The main events by the morning: January 7

• EU countries continue to purchase record volumes of gas from Russia despite the termination of transit through Ukraine. The volumes of LNG sold have already exceeded those that Moscow shipped through Ukraine before January 1. In 2024, the figure increased to 15.5 million tons of LNG, compared with 10.5 million tons in 2020. 

• The use of nuclear weapons is the «black swan» of 2025, according to Politico. The risks are increasing due to the emergence of tactical weapons with very low power. Another factor is the potential aggression of the nuclear powers (Russia, China and the DPRK) against their neighbors. Other «swans» include the outbreak of a new virus, cyber attacks, the Trump-Xi Jinping alliance, and more.

• The «hangover» continues: the Moscow Exchange index cannot rise yet. At the moment, the index fell below 2,800 points, but then bounced up a bit. Experts cite low liquidity due to the holidays as one of the reasons for the fall. At the same time, shares of Russian pharmaceutical companies, on the contrary, are growing – the market believes in them amid the outbreak of the virus in China.

• Yellen threatened China with consequences for helping Russia. The US Treasury Secretary held a virtual meeting with Vice Premier of the State Council of the People's Republic of China He Lifeng. She warned of the significant consequences that Chinese-based companies would face if they provided material support to Russia in the war against Ukraine. Yellen also spoke out against China's «non-market policy.»