Russian bond default ‘imminent’, as inflation jumps; markets surge as oil falls back – as it happened
by Graeme Wearden from on (#5WXDC)
Rolling coverage of the latest economic and financial news
- Latest: Russia's inflation rate soars 2.2% in a week
- US and European markets have rallied strongly, after recent heavy losses
- Fitch: a sovereign default is imminent
- UK launches new aviation sanctions
- KFC and Pizza Hut owner, Heineken, Mothercare pause business in Russia
Gas prices have eased back from their record levels earlier this week, but remain exceptionally high.
The UK wholesale gas contract for delivery next month has dropped 17% this morning, to 421p per therm.
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