POLITICO: U.S. Trade Representative Greer said trade negotiations with Germany face challenges.

Bank of England Governor Bailey to speak in 10 minutes.

US threats to sanction countries that buy Russian oil may complicate ongoing US-India trade negotiations, people familiar with the matter said. Sources said India was surprised because purchases of Russian oil had been resolved in talks that produced a preliminary trade deal in February and the issue had not been raised in subsequent rounds. After the US Supreme Court overturned former President Trump’s so-called reciprocal-tariff policy, India has not signed the preliminary agreement. India is seeking more favourable terms than regional rivals before advancing the deal and is unlikely to publicly criticise the new US sanctions bill; sources expect New Delhi to continue engagement and treat current tensions as a transitional phase in bilateral relations.