The head of the Federation of German Industries has advised against an embargo on Russian gas The backbone of the German economy – its industry – would “collapse” should Berlin decide to impose an embargo on Russian gas, the president of the country’s industry association has warned.

Moscow accused the organization’s monitoring mission of a “selective approach to facts” The Russian Foreign Ministry has called on the Organization for Security and Co-operation in Europe (OSCE) Secretariat “to immediately launch measures for winding down” its Special Monitoring Mission (SMM) in Ukraine.

Consumer prices in the 19 countries that use the euro currency rose by an annual rate of 7.5% in March, according to data released on Friday by the European Union statistics agency. Spiking energy costs are the main factor driving inflation higher, Eurostat said.