Ukraine confirms that Russian troops have entered the steel works plant after launching "an all-out assault". (BBC News)
Finland says that a Russian Air ForceMi-17 violated its airspace this morning, flying "four to five kilometres" inside Finnish airspace. The incursion comes ahead of an expected Finnish application to joinNATO. (RTÉ)
The European Union proposes to ban all oil imports from Russia by the end of the year, and also remove Russia's biggest bank, Sberbank, from SWIFT. (CNN)
The United StatesFederal Reserve announces that it is raising interest rates by 0.5%, which is the largest interest rate hike since 2000, in order to combat growing inflation. (CNN)