Reliance Industries’ Jamnagar refinery in Gujarat received 27% of its oil from Russia in May, up from 5% in April, according to a report by the Guardian.

Russia has struggled to make payments on $40 billion of outstanding bonds since its invasion of Ukraine, as sanctions have effectively cut the country off from the global financial system

US President Joe Biden and leaders of other G7 nations relaunch newly renamed 'Partnership for Global Infrastructure and Investment'

China and India have been stocking up on Russian oil, but their actions have undermined efforts by the US and Europe to impose sanctions that limit funds to the Kremlin while it wages war in Ukraine

Bank for International Settlements advised that interest rates should be raised "quickly and decisively" to prevent the surge in global inflation turning into a bigger crisis.

China has agreed with the Bank of International Settlements to set up a liquidity arrangement for renminbi/yuan to support to other central banks at times of market fluctuation.

Britain, the United States, Japan and Canada announced a ban on imports of Russian gold, sales of which totalled $15bn last year, at the start of the G7 three-day summit on Sunday

NATO is expected to "harden its stance towards China over its position on Russia's war in Ukraine", a report by the South China Morning Post says

Copper is heading for its steepest weekly drop since March 2020, while tin is on track for a weekly percentage fall of nearly 22%, its biggest on record

Moody's placed its ratings on review for further downgrades, saying Thursday's move "reflects Coinbase’s substantially weaker revenue and cashflow generation"

A poll of analysts earlier this month found there is a 40% chance of a US recession over the next two years, with a 25% chance of that happening in the coming year.

Putin said Russia was discussing increasing the presence of Chinese cars on the Russian market as well as the opening of Indian supermarket Chains.