According to Leonid Mikhelson, CEO of Russia's Novatek, excluding Russian liquefied natural gas (LNG) from the global market will inevitably lead to higher gas prices. He stated that Russia contributes over 10 percent of global LNG production, making its removal from the gas balance unrealistic.

• The EU recently approved its 19th package of sanctions against Russia, including a ban on Russian LNG imports, to be implemented in two phases.
• Novatek's CEO Leonid Mikhelson, made these remarks at the Verona Eurasian Economic Forum on Thursday.
• U.S. LNG deliveries to Europe surged by 60 percent year-on-year in the first three quarters of this year, securing nearly 60 percent of Europe's total LNG imports, while Russia remained the continent’s second-largest supplier.

The U.S. Senate voted 51-47 to eliminate the national emergency cited by President Donald Trump for imposing global tariffs, though this vote is largely symbolic as the U.S. House previously passed legislation blocking such challenges until March.

• The United States has collected about 88 billion U.S. dollars in tax revenue from tariffs through August.
• Four Republicans joined Democrats to vote for ending the national emergency, indicating growing disagreement among lawmakers.
• The U.S. Supreme Court will hear a case on Trump's tariffs on November 5, after two lower courts ruled them illegal.

The US made an unusual intervention in Argentina's economy, buying pesos and establishing a $20 billion currency swap line to stabilize the currency and aid Trump ally President Javier Milei ahead of midterm elections.

• Despite US commitments, the Argentine peso has fallen roughly 30% this year, including approximately 4% in the last month.
• US Treasury Secretary Scott Bessent, a former currency trader, defended the move, contrasting it with his past speculation against the British pound.
• The intervention, which Democrats and some Republicans have criticized as contrary to "America First", helped Milei's party secure significant wins in midterm elections, but financial success remains uncertain.