Oil prices slide 2% as Trump waives Russia sanctions

Ukraine conducted one of its largest drone assaults on Russia last night, targeting a crucial oil terminal in defiance of US President Donald Trump's request to halt attacks on Russian energy infrastructure. The escalating tensions between the two nations have raised concerns in Kyiv about potentially losing crucial support as the country braces for another harsh winter under persistent Russian aggression.

On Friday, Trump invoked a waiver exempting Russia from US Congress-mandated economic penalties. President Volodymyr Zelensky told NBC News' "Meet the Press" that the US supporting Russia would be a "historic mistake." In a Truth Social post on Sunday, Trump stated that he does not want to take any actions that would push Russia away from negotiations aimed at ending the war in Ukraine, adding that he believes "great progress is being made."

Simultaneously, he criticized Zelensky, claiming that he "doesn't want to end this war, and probably never did." The Ukrainian president mentioned that he had spoken to US envoy Steve Witkoff and Trump's son-in-law Jared Kushner on Sunday as part of "nonstop communication" efforts to achieve peace. "We are doing everything on our part to make this happen, and to ensure that America's position is strong and helps bring peace closer," Zelensky posted on X. Meanwhile, Ukraine continues its long-range strikes into Russia, with the Russian defense ministry reporting that it shot down 1,015 Ukrainian drones over various parts of the country overnight.

One target was the St. Petersburg Oil Terminal, which can handle up to 12.5 million tons annually. Ukraine's Fire Point company confirmed that there was a fire on the terminal's grounds following the strike. Additionally, a logistics center in St. Petersburg and a data center for the Russian VKontakte social media platform were attacked.

One person was killed and five wounded in the assaults, with residential buildings damaged as well, according to local authorities.