Good morning.
Russian energy imports are back in focus this morning after France called on other European nations to support fresh sanctions.
Bruno Le Maire, France’s finance minister, said it was necessary “more than ever” to implement a ban on Russian oil, cutting off a key source of revenue for the Kremlin.
While the US and UK have already announced plans to phase out Russian oil, the EU has been more reluctant to move. The continent is heavily reliant on Russia’s energy, and largest economy Germany has resisted further sanctions.
It comes as the war moves into its second phase. Ukrainian President Volodymyr Zelensky warned Russia had its assault on the eastern Donbas region.
5 things to start your day
1) Safety fears leave P&O Ferries facing ‘sky high’ insurance bill. The company’s safety performance is expected to be deemed “very low”, according to analysis of an official international database of inspections.
2) Rolls-Royce backs the ‘new Hawk’ fighter jet trainer. British-designed Aeralis aims to have a demonstrator ready by 2025.
