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commodity market

​A French navy boat intercepts and redirects a suspected Russian oil tanker in the Gulf of Fos-sur-Mer, near Martigues, France, on January 25, 2026.
Hard Numbers

Russia reportedly smuggles its oil in droves, Tunisia slips further away from democracy, Argentina’s labor reform bill clears another hurdle, Rough day for diamond giant

$90 billion: The amount of revenue that Russia has reportedly made from smuggled crude oil exports, after 48 companies worked together to help disguise the origin of the oil and circumvent sanctions that have been imposed since the full-scale war on Ukraine began.

A damaged section of a highway in Nuwakot, central Nepal
What We're Watching

Devastation in Nepal and China after flash flood, Tanzania’s political infighting tests its political stability, French presidential candidates face off in first debate

A massive wall of mud and rock crashed into a river along Nepal’s Himalayan border with Tibet on Wednesday, triggering catastrophic flooding that swept away bridges, destroyed buildings, swamped roads, and killed over 300 people.

A jewelry store in the Diamond District of Manhattan, New York City, USA, on August 6, 2025.
Analysis

Diamonds are forever, but their high prices aren’t

GZERO spoke to Eurasia Group’s Commodities Director Tim Puko to better understand why the diamond industry has tanked, and the consequences of this for geopolitics.