Analysts say fuel will take weeks to ship and quantity is too small to affect prices, while full deal is unlikely to be met given damage to Russian refineries

• Trump announces partial ceasefire but Zelenskyy says deal is ‘news to me’

Donald Trump’s deal with Vladimir Putin to temporarily lift sanctions on US imports of Russian diesel will have little “meaningful” effect on motorists and businesses in the US and overseas, energy and foreign policy analysts have predicted.

The US president infuriated Volodymyr Zelenskyy when he announced the deal on Friday, writing on Truth Social that the agreement with his Russia counterpart to supply millions of tonnes of diesel was essential to reduce fuel prices in the US, which have soared after his decision to go to war against Iran.

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© Photograph: Patrick T Fallon/AFP/Getty Images

© Photograph: Patrick T Fallon/AFP/Getty Images

© Photograph: Patrick T Fallon/AFP/Getty Images

‘Even if AI supercharged the economy, its impact on the government’s finances would be muted’

Back through political history to the age of Ronald Reagan, Republicans have repeatedly promised the US public that tax cuts would pay for themselves, firing up economic growth and filling the government’s coffers.

The promise never really panned out. From the Gipper’s day on, the Republicans’ tax cuts inevitably increased the budget deficit. Despite its failure, though, the promise is back, coated in a fine new layer of artificial intelligence pixie dust. It will fail again.

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© Photograph: Alex Brandon/AP

© Photograph: Alex Brandon/AP

© Photograph: Alex Brandon/AP

Our business, labor and consumer rights reporters will answer your questions in a live Q&A on Thursday 15 October

The US economy is top of voters’ minds ahead of the November midterms with food and gas prices remaining high, the job market unstable, consumers angrier than ever, and a new Fed chair, Kevin Warsh, in place.

We’ll be hosting a live midterm election Q&A on Thursday 15 October 2026 at 12pm EDT on the Guardian US site with a panel of our business, labor and consumer rights reporters: Lauren Aratani, Michael Sainato, Heather Timmons and Gaya Gupta. The team will cover cost of living challenges, tariffs, inflation and new federal policy proposals from local candidates.

Will the Iran war cost Trump in the US midterm elections? Your questions answered

Who are the groups financially backing the candidates in the midterms?

The makeup of the Democratic party, plus key races to watch

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© Illustration: Teresa Lo/Guardian Design

© Illustration: Teresa Lo/Guardian Design

© Illustration: Teresa Lo/Guardian Design

The program would grant citizenship to people who make major investments in Argentina. Similar efforts have yielded significant income for small economies, but have also led to risks.

© Victor Moriyama for The New York Times