Why Sanctions Failed to Restrain Russia’s Oligarchs - Stanford Graduate School of Business

President Donald Trump, center, next to Nvidia CEO Jensen Huang, left, and Elon Musk, right, speaks in the East Room of the White House in Washington, Tuesday Sept. 29, 2026, surrounded by top executives of AI firms including, from top left, Microsoft CEO Satya Nadella, Greg Brockman, President of OpenAI, House Speaker Mike Johnson, AMD CEO Lisa Su, Palo Alto Networks Chief Executive Nikesh Arora, and David Sacks. [AP Photo/Jacquelyn Martin]US President Donald Trump hosted the heads of Nvidia, Meta, Google, Microsoft, Amazon and other technology companies for lunch at the White House Tuesday, declaring that the industry should regulate itself and presenting a “voluntary” accord with no enforcement mechanism. This was the latest in a series of such meetings held since Trump’s reelection, in which the fascist president has made clear the total subservience of his administration to the needs of the oligarchy. “There’s a belief that there should be tremendous self-regulation, and we automatically have regulation with the Department of Justice, the FBI, all of that. But the self-regulation is very important,” Trump told reporters in the East Room, with the executives beside him.