LIVE: Bloomberg Quicktake Latest News for March 7

(Mar. 7) Ukrainian and Russian officials will meet again for a third round of talks. But with Russian leader Vladimir Putin saying Kyiv must to agree to his demands if fighting is to end, hopes for progress in the meeting later on Monday are low.

The U.S. House is exploring a bill that would ban the import of Russian oil and energy products, a move that would add to economic pressure as more companies pull out of the country. Oil soared to just shy of $140 a barrel after the White House said it was considering an embargo on Russian supplies. European energy prices climbed to records with benchmark gas increasing 79% to 345 euros a megawatt-hour. Monday’s gas price surge is likely to lead to large margins calls, forcing companies to post more cash as collateral with exchanges to back their trades.

Chinese Foreign Minister Wang Yi on Monday defended his country’s ties with Russia, saying the discord was “sown by third parties.”

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