On Friday, President Trump announced that Russia will supply large volumes of diesel to the U.S. and global markets after a phone call with Vladimir Putin, and the Treasury Department waived sanctions on Russian diesel the same day. With diesel prices at record levels, the headline numbers sound big. Here is what is confirmed and what isn't. What Was Announced Trump wrote on Truth Social that Russia will immediately supply more than 300,000 tons of diesel, followed by 500,000 tons in November and 1 million tons right after that. A further 3 million tons would follow within a short period, he said, depending on the condition of Russia's refineries. Added together, the four tranches come to 4.8 million tons, while CNBC reported the total as more than 4 million. Trump predicted diesel prices would be "coming down, in record numbers, and fast," according to Axios. The Sanctions Waiver Shortly afterward, the Treasury's Office of Foreign Assets Control issued General L...
With the November midterms approaching, two major economic announcements tied to the administration made headlines this week. One has already run into a factual dispute. The other remains an unfunded campaign promise with no official implementation plan. Here's what's verified, what isn't, and why the distinction matters. The Alaska Pipeline Claim That Fell Apart According to CNN, the administration announced what it called "one of the largest energy projects in American history" an Alaska natural gas pipeline framed as a $54 billion investment from South Korea, per a statement from Senator Dan Sullivan's office. The announcement promised Alaskans thousands of dollars in savings on energy bills. Within days, CNN reports, South Korea disputed the characterization of the deal. By Friday, officials were describing Wednesday's joint announcement as "historic" while acknowledging South Korea had not actually signed anything. That's a meaning...