Regulation & Government

Russia will keep its diesel export ban in place until year-end while issuing quotas to some refiners to fulfill commitments under the Trump-Putin diesel supply agreement. Quotas will rise to 2 million metric tons in November, or roughly 0.5 million barrels per day. The policy maintains domestic supply controls amid earlier shortages while enabling exports. Read →

The tanker Leruo, carrying Russian diesel, altered its destination from Brazil to the US Atlantic coast per LSEG shipping data. This follows the partial lifting of Russia's export ban under the US-Russia diesel deal. The move signals increasing shipments toward American markets despite lingering EU and UK embargoes. Read →

The Trump administration issued a 60-day Jones Act waiver to allow foreign-flagged vessels to deliver oil, natural gas, fertilizer, and coal amid supply disruptions from the Iran conflict. The waiver aims to ease domestic fuel and agricultural input shortages. It covers vital resources moving to US ports through mid-November. Read →

President Trump issued an executive order waiving new tariffs of up to 100% on top buyers of Russian oil and gas and 500% on Russian goods under the Lindsey O. Graham Sanctioning Russia and Iran Act. The waiver cites US national interests and remains in effect until further determination. It spares major importers like India from immediate duties while monitoring continues. Read →

China's commerce ministry suspended its outright ban on gallium, germanium, and antimony exports to the United States, effective through November 27, 2026. The suspension follows prior licensing controls on these dual-use minerals used in semiconductors and defense applications. Trade volumes had already been minimal due to earlier restrictions. Read →

President Trump announced a proposal at a Lubbock, Texas rally to scale back Biden-era methane emission standards for oil and gas wells, pipelines and facilities, including repealing the Super Emitter Program. The EPA proposal aims to save $45 billion in costs and enable 210 million additional barrels of oil production. It targets rules on flaring, monitoring and leaks that the administration calls expensive and unnecessary ahead of midterms. Read →

US and Canadian officials are negotiating relief from Section 232 tariffs on Canadian steel (up to 50%) and autos (25%), with sources indicating a possible deal before the November 3 midterms. Talks address the broader trade rift after stalled negotiations in August, though Canada reports limited progress and seeks concessions that work for both sides. Trump has signaled tariffs could rise further in 2027 absent agreement. Read →

President Trump signed a proclamation modifying the scope of 50% Section 338 tariffs on Canadian goods, removing items like plywood, paper products and machinery while adding valves, carpets and waste products. Changes take effect October 30, 2026, apply regardless of USMCA status and supplement existing Section 232 duties. The action responds to Canada’s retaliatory tariffs on US exports and aims to protect American workers and commerce. Read →

The Office of the US Trade Representative proposed extending the suspension of Section 301 port fees and related duties on Chinese-linked ships calling at US ports by two months, from early November until January 9, 2027. The move follows a broader US-China trade truce and aims to allow more time for negotiations over China's maritime, logistics, and shipbuilding practices. Lower shipping costs support commodity exports including US metals and coal by avoiding the tit-for-tat fees imposed in 2025. Read →

CFTC Chairman Michael Selig stated that the agency's enforcement division has been examining oil futures trading activity since March 23, including a sharp spike equivalent to at least 6 million barrels sold in two minutes just before President Trump reversed threats against Iranian power plants. Selig emphasized that oversight remains a priority. The review targets potential manipulation or improper timing in energy derivatives markets. Read →

Three tankers carrying about 140,000 tonnes of Russian diesel, including one blacklisted by the EU/UK/Canada, are scheduled to arrive at US ports next week under the Trump-Putin deal exempting the fuel from sanctions. The shipments are the first licensed imports since the 2022 ban and arrive days after the US midterms. The move aims to ease US diesel prices but raises legal risks for buyers and drew congressional backlash. Read →

Russian refiners are increasing diesel production in October after receiving export quotas tied to the Kremlin’s supply agreement with the United States. Output had fallen to about 160,000 tons per day in early October but is rising toward 180,000 tons per day following the mid-month quotas. The deal, announced by Trump on Oct. 9, includes an initial 300,000 tons for the US and global markets plus further volumes. Read →

President Trump issued an executive order on Oct. 16 waiving new tariffs of up to 500% on Russian goods and up to 100% on goods from the top five buyers of Russian oil and gas under the Lindsey O. Graham Sanctioning Russia and Iran Act. The waiver, justified on national interest grounds, took effect before the Oct. 18 deadline and can be revoked later. Other existing sanctions on Russia remain unchanged. Read →

President Trump signed an executive order waiving sanctions and tariffs under the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, including up to 500% duties on Russian goods and 100% on top buyers of Russian oil and gas. The waiver, issued two days before the Oct. 18 deadline and citing national interests, follows a US-Russia diesel export deal and aims to ease elevated fuel prices ahead of midterms. It suspends the measures until further action while monitoring continues. Read →

Brent crude futures fell 49 cents to $109.06 a barrel as markets weighed Trump's executive order waiving Russia-related sanctions and tariffs on energy exports. The move follows a US-Russia diesel deal and comes amid Middle East shipping attacks that cut Gulf crude flows. Russia's September crude output rose 65,000 bpd to 8.43 million bpd but remained below year-ago levels. Read →

China agreed to relax export controls on gallium, germanium, graphite and antimony, lift retaliatory tariffs on US agricultural products, and allow Nexperia semiconductor products to leave China, per a White House fact sheet. The steps detail a deal from the recent Trump-Xi summit and follow earlier suspensions of US-specific bans on the metals until Nov. 27, 2026. These critical minerals are key inputs for semiconductors, EVs and defense supply chains. Read →

Trump issued an executive order waiving 500% tariffs on Russian goods and 100% tariffs on the five largest importers of Russian crude oil and natural gas under the Graham Act, which he signed in September. The waivers, effective until further action and justified as in the national interest, also halt related sanctions on banks and investments. They coincide with a US-Russia diesel supply agreement to address high fuel prices. Read →

UK Prime Minister Andy Burnham's government signaled disagreement with Trump's approach to Russia sanctions, including the diesel export deal and Graham Act waiver. A key UK minister highlighted a growing divergence between allies on Ukraine policy. The UK stance contrasts with US moves to ease some energy-related measures amid high diesel prices. Read →

President Trump signed an executive order Thursday declaring wind turbine imports a national security threat under Section 232 but directed the USTR and Commerce Secretary to negotiate with partners instead of imposing tariffs immediately. Existing aluminum, copper and steel tariffs on components remain. The 180-day review period allows time for talks before any further remedies. Read →

Trump issued a presidential determination Thursday classifying domestic petroleum production, refining and logistics as essential to national defense under the Defense Production Act. The move waives certain statutory requirements to enable purchases, commitments and funding for projects aimed at expanding capacity amid high fuel prices. It follows earlier announcements of up to $150 million in DPA Title III funding for refineries. Read →

US and Mexican negotiators reached an impasse over tariffs on steel and aluminum, with Commerce Secretary Howard Lutnick objecting to Mexican demands for reduced metals duties. Progress on any deal is now likely delayed past the November 3 midterms. The Section 232 tariffs include 50% on steel and aluminum imports from Mexico. Read →

Chinese Vice Minister Li Gao said COP31 in Turkey should address tariffs on clean technology as a new problem for global climate action alongside climate finance gaps. The US and EU have imposed steep tariffs on Chinese solar, EVs and autos while investigating wind firms. China, the world's top producer of solar panels, wind turbines, batteries and EVs, will give a firm response to protectionism. Read →

The Trump administration is considering case-by-case removal of sanctions on some shadow fleet vessels linked to Russia, Iran and Venezuela to increase tanker capacity and reduce record freight rates. Buyers would apply to Treasury for approval to purchase and restore vessels for legal non-sanctioned oil trade. Energy Secretary Chris Wright highlighted the tanker shortage as a key choke point inflating fuel costs. Read →

President Trump and Agriculture Secretary Brooke L. Rollins announced the Harvest Fuel Relief program providing $8 billion in one-time payments to US farmers to offset diesel and other input costs during the 2026 harvest. Payments use a uniform formula based on planted acres, production costs, yields and prices via the Farm Service Agency. The aid targets temporary market disruptions amid record diesel prices above $6 per gallon. Read →

Trump issued an executive order waiving tariffs of up to 100% on goods from the five largest purchasers of Russian oil or gas under the Graham Act, citing national interest. The waiver offers temporary relief to India and other buyers while a US-Russia diesel supply deal advances. It follows the law's 30-day window and aims to support lower diesel prices ahead of US midterms. Read →

Trump said the USDA will launch the Harvest Fuel Relief program delivering $8 billion to farmers to offset high diesel costs during harvest. The one-time payments cover a portion of modeled losses for the 2026 crop year based on FSA data and USDA estimates. It follows earlier steps including expanded tax-exempt diesel access amid prices averaging over $6 per gallon. Read →

US President Donald Trump signed an executive order Friday waiving key sanctions and tariffs under the Lindsey O. Graham Act targeting Russian energy exports and buyers. The waiver follows a deal with Russia to supply over 300,000 metric tons of diesel initially to the US and global markets. Oil prices slipped Monday as markets assessed potential added Russian fuel supply against ongoing Middle East disruptions. Read →

Secretary of State Marco Rubio said the administration will use up to 60 days to assess the economic impact of the waived sanctions and tariffs under the Graham Act. Trump cited national interest in the waiver, which suspends tariffs up to 100% on top buyers of Russian oil and gas including India and China. The move comes weeks before US midterms amid high energy prices from the Iran conflict. Read →

Brent crude fell 49 cents to $109.06 a barrel Tuesday as markets weighed Trump's Friday executive order waiving Russia-related sanctions and tariffs. Attacks on Saudi Arabia and Yemen targets sustained supply disruption fears in the Gulf. Russia's September crude output rose 65,000 bpd to 8.43 million bpd per IEA data. Read →

The EU will abandon efforts to secure a global ban on new oil and gas drilling in the Arctic under its updated strategy. The pivot drops a 2021 pledge for a multilateral legal obligation against hydrocarbon development amid rising geopolitical tensions with Russia, China and the US. The bloc maintains opposition to Arctic drilling but shifts focus to security risks. Read →

Ukrainian President Volodymyr Zelenskiy said Trump's decision to waive key sanctions and tariffs under the Graham Act is wrong and helps only Russia. The executive order halts measures that would have imposed tariffs of up to 100% on goods from the largest importers of Russian oil or gas and 500% on Russian imports. Zelenskiy warned the move emboldens Moscow amid its war on Ukraine. Read →

Brent crude futures fell $1.43 or 1.3% to $108.43 a barrel on Monday after Trump waived sanctions and tariffs that could have restricted Russian fuel exports. WTI crude declined 53 cents or 0.52% to $100.88 a barrel. The move follows a US-Russia diesel export deal and comes as Middle East shipping attacks have cut Gulf crude flows. Read →

President Trump issued an executive order on October 16 partially implementing the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 by waiving new tariffs on Russia and countries buying its energy. The law had directed 500% tariffs on Russian imports and up to 100% duties on the top five purchasers of Russian energy products. The waiver provides temporary relief to buyers including India ahead of potential trade deal talks. Read →

US Secretary of State Marco Rubio said President Trump will use up to 60 days to assess the economic impact of waiving sanctions and tariffs under the Graham Act. The waiver, signed Friday, halts provisions due to take effect this week targeting Russian energy buyers. Rubio noted officials want time to evaluate effects on the global and US economies. Read →

US Treasury Secretary Scott Bessent called for the World Bank to drop its prohibition on financing upstream oil and gas projects. He also pushed for more support for deep-sea critical minerals mining and reforms to procurement policies. The US is making an initial contribution to a new World Bank nuclear energy trust fund. Read →

The Trump administration is considering partially easing sanctions on shadow fleet vessels that have carried oil from Russia, Iran and Venezuela. The move would allow sanctioned tankers to transport only legal, non-sanctioned crude or products after Treasury approval, aiming to increase Gulf exports and ease record-high freight rates. Oil prices fell around 2% on the news as markets priced in potential relief for shipping costs. Read →

Brent crude fell over 2% to around $103.78 a barrel and WTI dropped about 1.4% after a US official confirmed discussions on easing sanctions for shadow fleet tankers. The talks follow last week's temporary lifting of sanctions on Russian diesel and seek to boost legal oil movements from the Gulf amid Middle East shipping disruptions. Analysts noted EU and UK insurance rules would still constrain broader impact. Read →

Brent futures fell 1.6% to $104.42 a barrel as markets balanced US consideration of shadow fleet sanctions relief against ongoing attacks on shipping in the Strait of Hormuz. Recent tanker sinkings and Iranian threats have driven freight rates to records, prompting the policy discussion to increase legal crude and product flows from the Gulf. Russia’s September crude output rose modestly but remains well below year-ago levels. Read →

President Trump announced a deal with Putin for Russia to supply diesel to ease US fuel prices amid Iran war disruptions. The move temporarily lifts sanctions on Russian diesel but conflicts with a 2022 law banning such imports until Russia ends aggression in Ukraine. It raises questions about executive authority to waive sanctions ahead of midterms. Read →

Bipartisan Senate Foreign Relations Committee members say the diesel import deal violates a 2022 law requiring Russia to end Ukraine aggression first. The planned volumes equal roughly 100,000-125,000 barrels per day, too small to ease record diesel prices significantly. Futures showed minimal reaction to the announcement. Read →

A dozen senators including six Republicans called on Trump to rescind the diesel deal and instead impose new sanctions under the Lindsey Graham Act by the Oct 18 deadline. They described it as a betrayal of allies that funds Russia's war. The administration must decide on sanctions or a national interest waiver. Read →

Twelve senators including six Republicans wrote urging Trump to rescind the Putin diesel deal reached weeks after signing a law authorizing stiff sanctions on Russian oil buyers. The move risks rifts with allies and Ukraine while offering limited supply relief before Nov 3 midterms. Read →

The agreement to lift sanctions and allow Russian diesel exports drew criticism from Ukraine and European leaders for financing Moscow's war. Volumes announced are modest relative to global deficits driven by Middle East and Ukraine conflicts, unlikely to meaningfully lower US diesel prices. Read →

Following an agreement between Presidents Trump and Putin, Russia partially lifted its diesel export ban, allowing 500,000 metric tons to reach international markets starting Saturday. Russian firms will negotiate export contracts with government coordination. The US Treasury issued a temporary license permitting Russian diesel sales globally until April 2027, aiming to ease tight fuel supplies ahead of US midterms. Read →

Trump announced Russia will immediately supply over 300,000 metric tons of diesel (about 2.25 million barrels) to US and global markets, followed by 500,000 tons in November and more later, after the US lifted sanctions on Russian diesel exports. Volumes remain modest relative to global demand of roughly 100 million barrels of oil equivalent daily. Russia also began lifting its own export restrictions ahead of schedule, with Deputy PM Novak claiming potential return to pre-crisis export levels. Read →

China agreed to relax export controls on gallium, germanium, graphite and antimony, lift retaliatory tariffs on US agricultural products, and allow Nexperia semiconductor products to leave China, per a White House fact sheet detailing the Trump-Xi deal. The moves follow earlier negotiations and provide new documentation beyond Chinese ministry readouts. These changes target critical minerals used in semiconductors, batteries and other commodity-linked supply chains. Read →

President Trump issued a proclamation reducing Section 232 tariffs on agricultural equipment such as harvesters, HVAC systems, bulldozers and forklifts to 15% from 25%, effective through end-2027. Tariffs on products made abroad but containing at least 85% US steel, aluminum or copper also dropped to 10%. The changes seek to limit collateral damage from metals tariffs on US farmers, manufacturers and consumers. Read →

The Trump administration announced a 60-day Jones Act waiver for shipments of oil, natural gas, fertilizer and coal to ease supply disruptions and rising prices linked to the Iran conflict. White House spokeswoman Karoline Leavitt said the waiver allows vital resources to flow freely to US ports for 60 days. High energy and fertilizer costs pose political risks ahead of midterms, with the move following broader efforts to stabilize domestic markets. Read →

European diesel prices fell 3% and Brent crude slipped after Trump posted that Russia and Ukraine had agreed to an energy ceasefire following his diesel supply deal with Moscow. Ukrainian President Zelenskyy said he supports it but awaits details, while Russia has not confirmed. Analysts noted limited lasting supply relief expected. Read →

Following Trump's call with Putin, the US Treasury issued a temporary general license allowing Russian diesel sales and imports through April 7, 2027. Russia agreed to supply over 300,000 tons immediately plus more later, totaling up to 4.8 million tons. Volumes cover roughly 1.5 days of US demand; bipartisan senators urged reconsideration. Read →

Chinese buyers booked two US wheat cargoes (120,000 metric tons for December) and a sorghum shipment, the first wheat buys since last October. Beijing suspended some retaliatory tariffs on US farm goods post-summit, though soybeans remain at 13% duty. Traders await larger soybean volumes promised by the White House. Read →

Brent fell to around $103.18 and WTI to $90.31 per barrel on expectations of more Russian diesel supplies after Trump's ceasefire announcement and prior deal releasing over 300,000 tons immediately. ICE gasoil dropped 3%. Houthi attacks and Middle East tensions kept prices supported above $100 despite the moves. Read →

Traders plan waiver requests after China announced 10% tariffs on US crude oil and 15% on LNG, effective February 10, in retaliation for recent US tariffs on Chinese goods. Several tankers carrying 6 million barrels of US WTI and ANS crude plus LNG vessels are en route; waivers are expected for booked cargoes but harder for new deals. The move will redirect US LNG flows to Europe and other Asian buyers while China boosts imports from Qatar and Russia. Read →

The US Treasury sanctioned individuals, networks and 17 vessels transporting Iranian crude, products and petrochemicals under Operation Economic Outcast to cut funding for Iran's war efforts, missiles and IRGC. Iran has roughly 20 million barrels of crude left at sea outside the blockade, with loading halted. Analysts say the impact is limited as most oil has already been delivered. Read →

Russia extended its ban on diesel exports by producers through October 31 to protect domestic supplies amid refinery attacks. The curbs, in place since July, add pressure to global diesel markets already strained by Middle East and Ukraine conflicts and record US prices above $6.50/gallon. Russia is typically the second-largest diesel exporter after the US. Read →

The CRS report outlines Trump administration tariffs including Section 301 forced-labor duties of 10-12.5% on 60+ economies effective July 2026 and Section 232 actions on aluminum, autos and other goods. It notes the Lindsey O. Graham Act's new authorities for up to 500% duties on Russian goods and 100% on top importers of Russian energy by October 19, 2026. Read →

President Trump signed an executive order on Oct. 5 directing Treasury to defer the federal excise tax on dyed diesel for on-road use through year-end without penalties or interest. The order also directs USDA and DOT to facilitate access, especially for farmers during harvest. The move targets record diesel prices above $6.30/gallon driven by global supply disruptions. Read →

Agriculture Secretary Brooke Rollins issued a statement supporting the dyed-diesel executive order as relief for farmers hit by high fuel prices. The order expands access to tax-exempt dyed diesel for on-road use during harvest season. USDA will coordinate with cooperatives and distributors to ensure supply in high-demand rural areas. Read →

Trump signed the order in Nebraska allowing tax-free red-dyed diesel, normally for off-road farm and construction equipment, for broader highway use. The measure defers the federal highway tax and explores permanent relief amid diesel prices topping $6.30/gallon. Several states had already moved to permit dyed diesel on roads. Read →

The Oct. 5 executive order provides only temporary tax deferral on dyed diesel, which must still be repaid later, limiting immediate savings for farmers and truckers. Diesel averaged $6.30/gallon nationally, up sharply year-over-year due to supply issues. Experts note the relief may not fully pass through to consumers or offset broader cost pressures. Read →

G7 nations pledged a coordinated IEA release of 100 million barrels of crude and diesel over four months, front-loaded with substantial diesel in the first 20 days. The move follows US pressure and Trump’s earlier diesel export ban threat, with leaders agreeing no energy export restrictions among members. It targets soaring diesel prices from Middle East and Russian supply strains. Read →

The CFTC issued an advance notice of proposed rulemaking to create a federal framework for leveraged or margined retail crypto asset transactions under existing CEA authority. It would establish a new 'crypto asset market' exchange category with proof-of-reserves and anti-manipulation requirements. The step follows Congress’s failure to pass broader crypto legislation. Read →

President Trump said the US would not impose a diesel export ban, citing Europe’s agreement to release large diesel volumes from reserves. The decision came hours after the G7 announcement and eases immediate supply fears while addressing high US diesel prices ahead of midterms. Read →

EPA submitted a proposed rule to OMB to reallocate 100% of the difference between projected and actual 2025 small refinery exemptions into 2026-2027 RVOs. The move aims to restore biofuel blending demand after granting more waivers than initially estimated. It balances relief for small refiners with farm-sector pressure for sustained RFS volumes. Read →

President Trump signed an executive order directing Treasury to defer federal excise taxes on dyed diesel for on-road use through Dec. 31, 2026, without penalties or interest. Agriculture and Transportation secretaries must coordinate state and industry access to the tax-exempt fuel. The move targets record diesel prices above $6/gallon amid supply strains from Middle East conflicts and Russian export curbs. Read →

The fact sheet outlines the Oct. 5 executive order allowing off-road dyed diesel for highway use and deferring excise taxes. It credits prior G7 agreement to release 100 million barrels of crude and diesel reserves over four months, including substantial diesel in the first 20 days. Actions aim to lower costs for farmers, truckers, and workers ahead of midterms. Read →

G7 nations pledged to release 100 million barrels of crude oil and diesel from strategic reserves over four months via the IEA, with a front-loaded substantial diesel portion in the first 20 days. The coordinated action includes calls to raise refinery utilization and avoid simultaneous maintenance outages. It followed U.S. pressure and replaces earlier talk of a U.S. diesel export ban. Read →

Chinese refiners suspended petroleum product exports for October after failing to secure permits, following inventory shortfalls of roughly 20 million barrels in diesel/gasoil. The pause compounds global diesel tightness from Middle East disruptions and Russian curbs, likely pressuring Singapore prices and Asian buyers first. Exports may resume after the Golden Week holiday depending on stock recovery. Read →

President Trump ruled out a US diesel export ban on Friday after G7 nations agreed to release 100 million barrels of crude oil and petroleum products, including substantial diesel front-loaded in the first 20 days over four months. The coordinated IEA release eases immediate pressure on record US diesel prices near $6.50/gallon amid Middle East and Ukraine supply disruptions. It removes a key policy risk for refiners and global distillate markets. Read →

Chinese state-owned refiners have slowed or halted new export permits for diesel, jet fuel and gasoline outside close partners like Cambodia and Hong Kong/Macau, prioritizing domestic stocks. Beijing stopped granting commercial permits ahead of the National Day holiday, with PetroChina canceling October cargoes and estimates showing October exports potentially falling to 480,000 b/d from 750,000 b/d. The curbs tighten an already strained global refined-products market hit by wars in the Middle East and Ukraine. Read →

President Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 on September 18, requiring tariffs up to 100% on imports from the top five importers of Russian crude or natural gas and facilitators of sanctions evasion. The law also mandates higher duties up to 500% on Russian-origin goods including petroleum products and extends the Iran Sanctions Act to 2031. It creates new secondary tariff tools stacked atop existing sanctions. Read →

The Trump administration granted a 60-day Jones Act waiver allowing foreign-flagged vessels to carry fuel, fertilizer and other cargoes between US ports. The move expands available tonnage to ease domestic shortages and coastal logistics bottlenecks amid high diesel prices and supply strains. Industry groups are split, with shipbuilders opposing it and fuel producers supporting greater flexibility. Read →