Russia Implements Energy Export Ban, Bank of England Holds Rates

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This chapter explores the impact of Russia's energy export ban on the oil market, causing a rise in crude prices and diesel prices in Europe. It also discusses the Bank of England meeting, where rates were held steady due to recent UK inflation data.

Rupert Murdoch is stepping down as chair of Fox and News Corp, Russia has barred the export of diesel and petrol, and the Bank of England has held interest rates at 5.25 per cent after a knife-edge vote. Plus, India has stopped issuing visas to Canadians and told Ottawa to reduce its diplomatic presence in the country.

Mentioned in this podcast:

Rupert Murdoch steps down as chair of Fox and News Corp

Russia puts squeeze on oil market with diesel export ban

Bank of England holds interest rates at 5.25%

India stops issuing visas to Canadians as row escalates

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Monique Mulima, Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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