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).