Russian President Vladimir Putin warned on Thursday that new US sanctions targeting Rosneft, Lukoil, and their subsidiaries could drive up global fuel prices, including in the United States. He questioned the motives of advisers within the Trump administration who, he suggested, are influencing President Donald Trump’s decisions on restricting Russian oil exports. Putin added that such measures could have “sensitive” consequences given the US political calendar. At the same time, the Russian leader expressed hope that the sanctions will not significantly affect the global energy market. The Russian leader also said that time is needed to arrange a meeting with Trump, stressing that it would be a “mistake” for both sides to hold talks without proper preparation and concrete results.
EU passes 19th package of sanctions against Russia
The EU member nations approved the 19th sanctions package against Russia, announced by the Danish rotating presidency. The agreement followed Slovakia’s decision to lift its reservation after securing energy and industry-related assurances from the European Commission.
“We are very pleased to announce that we have just been notified by the remaining member state that it’s now able to lift its reservation on the 19th sanctions package,” the presidency confirmed. “If no objections are received, the package will be adopted tomorrow by 8 am.”
In addition to energy sanctions, the EU will impose further travel restrictions on Russian diplomats and blacklist another 117 vessels from Moscow’s so-called shadow fleet. The total number of targeted ships now stands at 558.
US to announce Russia sanctions today or tomorrow
United States Treasury Secretary Scott Bessent spoke to reporters on Wednesday, revealing that there will be a “substantial pick-up” in sanctions against Russia. “We are going to announce [them] either after the close this afternoon or first thing tomorrow morning,” he detailed. Bessent’s comments come on the heels of a Wall Street Journal report, which claimed that Washington gave Ukraine a green light to use Western-made long-range missiles and strike Russian territory. While US President Donald Trump and Russian President Vladimir Putin were supposedly looking to meet in person in Budapest in the near future, it remains unclear if the summit will take place any time soon.
US said to allow Ukraine to use long-range missiles
The Trump administration has removed a “key restriction” on Ukraine’s use of Western-made long-range missiles in its attacks against Russia, the Wall Street Journal reported on Wednesday, citing United States officials. According to the report, Washington’s decision to lift the restriction on Kiev’s use of British-supplied Storm Shadow cruise missiles came before Ukrainian President Volodomyr Zelensky visited the White House last week, reportedly aiming to convince US President Donald Trump to provide him with Tomahawks. The lifting of restrictions allowed Ukraine to attack a chemical plant in southern Russia’s Bryansk region using Storm Shadow missiles. Although the missiles are Franco-British, the United States has the power to restrict Kiev’s use of Storm Shadow due to its use of American targeting information. The report noted that the US officials expect Ukraine to carry out more cross-border attacks using these missiles, which have a range of over 180 miles.
NN: game on…. oil is soaring
Gold continues to decline, slides by another 2.5%
The price of gold continued to decrease on Wednesday as investors maintained hope that the United States Federal Reserve might reduce its key interest rate at its meeting next week. Meanwhile, US President Donald Trump voiced his expectations that the scheduled talks with his Chinese counterpart Xi Jinping will go “well” and that Washington will “do well in that negotiation.” Gold slumped by 2.45% at 7:13 am ET to $4,024.18 per ounce. At the same time, silver dropped by 1.94% to $47.76 per ounce. On the other hand, platinum rose by 1.05% at 7:14 am ET to $1,561.09. Palladium increased by 1.49% to $1,413.52 per ounce.
NN: You will see $500 gold before you see $5,000
Trump-Putin meeting postponed
There are currently “no plans” for a meeting between United States President Donald Trump and Russian President Vladimir Putin in the “immediate future,” a White House official told CBS News on Tuesday.The same source also reported that Secretary of State Marco Rubio and Russian Foreign Minister Sergey Lavrov held a “productive” phone conversation yesterday, but that an in-person meeting between them was “not necessary.” Still, Lavrov already voiced surprise about the alleged postponement of the US-Russia summit, underscoring Moscow’s commitment towards “lasting peace.” Trump spoke with Putin last week and later indicated he could meet him in Hungary to discuss prospects for ending the war in Ukraine.
NN: This is typical russian delay tactics to stop Ukraine from getting Patriot missal systems
Gold and Silver Post Steepest Drops in Years as Rally Cools…….Listen to Warren Buffet
Gold plunged the most in a dozen years while silver had its biggest drop since February 2021 on Tuesday amid a broad market selloff following a weeks-long rally that sent precious metals to successive record highs. Spot gold fell as much as 6.3% to $4,082.03 an ounce, while spot silver fell as much as 8.7% to $47.89 an ounce. A confluence of factors dragged down the precious metal including positive trade talks between China and the US, a stronger dollar, overstretched technicals, and uncertainty on investor positioning due to the government shutdown and the end of a seasonal buying spree in India. Haven demand for precious metals has cooled somewhat as US President Donald Trump and China’s Xi Jinping are set to meet next week to iron out their differences on trade. Gold’s relative strength index indicates that prices have passed well into overbought territory. A strengthening US dollar has also made precious metals more expensive for most buyers. “In the last couple of trading sessions traders have increasingly been looking over their shoulders, as concerns about a correction and consolidation have arisen,” said Ole Hansen, commodities strategist at Saxo Bank AS. “It’s during corrections that a market’s true strength is revealed, and this time should be no different, with an underlying bid likely keeping any pullback limited.” With the ongoing US government shutdown, commodity traders have also been left without one of their most valuable tools — a weekly report from the Commodity Futures Trading Commission that indicates how hedge funds and other money managers are positioned in US gold and silver futures. Without the data, speculators may be more likely to build abnormally large positions one way or another.
Option Volume on Largest Gold ETF Hits Record
Volatility and trading volumes have also surged
Note: Total options volume on SPDR Gold Shares, which reflects the performance of the price of gold bullion
“The absence of positioning data comes at a delicate time, with a potential build-up in speculative long exposure in both metals making both more vulnerable to correction,” Hansen said. Volatility in precious metals has surged in recent days, with traders seeking to hedge against potential price drops in other parts of their portfolios, or profit from the fall. More than 2 million options contracts linked to the world’s largest gold-backed exchange traded fund were traded on both Thursday and Friday of last week, surpassing a previous record. Silver also slumped after surging almost 80% this year — with gains driven by some of the same macro factors supporting gold, as well as a historic squeeze in the London market. Benchmark prices are trading above New York futures, which has prompted traders to ship metal to the UK capital to ease tightness. On Tuesday, silver in vaults linked to the Shanghai Futures Exchange saw the biggest one-day outflow of silver since February, while New York stockpiles have also fallen.
NN: Precious metals are doomed
Gold sinks 4% as Fed bets rise, US-China tensions ease
Gold continued its downward spiral on Tuesday, plunging more than 5.5% as investors kept their focus on possible interest rate cuts by the United States Federal Reserve and cooling geopolitical tensions between Washington and Beijing. Gold dropped by 5.52% at 12:41 pm ET to go for $4,116.08 per ounce. Meanwhile, silver went down 8.43% to sell for $47.90 per ounce a minute later and platinum slid by 6.29% to go for $1,536.93 per ounce. Palladium declined by 6.75%, going for $1,385.24 per ounce at 12:44 pm ET.
NN: As we warned the bubble markets in precious metals are starting to crack. This will soon be a major money maker.
Trump: Hamas will be eradicated if they have to be
United States President Donald Trump declared on Monday that there was a “little situation” with Hamas, adding that the militant group was in “violation” of the ceasefire agreement, warning it “will be eradicated if they have to be.” “That will be taken care of very quickly if they don’t straighten it out themselves,” he said. “We had a deal with Hamas, they’re gonna be very good … and if they’re not, we’re gonna go in and eradicate them if we have to. They’ll be eradicated, and they know that,” he warned. Furthermore, Trump said that Hamas would be “straightened out very quickly and very violently,” if the group doesn’t honor the deal. On the other hand, he said the US would not fight Hamas directly should that happen, suggesting Israel and other Middle Eastern countries would engage the militant group.
Trump said to have told Zelensky to accept Putin’s terms……Trump says Ukraine ‘could still win’
United States President Donald Trump told his Ukrainian counterpart Volodymyr Zelensky during their meeting in Washington on Friday to accept Moscow’s terms for ending the war or be “destroyed” by Russia, Financial Times reported on Sunday, citing sources. The meeting between the two leaders was described as stormy, with Trump “cursing all the time.” Trump “tossed aside” maps of frontlines in Ukraine, asking Zelensky to surrender the Donbas region in eastern Ukraine, but subsequently supported the idea of ending the conflict along the current lines of control. Trump’s position was said to have been affected by his phone call with Putin the day before he met with Zelensky. “If [Putin] wants it, he will destroy you,” Trump reportedly warned Ukraine’s leader. There was no comment from the White House or the Ukrainian presidency. Trump previously said the US can’t jeopardize national security by sending all its weapons to Ukraine, and suggested Moscow and Kiev “should stop where they are.”
NN: this war is far from over. Soon the oil embargo will come
Trump says Ukraine ‘could still win’
United States President Donald Trump said on Monday that Ukraine could still potentially win the war between Kiev and Moscow.
“Ukraine could still win it [the war]. But I don’t think they will. Anything can happen. War is a very strange thing,” Trump told reporters amid a bilateral meeting with Australian Prime Minister Albert Albanese Australian Prime Minister Anthony Albanese at the White House.
Furthermore, the US president expressed optimism regarding a peace deal between Ukraine and Russia. “I’ve settled eight wars in eight months. Not bad. I have one more to go and I think we’ll get there,” Trump stated and added that the situation is “a little bit dificult” because “two leaders truly hate each other.”