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5 Things You Need To Know, Today, on Monday 27th June 2022
5. The UK, US, Canada and Japan will ban imports of Russian gold in an effort to hit Moscow's ability to fund the war in Ukraine.
The UK PM said the move would "strike at the heart of Putin's war machine".
4. Boris Johnson has said it was reasonable to consider ways of protecting British steelmakers against surging energy costs which are less of a problem for their competitors from other countries.
"We have a system in the UK where we don't privilege our industry in the way that some other countries do," Johnson told broadcasters as he arrived in Germany for a meeting with the G7.
3. The government will press ahead today with legislation to scrap rules on post-Brexit trade with Northern Ireland, setting up further clashes with the European Union.
The legislation, which would unilaterally replace parts of the post-Brexit deal that was agreed in 2020 by Britain and the EU, is due to be sent back to parliament's lower house for a so-called second reading.
2. Russia has defaulted on its overseas debt for the first time in more than a century after missing a Sunday deadline, reports suggest.
Russia has the money to make a $100m payment and is willing to pay, but sanctions made it impossible to get the sum to international creditors.
1. G7 leaders have detailed plans to mobilise $600bn in funding for the developing world in a move seen as a counter to China's Belt and Road plan.
The Partnership for Global Infrastructure and Investment (PGII) relaunches a scheme unveiled at last year's G7 talks in England.