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The British company Diageo, which produces alcoholic beverages under brands such as Smirnoff, Black Label, Johnnie Walker, Guinness, Baileys and Captain Morgan, will leave Russia, Kommersant writes, citing a company message.

The Central Bank (CB) of Hungary raised its key interest rate by a record 185 basis points to 7.75 percent – a sudden move by a European country to combat unprecedented price increases, Bloomberg reports. The change in the rate level was the largest since 2008, when Hungary was hit hard by the financial crisis, which left the country in recession for two years.

The US Treasury Department’s Office of Foreign Assets Control (OFAC) has banned gold imports from Russia. The press release is published on the agency’s website. The ban applies to all gold of Russian origin with immediate effect.

The head of the European Central Bank (ECB), Christine Lagarde, reassured Europeans about the future of the region’s economy, writes CNBC. The head of the regulator believes that the eurozone will be able to avoid a large-scale recession.