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5 Things You Need To Know, Today, on Monday 7th March 2022
5. Video-sharing site TikTok and streaming giant Netflix have limited and cut their services respectively in Russia following its invasion of Ukraine.
TikTok said it had suspended live streaming and new content from its platform as it assesses tough new laws to crack down on "fake news" about Russia's armed forces.
4. Shell has defended its decision to purchase Russian crude oil despite the invasion and bombardment of Ukraine.
The oil giant said in a statement that the decision to purchase the fuel at a discounted price was "difficult".
3. Visa, Mastercard and American Express have announced they will suspend all operations in Russia.
But Russia's major banks have already downplayed the impact the move will have on consumers.
2. The boss of one of the world's biggest fertiliser companies has said the war in Ukraine will deliver a shock to the global supply and cost of food.
Yara International, which operates in more than 60 countries, buys considerable amounts of essential raw materials from Russia.
1. Oil prices have soared to the highest level since 2008 after the US said it was discussing a potential embargo on Russian supplies with its allies.
Brent crude - the global oil benchmark - spiked to above $139 a barrel, before easing back to below $130.