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Russia and West at odds over gas payments in roubles

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Russia said on Monday it will not supply gas to Europe for free as it works out methods for accepting payments for its gas exports in roubles but G7 nations refused the demand.

At a meeting of European Union leaders on Friday, no common position emerged on Russia’s demand last week that “unfriendly” countries must pay in roubles, not euros, for its gas in the wake of the United States and European allies teaming up on a series of sanctions aimed at Russia, Reuters reported.

Concerns over security of supply were enhanced after the demand, with companies and EU nations scrambling to understand the ramifications.

The Russian central bank, the government and Gazprom (GAZP.MM), which accounts for 40% of European gas imports, should present their proposals for rouble gas payments to President Vladimir Putin by March 31.

“We are not going to supply gas for free, this is clear,” Kremlin spokesman Dmitry Peskov told a conference call. “In our situation, this is hardly possible and appropriate to engage in charity (with European customers).”

In a interview aired later on Monday with the American public broadcaster PBS, when asked whether gas would be turned off for non-payers, Peskov replied: “No payment – no gas.”

But he added that Russia is yet to take a final decision on how to respond should European countries refuse to pay in the Russian currency.

Meanwhile, energy ministers from the Group of Seven industrialized nations rejected the rouble payment demands, Germany economy and climate protection minister Robert Habeck said after talks with his counterparts, Reuters reported.

“All G7 ministers have agreed that this is a unilateral and clear breach of existing contracts,” he told reporters after a virtual conference with G7 energy ministers.

The ministers “underlined once again that the concluded contracts are valid and the companies should and must respect them … payment in roubles is unacceptable, and we call on the companies concerned not to comply with Putin’s demand,” he said.

Dutch and British wholesale gas prices rose by up to 20% on Monday on concerns about Russian gas supply.

The EU aims to cut its dependency on Russian gas by two-thirds this year and end Russian fossil fuel imports by 2027. Russian gas exports to the EU were around 155 billion cubic metres (bcm) last year.

On Friday, the United States said it will work to supply 15 bcm of liquefied natural gas (LNG) to the European Union this year.

However, the EU would struggle to replace all Russian gas exports in a short period of time, experts said.

Russian gas deliveries to Europe on three main pipeline routes were stable on Monday, with the Yamal-Europe pipeline continuing to flow eastwards from Germany into Poland, operator data showed.

Russia’s Gazprom (GAZP.MM) said it that it was continuing to supply natural gas to Europe via Ukraine in line with requests from European consumers.

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White House declares ‘Trump is still your president’ after Republicans suffer sweeping midterm defeats

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The White House has issued a defiant message following a crushing performance by Republicans in the US midterm elections, declaring that Donald Trump remains president despite significant gains by the Democrats.

In a post on X on Wednesday, the White House shared an image of Trump bearing the words: “TRUMP IS STILL YOUR PRESIDENT.” The accompanying message added: “Thank you for your attention to this matter.”

The statement came after Democrats secured a Senate majority and made major gains in traditionally Republican strongholds, including Texas, Kansas, South Carolina and Ohio.

The midterm elections, which determine control of Congress, were widely viewed as a referendum on Trump’s presidency. All 435 seats in the House of Representatives and 35 of the 100 Senate seats were contested.

The war in Iran and mounting cost-of-living pressures were among the issues believed to have contributed to the Republican setbacks.

Trump acknowledged that the conflict with Iran had affected the election results, particularly through its impact on fuel prices, but defended his decision to pursue the war.

Speaking to Politico, he said the conflict had pushed gasoline prices higher in the short term, but maintained that military action was necessary in the long run.

Iranian officials welcomed the election outcome. Parliament Speaker and chief negotiator Mohammed Bagher Ghalibaf wrote on X that American voters had rejected war, saying: “Conscience or the cost of living, Americans said NO TO WAR.”

Trump also reflected on his campaign rallies, saying the enthusiasm surrounding his appearances had failed to translate into support for Republican candidates.

“They just couldn’t transfer that love,” he said.

Although Trump indicated he was prepared to work with Democrats, he warned that political gridlock could follow, threatening to use his presidential veto to block their legislative agenda.

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Democrat Abdul El-Sayed becomes first Muslim elected to US Senate

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Democrat Abdul El-Sayed has won Michigan’s US Senate race, defeating former Republican lawmaker Mike Rogers and becoming the first Muslim elected to the US Senate, according to US television networks.

“Michigan, we did it!” El-Sayed declared at his victory celebration in Detroit, where hundreds of supporters gathered to celebrate.

“I am so proud and honoured to stand here as your senator-elect from the great state of Michigan,” the 42-year-old said.

El-Sayed secured the victory despite a late campaign setback when Democratic Congresswoman Haley Stevens, whom he defeated in the party primary, endorsed Rogers shortly before election day.

A former medical administrator, El-Sayed campaigned on progressive promises, including universal healthcare, reducing the influence of money in politics and tackling the rising cost of living.

He replaces retiring Democratic Senator Gary Peters and held a lead of nearly six percentage points over Rogers when US networks called the race.

His campaign attracted large crowds across Michigan, including in traditionally Republican areas, while drawing support from labour unions, activists and younger voters.

Republicans had launched a fierce campaign against El-Sayed, portraying him as a radical and questioning his patriotism. He also faced Islamophobic attacks and mockery over his Arabic name from President Donald Trump and Vice President JD Vance.

Addressing Vance during his victory speech, El-Sayed said the vice president was constitutionally obligated to swear him into office in January.

The victory came amid a strong showing by Democrats in several races, prompting jubilant supporters at El-Sayed’s headquarters to chant: “Tsunami! Tsunami!”

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Democrats seize control of Congress in major setback for Trump

The Democrat’s gains extended to the House of Representatives, where the party overturned Republican advantages in several states, including Iowa, Florida, Pennsylvania and Texas.

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Democrats have stormed to victory in the US midterm elections, capturing control of both chambers of Congress in a stunning political reversal that delivers a major blow to President Donald Trump and his Republican Party.

The results of Tuesday’s elections saw Democrats break through in traditionally Republican strongholds, flipping key Senate seats in Texas, South Carolina and Kansas, where Republicans had expected to hold their ground.

Among the biggest upsets was James Talarico’s Senate victory in Texas, where Democrats had not won a statewide office in more than 30 years. In South Carolina, Annie Andrews defeated Republican Senator Darline Graham, while Troy Jackson unseated Republican Senator Susan Collins in Maine.

The Democratic gains extended to the House of Representatives, where the party overturned Republican advantages in several states, including Iowa, Florida, Pennsylvania and Texas.

Trump faces two difficult years

The scale of the defeat is a serious setback for Trump, who spent much of the final campaign stretch rallying supporters and backing Republican candidates. Several of those candidates went down to defeat despite his personal endorsements.

Voters appeared to deliver a clear message, with rising living costs, economic frustration, the war in Iran and concerns over government corruption emerging as major issues.

Trump sought to play down the results, insisting he had not been on the ballot and blaming the defeat on the candidates rather than his own leadership.

Democratic leaders, meanwhile, celebrated what they described as a historic political shift, promising tougher oversight of the administration and investigations into senior officials.

With Democrats now controlling both chambers, Trump’s legislative agenda faces a formidable obstacle. The party has also signalled that investigations into the administration, including questions surrounding the president’s personal interests and the conduct of senior officials, will be a priority.

The outcome marks one of the most significant political setbacks of Trump’s presidency, transforming the balance of power in Washington and setting the stage for two turbulent years ahead.

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