The main events by the morning: March 5

• The United States, Russia and Saudi Arabia may unite to control the global oil market. Together, the countries produce about 40% of oil. Trump's position is very close to Moscow and he considers Putin a partner, and Saudi Arabia has good relations with both the United States and Russia. And at the same time, everyone wants control over the market.

• Trump successfully reported to Congress despite attempts by Democrats to disrupt the speech. The US president noted that in just a month and a half he had achieved more than in other years of work, and this was «just the beginning.» He considers the freezing of international aid to be one of the main achievements. Trump also promised that for the first time in the new millennium, the United States will have a balanced budget, as well as incredible benefits for industry in the United States. 

• Ontario Premier Doug Ford announced a 25% tariff on electricity exports to Minnesota, Michigan and New York in response to the US duties. Ontario may cut off supplies of electricity and nickel, on which the United States depends for 50%. The participation of American companies in government contracts is also prohibited and the contract with Starlink has been terminated. Canada has imposed duties on C$30 billion ($20.7 billion) and is preparing new ones for C$125 billion.

• In 2025, China will increase the issue of government bonds to support the economy. The limit on new debt obligations of local authorities will be 4.4 trillion yuan ($605.6 billion), which is 500 billion yuan more than in 2024. It is also planned to issue $178.8 billion of ultra-long-term bonds (+$41.3 billion). $110 billion will be allocated for key strategies, $68.81 billion for modernization and trade.

• Trump announced plans to cooperate with Japan, South Korea and other countries to build a gas pipeline in Alaska. The partners are ready to invest «trillions of dollars.» The details of the project are being discussed, and a working group has been set up. Japan is assessing profitability, and South Korea is negotiating. The 1,300 km long gas pipeline is expected to strengthen the allies' energy supplies.