The global financial and energy system has suffered a double historic jolt. The US national debt has officially crossed the psychological threshold of $40 trillion for the first time in history, becoming the biggest red light for the global economy Reuters. In parallel with this, a large-scale investigation by the Reuters agency revealed how, behind the scenes, India and the US manage to secretly “reap the fruits” from geopolitical chaos, monopolizing and earning billions from the oil market Reuters.
Current data from the US Treasury Department CNBC shows that gross national debt has crossed the line faster than all analysts' forecasts Washington Post. The situation is dramatically complicated by the ongoing six-month war in Iran, massive defense spending, and huge interest payments CTPost, which already exceeds $1 trillion annually Washington Post.
Double Helix: Debt under Trump and Biden
According to the official report published by Reuters (source: https://www.reuters.com/world/us-debt-crosses-40-trillion-threshold-after-doubling-under-trump-biden-2026-08-19/), the US debt has literally doubled over the past decade Al Jazeera. The staggering sum equates to nearly $117,000 in debt for every single American citizen. Al Jazeera.
Experts emphasize that responsibility is shared between the two main political forces in the US NYTimes:
Donald Trump: During his two terms in the White House (including the $3.8 trillion accumulated since his return in January 2025), the debt has grown by a total of $11.6 trillion Reuters. The main drivers are the big tax cuts and unforeseen refunds of court-blocked tariffs NYTimes, NPR. Joe Biden: In his four years in office, his administration has added $8.4 trillion Reuters, fueled by massive social packages to recover from the pandemic, clean energy subsidies and large-scale infrastructure projects Reuters.Investors in bond markets reacted quickly. The yield on 30-year U.S. Treasuries jumped to their highest level in nearly two decades NPR, making borrowing more expensive globally NPR, Washington Post.
How India and the U.S. are “reaping the fruits“ in the fuel market
While Washington faces a domestic fiscal crisis, a radically different scenario is unfolding on the international stage. An exclusive Reuters analysis (source: https://www.reuters.com/business/energy/us-indian-fuel-exporters-profiting-supply-uncertainty-during-wars-2026-08-19/) reveals that refiners in the United States and India are quietly sharing the oil market Reuters. The two countries are reaping billions of dollars in net profits, taking advantage of supply uncertainty caused by the blockade of the strategic Strait of Hormuz and conflicts in the Middle East and Ukraine Reuters, Reuters.
India established itself as a "swing supplier" (flexible supplier) for Asia Reuters. The country is resisting the pressure thanks to record imports of cheap Russian crude oil (reaching 43.25% of its total imports) Reuters, which refines and resells on international markets at huge margins Reuters. At the same time, the US set an absolute historical record, exporting 95.4 million barrels of pure petroleum products (diesel, gasoline and jet fuel) in July alone Reuters.
US diesel fuel margins reached an unprecedented $102 per barrel Reuters after new attacks on refineries in Russia and the Middle East Reuters. This radically rebalances the forces and brings colossal revenues to US and Indian energy giants Reuters.
Risks to global stability
Economists warn that the current model is unsustainable in the long term CTPost. The brutal growth of US debt calls into question the status of the dollar as the world's reserve currency NYTimes. The US Congress will be forced to vote on a new debt ceiling hike (currently pegged at $41.1 trillion) as early as next year Washington Post to avoid a collapse and an unprecedented technical default Washington Post.
While refiners are profiting from the market chaos Reuters, ordinary consumers around the world are already feeling the brunt through the rising cost of living and expensive energy resources CTPost.