Oil prices: China is the ‘key variable to watch,’ says strategist
Russian rouble drops a further 8% this week in Moscow
The rouble has lost a third of its value in Moscow exchanges since Russia invaded Ukraine last month, as the local economy buckles under the pressure of sanctions imposed across the world in retaliation for the invasion. President Volodymyr Zelenskiy said Ukraine had reached a “strategic turning point” in the conflict with Russia, but Russian forces bombarded cities across the country in what Moscow refers to as a “special operation,” and appeared to be regrouping for a possible assault on the capital Kyiv. On Friday, U.S. President Joe Biden joined allies to hit Moscow on trade and shut down development funds, and announcing a ban on imports of Russian seafood, vodka and diamonds.