A police car is parked in front of a burning oil terminal following an air attack in St. Petersburg on Oct. 18, 2026, amid the ongoing Russian-Ukrainian conflict. Russia shot down dozens of Ukrainian drones near Saint Petersburg, authorities said on Oct. 18, 2026, with an oil terminal hit and flights disrupted at one of the country’s busiest airports.
Stringer | AFP | Getty Images
Hello, this is Hui Jie writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open.
Ukraine launched more than 1,000 drones at targets across Russia over the weekend, with strikes setting energy facilities ablaze in St. Petersburg. But tensions between President Volodymyr Zelenskyy and U.S. President Donald Trump on the diplomatic front have also complicated Ukraine’s warfighting efforts.
Volodymyr Zelenskyy is fighting a war of attrition against Russia, and an increasingly difficult war of persuasion in Washington.
Even as Kyiv launches a massive drone strike against the Russian city of St Petersburg and tries to hold back Russian forces on the ground, Zelenskyy is fighting on the diplomatic front to keep Washington in his country’s corner.
Over the weekend, Trump defended his decision to lift sanctions on Russian diesel export, as well as suspending new duties on Russian goods and major Russian energy buyers.
The move had attracted bipartisan criticism that he was favoring Russian President Vladimir Putin’s interests over those of Ukraine.
Zelenskyy has described the decision as “wrong,” and said in an NBC interview that should the U.S. side with Russia in the war, Ukraine will not prevail.
He also said that Washington was restricting Kyiv’s Starlink and Starshield networks, hindering the country’s ability to respond to Russian assaults.
U.S. Treasury Secretary Scott Bessent then warned the Ukrainian president to “be careful” in public statements about U.S. support for Ukraine.
“President [Donald] Trump and Secretary [Marco] Rubio have categorically said that no one under the Trump administration did that, and I think it is very reckless for President Zelenskyy to make such a charge,” Bessent said on “Meet the Press.”
“President Zelenskyy should be very careful about making statements like this that aren’t true,” he added.
When he was asked whether Trump is still an ally of Ukraine, Zelenskyy said: “I hope so.”
The U.S. President has also blamed Ukraine’s strikes on Russian energy facilities for rising diesel prices, and accused Zelenskyy for not wanting to end the war.
However, a so called “energy ceasefire” last week saw Russia continue to hit Ukrainian energy infrastructure while Kyiv said it paused strikes for three days.
Oil prices have dipped slightly, but are still elevated, with international benchmark Brent at about $107.82 and U.S. West Texas Intermediate at $100.65 in early Asia trade.
Across the Atlantic, French President Emmanuel Macron on Sunday voiced the public’s “anger” and “shame” over rioting and looting during nationwide protests.
“Those who looted will have to pay back for the damage, and those who sought to bring down the Republic will be held accountable,” Macron said in a televised address to the nation.
He blamed “unrestrained violence” on “insurrectionist elements from radical far-left groups, joined by numerous criminals.”
France has seen protests over living costs and poor school conditions, with riots in cities like Paris, Marseille, Lyon and Bordeaux.
Anthropic’s public benefit fund
Over in the tech world, Anthropic said Sunday it plans to commit 5% of its shares to a new public benefit fund, with the stake potentially increasing as the company’s valuation grows.
The plan is still subject to shareholder approval. The company’s board will then add, at its discretion, an additional 2% for every 50% increase in the company’s value above a set baseline that has yet to be disclosed.
The fund may be used to “explore large donations” — including to traditional nonprofits or as direct distributions for specific populations — or for “bolder approaches” to study and address AI’s disruption and displacement of jobs, the company said.
— Lim Hui Jie
Semiconductor market to remain solid ‘at least through next year,’ South Korea finance minister says
The semiconductor boom will last at least through 2027, South Korean finance minister Lee Hyoung-Il said on Saturday.
“For now, our view is that we can sustain this growth at least through next year,” Lee told CNBC on the sidelines of the IMF-World Bank annual meetings in Bangkok. “That’s because the gap between demand and supply for semiconductors is still very wide, and supply is still being expanded.”
His comments come after semiconductor stocks fell sharply this week, hurt by investor concerns about interest rate hikes and rising competition from Chinese companies. South Korean chip stocks like SK Hynix and Seoul Semiconductor were part of the sell-off, along with U.S. giants like Nvidia.
— Amelia Lucas, Lisa Kim