On October 18, 2026, a police car is parked in front of a burning oil terminal following an air raid in St. Petersburg, where the conflict between Russia and Ukraine continues. Russia shot down dozens of Ukrainian drones near St. Petersburg on October 18, 2026, authorities said, causing a collision with an oil terminal at one of the country’s busiest airports and disrupting flights.
Stringer | AFP | Getty Images
Hello, my name is Hui Jie 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, and an attack set an energy facility ablaze in St. Petersburg. But diplomatic tensions between President Volodymyr Zelensky and US President Donald Trump are also complicating Ukraine’s combat efforts.
What you need to know today
Volodymyr Zelensky is engaged in a war of attrition against Russia and an increasingly difficult war of persuasion in Washington.
Zelenskiy is fighting diplomatically to force Washington into his corner, even as Kiev has launched a massive drone attack on the Russian city of St. Petersburg and is trying to deter Russian forces on the ground.
President Trump defended his decision over the weekend to lift sanctions on Russian diesel exports and suspend new tariffs on Russian goods and major Russian energy buyers.
The move drew bipartisan criticism for putting Russian President Vladimir Putin’s interests ahead of Ukraine’s.
President Zelensky called the decision “wrong” and said in an interview on NBC that Ukraine would not win if the United States sided with Russia in the war.
He also said Washington has restricted Kiev’s Starlink and StarShield networks, hampering the country’s ability to respond to Russian attacks.
US Treasury Secretary Scott Bessent then warned Ukraine’s president to be “careful” in public statements regarding US support for Ukraine.
“President (Donald) Trump and Secretary (Marco) Rubio have been adamant that no one did anything like that under the Trump administration, and I think it’s very reckless for President Zelenskiy to make such an accusation,” Bessent said on “Meet the Press.”
“President Zelenskiy should be extremely careful about statements like this that are contrary to the facts,” he added.
Asked if President Trump was still an ally of Ukraine, Zelensky said: “I hope so.”
The US president also blamed Ukraine’s attacks on Russian energy facilities for the rise in diesel prices and accused President Zelenskiy of not wanting to end the war.
But last week’s so-called “energy ceasefire” saw Russia continue to attack Ukraine’s energy infrastructure, with Kiev announcing a three-day halt to attacks.
Oil prices fell slightly but are still rising, with international benchmark Brent at around $107.82 and US West Texas Intermediate at $100.65 in early Asian trading.
French protests
Across the Atlantic, French President Emmanuel Macron on Sunday expressed his people’s “outrage” and “shame” over the rioting and looting during nationwide protests.
“Those who looted will have to pay for the damage, and those who tried to destroy the republic will be held accountable,” President Macron said in a televised address to the nation.
He blamed the “unrestrained violence” on “insurgents from radical far-left groups joined by numerous criminals.”
Protests have erupted in France over the cost of living and poor school conditions, with riots breaking out in cities including Paris, Marseille, Lyon and Bordeaux.
Anthropic Public Interest Fund
In the technology world, Anthropic announced Sunday that it plans to invest 5% of its stock in a new public benefit fund, with the potential for that stake to increase as the company’s valuation rises.
The plan still requires shareholder approval. Thereafter, the company’s board of directors, at its discretion, will add an additional 2% for every 50% increase in corporate value above the established threshold, which has not yet been disclosed.
The fund could be used to “consider large donations,” such as donations to traditional nonprofits or direct distributions to specific people, or for “bolder approaches” to researching and addressing AI disruption and job loss, the company said.
— Lim Huijie
And finally…
South Korea’s finance minister says the semiconductor market will remain strong “at least until next year”
South Korea’s Finance Minister Lee Hyung-il said Saturday that the semiconductor boom will continue until at least 2027.
“Right now, we think we can sustain this growth at least until next year,” Lee told CNBC on the sidelines of the IMF/World Bank annual meeting in Bangkok. “That’s because the gap between demand and supply for semiconductors remains very large, and supply is still expanding.”
His comments came after semiconductor stocks tumbled this week on investor concerns about rising interest rates and increased competition from Chinese companies. South Korean semiconductor stocks such as SK Hynix and Seoul Semiconductor, as well as major US stocks such as Nvidia, also joined the decline.
— Amelia Lucas, Lisa Kim
