US Speaker of the House of Representatives Nancy Pelosi said in a letter that “The Biden Administration has asked $10 billion in humanitarian, military and economic support for Ukraine. The Congress plans to approve this emergency funding as a part of our omnibus government funding legislation.”

Nancy Pelosi also announced that the house is looking for a law to ban the purchase of Russian oil. “The House is exploring strong legislation that will further isolate Russia from the global economy. The bill will ban the import of Russian oil and energy products in the United States, cancel trade relations with Russia and Belarus, and ban Russia to access the World Trade Organization,” Pelosi added.

• Shares of Shriram Pistons skyrocketed 9% on Acquiring Antolin Lighting
• Stocks in Focus: Lloyds Engineering, SEAMEC, RailTel, and Others
• Overnight Stock Market Movements: Key Developments 
• Stocks Under F&O Ban: Bandhan Bank, and Others
• India, Canada Hold Talks to Resume Trade Pact Negotiations

Responding to the International Energy Agency’s Governing Board agreeing to release 60 million barrels of oil, Pelosi said, “We appreciate President Biden for releasing 60 million barrels of oil from emergency stockpiles, including 30 million from American reserves in the SPR to stabilise the global markets.”