend about $200B in 2026 on AI infrastructure, chips, robotics and satellites. The article flags risks: trailing free cash flow turned negative at about -$7.6B after second-quarter capex rose 68.44%, and long-term debt climbed to $119.1B from $65.6B. It compares Amazon's valuation with Microsoft and Alphabet, and says the author would stay constructive if AWS growth stays above 30% and free cash flow turns positive in 2027.
- Explainer - What behind Egypt move towards possible military involvement in Saudi - Yemen conflict ?
Egypt's parliament is expected to vote next week on authorising its armed forces to help defend Saudi Arabia against Houthi attacks from Yemen, if Riyadh requests support. President Abdel Fattah al-Sisi made the request in a Saturday speech, a clear escalation from Cairo's measured tone since the Iran war began, though Egypt has not publicly committed to a direct combat role. Egypt relies heavily on Gulf states for remittances, aid and deposits, including a $5.3 billion Saudi deposit at Egypt's central bank due this month. Analysts say security concerns, including a July drone strike on two gas vessels at Damietta and shared interest in Red Sea shipping, are pushing Cairo toward a more active stance. Egypt receives about $1.3 billion a year in US military aid and previously sent air and naval forces to the Saudi-led coalition in Yemen in 2015.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.