US officials have demanded Venezuela supply at least a portion of oil exports to the United States as part of any agreement to ease oil trading sanctions on the OPEC member nation, two people close to the matter said.

US President Joe Biden announced a ban on Russian oil and other energy imports on Tuesday in retaliation for the invasion of Ukraine, underscoring strong bipartisan support for a move that he acknowledged would drive up US energy prices.

The World Bank on Monday approved an additional $489-million package in support for Ukraine, to be made available immediately and dubbed  “Financing of Recovery from Economic Emergency in Ukraine.”

A Western ban on Russian oil imports may more than double the price to $300 a barrel and prompt the closure of the main gas pipeline to Germany, Moscow warned on Monday, as talks on Ukraine hardly advanced amid efforts to agree on civilian safe passage.

An enabling environment for women entrepreneurs in cottage, micro, small and medium enterprises (CMSMEs) is essential for ensuring sustainable progress in Bangladesh’s economic development, according to various experts.

The possibility that the United States might ban Russian oil imports has triggered a surge in Brent crude to almost $140 a barrel, its highest level since 2008.

US President Joe Biden is expected to announce a ban on US imports of Russian oil and gas Tuesday, in a further tightening of unprecedented economic sanctions punishing Moscow over its invasion of Ukraine.

Black market fears, problems with online payments and the looming spectre of inflation -- Russian officials are scrambling to deal with the effects of sanctions imposed on Russia over its military intervention in Ukraine.

Incoming orders to German industry increased again in January, official figures published Monday showed, as the government warned of economic disruption from the war in Ukraine.

Gold climbed to its highest in one-and-half years on Monday and palladium hit an all-time high on safe-haven asset appeal, while nickel soared over 20 per cent on fears of supply disruptions tied to sanctions on Russia and continued fighting in Ukraine.

Uniqlo owner Fast Retailing will keep its stores in Russia open, joining a small group of international firms that have stayed put even as dozens of big brands pause operations or exit the country over its invasion of Ukraine.

Chinese exports in January and February rose a combined 16.3 per cent on surging global demand and a spike in trade with Russia in the run-up to the war in Ukraine, according to customs data released on Monday.

Chicago wheat futures rose by more than 6 per cent on Monday to 14-year highs on concern global supplies will be disrupted until the Russia-Ukraine conflict is resolved.

Russia’s rouble tumbled to a fresh record low in thin offshore trade on Monday, with local markets closed for trading until at least Wednesday.

Oil prices spiked to their highest levels since 2008 yesterday amid  market supply fears as the United States and European allies considered  banning Russian oil imports and prospects for a swift return of Iranian  crude to global markets receded.

Persistent and significant gaps in care services and policies have left hundreds of millions of workers with family responsibilities without adequate protection and support, yet meeting these needs could create almost 300 million jobs by 2035.

Western allies’ sanctions against Russia have started to blow back in the form of large potential losses for their own banks, companies and investors, often in unexpected ways. In the past, such fires have been precursors to financial crises.

Oil prices soared and shares sank in frantic trading on Monday as the risk of a US and European ban on imports from Russia and delays in Iran's renewed nuclear talks boosted commodities and threatened a stagflationary shock for world markets.

Oil prices soared to their highest since 2008 due to delays in the potential return of Iranian crude to global markets and as the United States and European allies consider banning imports of Russian oil.

Russia and Ukraine-bound exports, especially garments, are now faced with an uncertain future as shipping lines are understandably not too eager to carry goods to war zones.