The U.S. moves to ban Russian investment and crack down on the country’s banks and state firms. Across the Atlantic, the EU launches a fifth round of sanctions aimed at coal exports and shipping. Ukrainian President Volodomyr Zelenskyy calls on the UN Security Council to launch Nuremburg-style trials to punish alleged Russian war crimes in his country. Meanwhile, U.S. and Asian markets take a dip, after Fed vice-chair nominee Lael Brainard indicates the central bank may seek more aggressive monetary policy tightening to combat inflation. And in China, the services sector has shrunk at its fastest rate in two years amid ongoing Covid lockdowns.

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