United States

As promised (or threatened), the Obama administration has unveiled - via the US Treasury - new sanctions against Russia over election hacking allegations (that as yet have not been supported by any actual evidence). Despite president-elect Trump's comments that "we ought to get on with our lives," the sanctions apply to five entities and six individuals, and also including the expulsion of 35 Russian diplomats and closing two Russian compounds in New York and Maryland in response to a campaign of harassment against American diplomats in Moscow, a senior U.S. official said on Thursday.

Two days ago, Turkey's outspoken president Erdogan, now grudgingly pivoting into the Russian sphere of influence and away from NATO, accused the US of supporting and arming ISIS and said he has "confirmed evidence" to back up his claim: "They give support to terrorist groups including ISIS" Erdogan said during a speech in Ankara on Tuesday, adding that US coalition forces "give support to terrorist groups including Daesh, YPG, PYD. It's very clear. We have confirmed evidence, with pictures, photos and videos."

Submitted by Leonard Hyman & William Tilles via OilPrice.com,

As noted previously, at some point today the White House is set to unveil new sanction, and other retaliatory "measures" against Russia and specifically the Kremlin, in retaliation for what according to a constantly repetitive narrative has been Russian hacking of the US election. Obama will do so by using a 2015 executive order that would allow the president to freeze the US assets of Russians overseas who have engaged in cyber acts, even though such order only applies to actions that have threatened U.S.

One day after the biggest drop in US stocks in over two months, taking the Dow ever further from the "promised" Dow 20000, global stocks struggled as they tried to close out 2016 on a positive note. The dollar dropped the most in two weeks, sliding alongside bond yields, while oil retreated from its highest close in 17 months as investors prepared to close out a volatile year for financial markets. European stocks slid from a 2016 peak, and extended losses for 2016 after briefly going green for the year.