The World in Brief from The Economist

In a joint statement, G7 countries, including America, offered “unwavering support” to Ukraine, and threatened Russia with more sanctions if “a ceasefire is not agreed”

Gold prices surged past $3,000 per troy ounce for the first time, driven by fears that Mr Trump’s tariffs will slow global growth

Russia and Ukraine exchanged drone strikes overnight as discussions over a ceasefire proposal continued. Britain’s economy unexpectedly shrank by 0.1% month on month in January.

Vladimir Putin said that Russia agrees with the “idea” of ending the war in Ukraine but suggested that negotiations should “remove underlying causes” of the conflict.

American officials arrived in Russia to discuss a proposal to end the war in Ukraine. Also, Donald Trump said he would “of course” respond to the European Union’s decision to introduce $28 billion in tariffs on American imports.

America’s annual inflation rate fell to 2.8% in February, below forecasts of 2.9%.

America’s annual inflation rate fell to 2.8% in February, below forecasts of 2.9%.

Ukraine agreed in principle to an American proposal for an “immediate” 30-day ceasefire with Russia following talks in Saudi Arabia. Also, America’s global tariffs of 25% on steel and aluminium took effect.