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While there are tentative signs of de-escalation in the Russian-Ukrainian war, tensions between Moscow and the West show no signs of letting up.
A Putin ally has proposed that Moscow extend its demands for ruble payments from the West to commodities, including oil, metals and fertilizers.
It comes after Putin ordered so-called “unfriendly” countries to pay for gas imports in local currency – a move the G7 strongly rejected.
The Kremlin is fighting to prop up the ruble after a wave of Western sanctions sent Russian markets crashing.
5 things to start your day
1) P&O Ferries accuses MPs of intervening in reviews He said the Maritime and Coastguard Agency had applied an “unprecedented level of rigor” to the inspection of its vessels following “interventions by ministers and MPs”.
2) Dyson unveils air-purifying headphones Wearing a face mask in public has gone from a peculiar sight to an everyday occurrence over the past two years, but people still might not be ready for Dyson’s latest invention.
3) Mexico’s drug wars drive up avocado prices Avocado prices hit their highest level in more than two decades after the fruit was caught up in escalating violence between drug cartels in Mexico.
4) Conservative hearts speak out against solar panel land grab fears As Britain forges ahead with plans to go green amid a biting energy crisis, ministers are tackling the Nimbys.
5) 70,000 civil servants from Public spending has reached a “high point”, with a Treasury minister promising to drastically reduce the number of civil servants.
What happened overnight
Strong gains on Wall Street and Europe were more than offset in Asia, with Hong Kong, Shanghai, Sydney, Seoul, Singapore, Taipei, Manila, Jakarta and Wellington all performing well. Tokyo bucked the trend by falling.
coming today
Annual results: Key words
Economy: Consumer confidence, business climate (EU); inflation (All); GDP, ADP employment change, personal consumption expenditure (US)