Georgia's president accuses Russia of election meddling and urges the West to back protests

TBILISI, Georgia (AP) — Georgia’s president on Monday urged the West to support opposition protests after the governing party was declared the winner of a parliamentary election that she alleged was rigged with the help of Russia.

President Salome Zourabichvili, who refused to recognize the official results, told The Associated Press that the South Caucasus nation has fallen victim to Russian pressure aimed at derailing Georgia's plans to join the European Union.

“We’ve seen that Russian propaganda was directly used,” said Zourabichvili, a fierce critic of Georgian Dream, the governing party. She said the government has been “working hand-in-hand with Russia,” and “probably” received help from Moscow's security services.

The U.S. and the European Union urged full investigations of the result of Saturday's election.

“Georgians, like all Europeans, must be masters of their own destiny,” said EU Commission President Ursula von der Leyen.

On Sunday, Zourabichvili stood alongside opposition leaders and urged Georgians to join a rally on the main street of the capital, Tbilisi, on Monday night to protest what she called a “total falsification, a total stealing of your votes.”

The Central Election Commission said the Georgian Dream party received 54.8% of the vote with almost all ballots counted. The party — established by Bidzina Ivanishvili, a shadowy billionaire who made his fortune in Russia — has become increasingly authoritarian in the past year, adopting laws similar to those used by the Kremlin to crack down on freedom of speech and LGBTQ+ rights.

Protest is the only way Georgians can “express that their votes have been stolen, that their future has been stolen,” Zourabichvili told AP in an interview.

She said she hopes the U.S. and EU back the demonstrations.

“We need to have the firm support of our European partners, of our American partners,” Zourabichvili said, adding that it was in the interests of “a powerful Europe” to be present in the Caucasus and for the region to be stable.

Asked if she wants sanctions imposed on Georgian officials, Zourabichvili told AP that it's up to Western leaders but that “certainly time has not come to to renew relations with authorities that are not legitimate at this point.”

U.S. Secretary of State Antony Blinken urged Georgia’s political leaders to “respect the rule of law, repeal legislation that undermines fundamental freedoms, address deficiencies in the electoral process, and move Georgia toward its Euro-Atlantic future.”

He called for a full investigation of all reports of election-related violations, as did EU Commission spokeswoman Nabila Massrali, who said Georgian Dream’s campaign was “directly inspired” by Russian propaganda and there were “unprecedented levels of disinformation.”

The Kremlin has rejected the accusations of interference.

“We aren’t meddling in Georgia’s internal affairs, and we have no intention of meddling,” Kremlin spokesman Dmitry Peskov said. He countered that it was the West that had tried to influence the vote.

Asked about Zourabichvili’s call for the Georgians to join protests, he described it as an attempt to destabilize the country.

Parliament speaker Shalva Papuashvili, a member of Georgian Dream, accused the president of creating “a coup scenario” that goes “against the constitutional order and democratic elections.”

In Georgia's political system, the presidency is a largely ceremonial post.

The EU suspended Georgia’s membership application process indefinitely because of a Russian-style “foreign influence law” passed in June. Many Georgians viewed Saturday’s vote as a pivotal referendum on the opportunity to join the EU.

The election campaign in the nation of 3.7 million people, which borders Russia, was marked by a bitter fight for votes and allegations of a smear campaign. European observers said the election took place in a “divisive” environment marked by intimidation and instances of vote-buying, double voting and physical violence.

During the campaign, Georgian Dream used “anti-Western and hostile rhetoric ... promoted Russian misinformation, manipulations, and conspiracy theories,” said Antonio López-Istúriz White, head of the European Parliament monitoring delegation.

Election observers said instances of intimidation and other violations were particularly noticeable in rural areas.

Georgian Dream scored its highest share of the vote — almost 90% — in the Javakheti region of southern Georgia. In the capital it received no more than 44% in any district.

Prime Minister Irakli Kobakhidze, a member of Georgian Dream, described his party’s success as “impressive and obvious,” and that “any attempts to talk about election manipulation ... are doomed to failure.”

Initial figures suggested voter turnout was among the highest since Georgian Dream first won control of parliament in 2012. The party has vowed to continue pushing toward EU accession but also wants to “reset” ties with Georgia’s former imperial master, Russia. In 2008, Georgia fought and lost a brief war with Russia, which then recognized the independence of two breakaway Georgian regions and bolstered its military presence there.

European Council President Charles Michel urged Georgian officials to “swiftly, transparently and independently investigate” the electoral irregularities and said Georgian Dream should demonstrate its “firm commitment” to the EU.

Hungary’s Victor Orbán, who was the first foreign leader to congratulate Georgian Dream, arrived Monday on a two-day visit to Georgia.

Zourabichvili said he was a “special friend” of Georgian Dream and dismissed his visit as a “political play.”

Orban does not have “any mandate from the EU Council” to visit Georgia, Massrali said on behalf of the EU.

Associated Press journalists Sophiko Megrelidze in Tbilisi and Raf Casert in Brussels contributed.

Eoghan Murphy, head of OSCE/ODIHIR observer mission, speaks to the media after the parliamentary election in Tbilisi, Georgia, Saturday, Oct. 26, 2024. (AP Photo/Zurab Tsertsvadze)

Pawel Herczynski, EU Ambassador to Georgia, center, and Meline Arakelian, Ambassador Extraordinary and Plenipotentiary of the Kingdom of the Netherlands to Georgia attend an OSCE/ODIHIR observer mission joint news conference after the parliamentary election in Tbilisi, Georgia, Saturday, Oct. 26, 2024. (AP Photo/Zurab Tsertsvadze)

Elene Khoshtaria, the leader of the Strong Georgia Coalition, speaks to the media at the coalition's headquarters after the parliamentary election in Tbilisi, Georgia, early Sunday, Oct. 27, 2024. (AP Photo/Zurab Tsertsvadze)

Elene Khoshtaria, the leader of the Strong Georgia Coalition, holds a ballot at a polling station during the parliamentary election in Tbilisi, Georgia, Saturday, Oct. 26, 2024. (AP Photo/Zurab Tsertsvadze)

Nika Gvaramia, leader of Coalition for Changes, center, speaks to the media as Elene Khoshtaria, the leader of the Strong Georgia Coalition, left, and Nana Malashkhia, who leads the Coalition for Change parliament list, right, stand near at coalition's headquarters after the parliamentary election in Tbilisi, Georgia, early Sunday, Oct. 27, 2024. (AP Photo/Zurab Tsertsvadze)

Elene Khoshtaria, the leader of the Strong Georgia Coalition, center, speaks to the media, accompanied by Zurab Japaridze, chairman of the Girchi More Freedom party, left; Nika Melia, a leader of Coalition for Changes, second left, Nika Gvaramia, leader of Coalition for Changes, second right, and Nana Malashkhia, who leads the Coalition for Change parliament list, right, at the coalition's headquarters after the parliamentary election in Tbilisi, Georgia, early Sunday, Oct. 27, 2024. (AP Photo/Zurab Tsertsvadze)

An election commission member, right, helps Elene Khoshtaria, the leader of the Strong Georgia Coalition, cast her ballot at a polling station during the parliamentary election in Tbilisi, Georgia, Saturday, Oct. 26, 2024. (AP Photo/Zurab Tsertsvadze)

Nika Gvaramia, leader of the Coalition for Changes, center, speaks to the media as Elene Khoshtaria, the leader of the Strong Georgia Coalition, left, and Nana Malashkhia, who leads the Coalition for Change parliament list, right, stand near at coalition's headquarters after the parliamentary election in Tbilisi, Georgia, on Sunday, Oct. 27, 2024. (AP Photo/Zurab Tsertsvadze)

In this photo released by Administration of the President of Georgia, Georgian President Salome Zourabichvili speaks during her interview with the Associated Press after the parliamentary election in Tbilisi, Georgia, on Monday, Oct. 28, 2024. (Administration of the President of Georgia via AP)

In this photo released by Administration of the President of Georgia, Georgian President Salome Zourabichvili speaks during her interview with the Associated Press after the parliamentary election in Tbilisi, Georgia, on Monday, Oct. 28, 2024. (Administration of the President of Georgia via AP)

A supporter of the Coalition for Change reacts at coalition's headquarters after polls closing at the parliamentary election in Tbilisi, Georgia, Saturday, Oct. 26, 2024. (AP Photo/Zurab Tsertsvadze)

Members of an election commission count ballots at a polling station after the parliamentary election in Tbilisi, Georgia, Saturday, Oct. 26, 2024. (AP Photo/Kostya Manenkov)

FILE - Billionaire Bidzina Ivanishvili, leader of the created by him the Georgian Dream party greets demonstrators during a rally in Tbilisi, Georgia, on April 29, 2024. (AP Photo/Shakh Aivazov, File)

In this photo taken from video released by Georgian Dream Party on Sunday, Oct. 27, 2024, Georgian Prime Minister Irakli Kobakhidze addresses after the parliamentary election in Tbilisi, Georgia. (Georgian Dream Party via AP)

Nana Malashkhia, who leads the Coalition for Change parliament list, center, speaks to the media at coalition's headquarters after the parliamentary election in Tbilisi, Georgia, Sunday, Oct. 27, 2024. (AP Photo/Zurab Tsertsvadze)

Nika Gvaramia, leader of Coalition for Changes, center, speaks to the media at coalition's headquarters after the parliamentary election in Tbilisi, Georgia, Sunday, Oct. 27, 2024. (AP Photo/Zurab Tsertsvadze)

In this photo taken from video, Georgian President Salome Zourabichvili, center, surrounded by opposition leaders speaks to the media after the parliamentary election in Tbilisi, Georgia, on Sunday, Oct. 27, 2024. (AP Photo/Kostya Manenkov)

In this photo taken from video, Georgian President Salome Zourabichvili, left, speaks to the media as speaks to the media as and Nana Malashkhia, who leads the Coalition for Change parliament list, right, stands near, after the parliamentary election in Tbilisi, Georgia, on Sunday, Oct. 27, 2024. (AP Photo/Kostya Manenkov)

NEW YORK (AP) — U.S. stocks are approaching records Monday ahead of a big week for profit reports from Big Tech stocks. Oil prices, meanwhile, are tumbling toward their worst loss in more than a year.

The S&P 500 was 0.4% higher in midday trading. The main measure of the U.S. stock market is coming off its first losing week in the last seven, but it’s still near its all-time high set earlier this month.

The Dow Jones Industrial Average was up 299 points, or 0.7%, as of 11 a.m. Eastern time, while the Nasdaq composite was 0.7% higher and flirting with its own record set in July.

Several Big Tech stocks helped lead the way, and five of the behemoths known as the “Magnificent Seven” are on this week’s schedule to report their latest profits. These high-flying stocks have been at the forefront of Wall Street for years and have grown so big that their movements can singlehandedly shift the S&P 500.

After suffering a summertime swoon on worries that their stock prices had risen too quickly when compared with their profits, Alphabet, Meta Platforms, Microsoft, Apple and Amazon are under pressure to deliver more big growth.

Another member of the Magnificent Seven, Tesla, soared to one of the best days in its history last week after reporting a better profit than analysts expected.

Monday’s gains for Big Tech helped offset drops for stocks in the oil-and-gas industry, which were hurt by the sinking price of oil. Exxon Mobil’s 0.9% drop and ConocoPhillips’ slide of 1.3% were two of the heaviest weights on the S&P 500.

A barrel of benchmark U.S. crude fell 5.2%, and Brent crude, the international standard, slid 5.3%. It was the first trading for them since Israel attacked Iranian military targets on Saturday, in retaliation for an earlier barrage of ballistic missiles. Israel’s attack was more restrained than some investors had feared it could be, and it raised hopes that a worst-case scenario may be avoided.

Beyond the violence that is taking a human toll, the worry in financial markets is that an escalating war in the Middle East could cut off the flow of crude from Iran, which is a major oil producer. Such worries had sent the price of Brent crude up to nearly $81 per barrel in early October, despite signals that plenty of oil is available for the global economy. It’s since fallen back below $72.

Financial markets are also dealing with the volatility that typically surrounds a U.S. presidential election, with Election Day fast approaching in two Tuesdays. Markets have historically been shaky heading into an election, only to calm afterward regardless of which party wins.

The trend affects both the stock and the bond markets. In the bond market, Treasury yields were ticking higher to tack more gains onto their sharp rise for the month so far.

The yield on the 10-year Treasury rose to 4.26% from 4.24% late Friday. That's well above the roughly 3.70% level where it was near the start of October.

Yields have climbed as report after report has shown the U.S. economy remains stronger than expected. That’s good news for Wall Street, because it bolsters hopes the economy can escape from the worst inflation in generations without the painful recession that many had worried was inevitable.

But it’s also forcing traders to ratchet back forecasts for how deeply the Federal Reserve will cut interest rates, now that it’s just as focused on keeping the economy humming as getting inflation lower. With bets diminishing on how much the Fed will ultimately cut rates, Treasury yields have also been given back some of their earlier declines.

That means the U.S. jobs report on the schedule for Friday could end up being the market's main event, even bigger than the Big Tech profit reports. Investors want to see more evidence of solid hiring to keep alive the perfect-landing hopes for the economy.

Such data has supplanted inflation reports, which used to be the most important for Wall Street every month but have waned as inflation seems to be heading toward the Fed's target of 2%.

Yields have also climbed as investors have seen former President Donald Trump's chances of re-election improving. Economists say a Trump win could help push inflation higher in the long term, and worsening inflation could push the Fed to hike interest rates.

Trump Media & Technology Group, the company that tends to move more with Trump's re-election odds than on its own profit prospects, jumped 16% Monday to $45.17. The parent company of Trump's Truth Social platform has been rallying since hitting a bottom of roughly $12 in late September, though it's still well below its perch above $60 reached in March.

Robinhood Markets rose 2.8% after it said it would begin allowing some of its customers to trade contracts based on whether they think either Trump or Vice President Kamala Harris will win the 2024 election.

Delta Air Lines was another winner and rose 4.2% after suing CrowdStrike, claiming the cybersecurity company had cut corners and caused a worldwide technology outage that led to thousands of canceled flight in July.

In stock markets abroad, Japan’s Nikkei 225 rose 1.8% as the value of the Japanese yen sank after Japanese Prime Minister Shigeru Ishiba’ s ruling coalition lost a majority in the 465-seat lower house in a key parliamentary election Sunday.

Stock indexes were mostly higher across much of the rest of Asia and in Europe.

AP Business Writers Yuri Kageyama and Matt Ott contributed.

FILE - The New York Stock Exchange is shown on Sept. 18, 2024, in New York. (AP Photo/Peter Morgan)

Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, Oct. 28, 2024. (AP Photo/Ahn Young-joon)

Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, Oct. 28, 2024. (AP Photo/Ahn Young-joon)

A currency trader works near a screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, Oct. 28, 2024. (AP Photo/Ahn Young-joon)