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5 Things You Need To Know, Today, on Tuesday 8th March 2022
5. The World Bank has approved $723m (£551m) in loans and grants for Ukraine, as the country fights against a Russian invasion.
The bank said it is continuing to work on another $3bn package of support in the coming months for the country.
4. War in Ukraine will push up energy prices and see UK families squeezed even further, a think tank has warned.
The Resolution Foundation forecasts that a typical household's income will fall by about £1,000 this year once the effect of inflation is accounted for, the biggest real-terms fall in incomes since the mid-1970s
3. Pressure is growing on Western food and drink giants to pull out of Russia due to the invasion of Ukraine.
McDonald's and Coca-Cola have been criticised on social media for failing to speak out about the attacks and continuing to operate in the country.
2. The head of the World Food Programme, David Beasley, has warned the conflict in Ukraine could send global food prices soaring, with a catastrophic impact on the world's poorest.
Ukraine and Russia are both major exporters of basic foodstuffs, and the war has already hit crop production, driving up prices.
1. Russia has said it may close its main gas pipeline to Germany if the West goes ahead with a ban on Russian oil.
Deputy Prime Minister Alexander Novak said a "rejection of Russian oil would lead to catastrophic consequences for the global market", causing prices to more than double to $300 a barrel.