UK PM Johnson: We cannot simply close down us of oil and gas overnight, even from Russia

UK PM Johnson says:

• I am announcing a 175M pound aid to Ukraine
• We cannot simply close down use of oil and gas overnight, even from Russia
• We need to move in the same direction and accelerate that move
• We will need to look for substitute supply from elsewhere
• Putin is doubling down in Ukraine. Clear we're going to have to do more
• There will be impacts on UK consumers from UK sanction on Russia.
• We are looking at the possibility of using more of our own hydrocarbons
• Will set out an energy supply strategy for the country in days ahead

The Dutch PM Rutte is saying the same thing:

• It will take time to reduce dependency on Russian gas and oil

The GBPUSD is moving to a new session low and looks to test the low of the swing area near 1.3133 (see post here).

/GBPUSD GBP/USD The GBP/USD is the currency pair encompassing the United Kingdom’s currency, the British pound sterling (symbol £, code GBP), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one British pound. For example, when the GBP/USD is trading at 1.5000, it means 1 pound is equivalent to 1.5 dollars. The GBP/USD is the fourth most traded currency pair on the forex exchange market, giving it ample liquidity a The GBP/USD is the currency pair encompassing the United Kingdom’s currency, the British pound sterling (symbol £, code GBP), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one British pound. For example, when the GBP/USD is trading at 1.5000, it means 1 pound is equivalent to 1.5 dollars. The GBP/USD is the fourth most traded currency pair on the forex exchange market, giving it ample liquidity a Read this Term