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5 Things You Need To Know, Today, on Friday 4th March 2022
5. The US has announced fresh sanctions on Russian oligarchs - the latest attempt to squeeze President Vladimir Putin as his invasion of Ukraine continues.
The new penalties will target members of the Russian elite, their families and close associates, cutting them off from the US financial system.
4. Ukraine's government has said it will issue non-fungible tokens (NFTs) to fund its military as they defend the country against the Russian invasion.
The announcement by deputy prime minister Mykhailo Fedorov comes in the same week the country raised more than £200m from the sale of war bonds.
3. The UK has announced sanctions on two more Russian oligarchs - Alisher Usmanov and Igor Shuvalov.
Mr Usmanov's company USM previously had sponsorship ties with Arsenal and Everton and Mr Shuvalov was formerly Vladimir Putin's deputy prime minister and is currently chairman of the management board of a Russian bank.
2. Share prices have fallen in Asia after a fire broke out at the Zaporizhzhia nuclear power station in Ukraine, the largest in Europe after Russian troops shelled the plant.
Japan's benchmark Nikkei index was 2.5% lower and the Hang Seng in Hong Kong was down by 2.6%.
1. The president of the World Bank has said that the war in Ukraine is a catastrophe for the world which will cut global economic growth.
Mr Malpass points out that both Russia and Ukraine are big food producers, between them they account for 60% of global sunflower oil production and 28.9% of global wheat exports meaning theses price will rise and have "a very real consideration and problem for people in poor countries".