EU faces crunch point over Russia’s gas payment demands

As deadline loom, Brussels commissioner says handing over roubles would breach sanctions

How EU energy firms plan to pay for Russian gas without breaking the law

Germany, Hungary and others are devising ways they can use roubles to pay Gazprom and not be in breach of sanctions

World Bank says biggest commodity shock since 1970s raises spectre of stagflation

FTSE 100 drops by 141 points to 7380.5, its lowest close in more than five weeks

If Russia’s invasion of Ukraine is hurting developed countries, it’s proving a hammer blow for the poor

Immediate embargo would cost €180bn but economy may not shrink as much as first year of Covid

Narendra Modi hails ‘good progress’ as Boris Johnson signals he is willing to make concessions on immigration

KitKat and Nescafé owner blames surge in cost of ingredients, energy, labour and transport

Elvira Nabiullina lawsuits aim to release gold and foreign currency frozen amid sanctions over Ukraine invasion

Economic gains made after recovery from Covid pandemic could be erased, says expert

Analysis: Fund’s world economic outlook highlights need to protect people such as refugees

President ‘deeply concerned about developing countries’ amid Russia’s war in Ukraine, Covid and inflation

Erdoğan’s quixotic policies are putting pressure on prices, but now fallout from Ukraine is pushing the country towards crisis

Inflation shock caused by the invasion and ongoing pandemic is ‘a crisis on top of a crisis’ says IMF chief

WTO and World Bank among those saying richer countries must step in to alleviate effects of rising prices and shortages