We started off the programme by asking the independent banking analyst Frances Coppola how in practical the newly announced EU sanctions work. Then we moved on to the Russian economy and asked Kallum Pickering, a global economist for Berenberg bank here in London how it would be affected by these sanctions.

Next, our Markets Report guest Michael Hughes, an independent economist, told us that that the cost of agricultural goods was going to be something to watch when markets re-open in the coming hours.

We then have a look at the British multinational energy giant BP. It announced Sunday afternoon it was to quit its 20 per cent stake in the Russian state oil firm Rosneft, with its chief exec Bernard Looney quitting the Rosneft board too. Our correspondent Katie Prescott told us more.

Moving on from energy, we look at how during an emergency parliamentary session on Ukraine on Sunday, Chancellor Scholz announced an additional $113bn for the German army. He also announced pivots on energy policy, and laws about the export of German made arms - in what he called a turning point brought about by the war in Ukraine. Dr Liana Fix is a Resident Fellow at the German Marshall Fund in Washington DC and told us more about the move.

Our programme ends with our correspondent, Lucy Williamson on a report from Moldova looking at the influx of Ukrainian refugee's into the country.

Presenter: Will Bain

Producer: Will Bain and Gabriele Shaw

(PHOTO CREDIT: GETTY)