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The shortfall in the balance of trade with the bloc has reached nearly $40 billion, official statistics show The UK’s trade deficit with the EU reached a new high in the final quarter of 2022 on increasing imports from the bloc, data from the Office for National Statistics (ONS) showed on Friday.

Russia will voluntarily reduce oil production in March by 500,000 barrels per day as it halts sales to buyers complying with a Western-imposed price cap, Russian Deputy Prime Minister Aleksandr Novak announced on Friday.