US and France call for Sanctions escalated significantly Emmanuel Macron urged a ban on Russian oil and coal imports and Joe Biden proposed a war crimes trial after reports of atrocities by Russian troops in Ukraine.

Macron and Biden joined the Western condemnation on Monday after reports of civilian killings and mass graves in the city of Bukha, about 25 kilometers northwest of Kyiv, and other areas recently occupied by Russia.

“There are very clear signs of war crimes,” the French president said in an interview with RFI on Monday. “What happened in Boucha requires a new round of sanctions and very clear measures.”

“I think with oil and coal, we have to be able to move forward . . . we cannot accept that,” he added. But Macron did not call for a ban on Russian gas, an important fuel for Germany, Italy and Eastern European countries source.

In his first comments on the Butcha killing, Biden vowed to increase sanctions on Russia and called for a trial to assess possible war crimes committed by Vladimir Putin’s troops in Ukraine.

“This guy is brutal, and what happened to Boucha is outrageous,” Biden said of the Russian president on Monday.

Concerned about the conflict with the Financial Times visual guide A series of maps and infographics of the Russian invasion of Ukraine.

More about Ukraine:

• Butcha Survey: Ukrainian investigators have started the hard work Gather evidence Possible war crimes committed by Russian troops in Bukha. This forensic process was necessary to refute the Kremlin’s insistence that the atrocities were planned or carried out by Ukrainian forces.

• vitality: Berlin has Seized Gazprom Germaniaa subsidiary of the Russian group that operates some of Germany’s largest natural gas storage facilities.

• Oligarchs under fire: Alexei Mordashov made his fortune on steel and was interested in coal, gold, tourism and the media. But after being targeted by EU and UK sanctions, one of the richest men in russia is trying to keep his most precious asset.

• Super yachts: Spanish authorities A $90 million yacht seized At the request of the United States, belonging to the Russian oligarch Viktor Vekselberg.a ship Said to be owned by Roman Abramovich He left a Turkish terminal after the Financial Times reported that the port’s UK-listed operator was at risk of breaching sanctions.

• View: The Ukrainian war not only threatens Europe’s energy supplies, it also drives up commodity food prices. conflict, Recycled Meat Farmer Peter Gregg saysexposing the fragility of our food supply and the flaws in industrial food production.

Thank you for reading FirstFT Europe/Africa.Here’s the rest of the news today – George

Five more stories in the news

1. Pandemic windfall CEOs of Pfizer, BioNTech and Moderna enjoy over $100 million During the pandemic, reflecting the great success of the vaccine developed by their company. The paper fortunes of Pfizer’s Albert Bourla, BioNTech’s Ugur Sahin and Moderna’s Stéphane Bancel also rose on the back of investor enthusiasm.

• More on the coronavirus: British holidaymakers expect travel to be affected this spring and summer.British Airways and easyJet Dozens of flights cancelled On Monday, the number of infections, including Covid-19, rose due to staffing shortages.

2. Turkey’s inflation hits 20-year high Turkey Consumer Price Index A year-on-year increase of 61% In March, the proportion was up from 54 percent in February and reached the highest level since March 2002, as soaring energy and food prices compounded the economic challenges facing Recep Tayyip Erdogan.

3. Bring the battery replacement to Europe Chinese EV startup NIO is working with several other automakers Licensing its battery swap technology One of the company’s most senior executives said it was about winning over European drivers.

• Related Reading: In 2019, a Chinese AutoX car snaked its way through the roads of Las Vegas.Those watching may not know that its brakes, steering wheel, accelerator and red safety buttons have Intentionally disabled.

4. Convergence breakthrough of UK companies Oxford-based startup First Light Fusion owns successfully bind the nucleus UK regulators describe it as a major step forward in harnessing solar power for decades.

5. Schultz stops Starbucks buybacks Howard Schultz promises to suspend Starbucks stock repurchase program He began his third term as CEO of the American coffee chain. The decision comes as Starbucks faces a growing union movement in its domestic market, rising wages and commodity costs and a potential threat to international growth.

the day ahead

PMI data IHS Markit post Services and Composite (Manufacturing and Services) PMIs for Eurozone, France, Germany, Italy, UK and US. South Korea releases March inflation data.Keep up to date with our latest information Global Inflation Tracker.

Nokia Annual General Meeting The Finnish telecommunications company holds Annual Meeting today.

Reserve Bank of Australia monetary policy meeting The Reserve Bank of Australia will announce its rate decision at its monthly meeting today as it still faces tighten monetary policy. (Bloomberg)

Japan bans luxury goods exports to Russia Japan will start enforce the ban Exports high-end cars and other luxury goods to Russia. (Reuters)

what are we still reading

France’s election wake-up call The warnings from the French establishment are getting louder: politicians and pundits from ex-Prime Minister Manuel Valls to President Emmanuel Macron himself sound the alarm Voters can push far-right candidate Marine Le Pen in Elections this month.

An embarrassing failure for the nickel market You might think “light touch” regulation disappears with the financial crisis, Helen Thomas writes. But the announcement of a review of the suspension of the LME nickel market smelled of being late to the party you were supposed to be organizing.

Globalization will continue Inflation is sure to last longer now due to military conflict and supply chain disruptions, Princeton professor Harold James argues. But that may not be enough to end globalization. Look at the decisive turning points in the past: they were inflationary, but they pushed the world to be more, not less, globalized.

Blockchain powered broker Sam Bankman-Fried looks more like a student getting out of bed than the owner of a $32 billion international cryptocurrency exchange.But the 30-year-old FTX CEO future financial vision Distributed ledger technology underpinning cryptocurrencies based on a new protocol built on the blockchain.

Memories of Taipan For those interested in the inner workings of Hong Kong companies, and a somber reminder of how much the Hong Kong territory and Sino-US business relations have changed in recent years, autobiography The writings of former Jardine Matheson and Hutchison Whampoa executive Simon Murray are fascinating.

books

Search best business book of the year started. Now in its 18th year, previous recipients include Sarah Frier’s no filter On Instagram and the Rise of John Carreyrou bad bloodwhose reporting exposed the Theranos scandal.