EU leaders are expected to agree at a two-day summit starting on Thursday to jointly buy gas, as they seek to cut reliance on Russian fuels and build a buffer against supply shocks, but the bloc remains unlikely to sanction Russian oil and gas.

Credit Suisse Group said on Wednesday that a court in Bermuda was poised to rule against a local life insurance subsidiary of the Swiss bank that could potentially total more than $500 million.

Fitch will withdraw ratings on all Russian entities and their subsidiaries in order to comply with European Union sanctions, the ratings agency said on Wednesday, as Western nations tighten their grip around Moscow's economy.

ABOARD AIR FORCE ONE (Reuters) -The Biden administration, seeking to deter China from aiding sanctions-hit Russia, on Wednesday warned Beijing not to take advantage of business opportunities created by sanctions, help Moscow evade export controls or process its banned financial transactions.

U.S. investment firm KKR is keeping its request to access Telecom Italia's data for a due diligence analysis before it can formalise its takeover bid, a person close to the matter said.

PARIS (Reuters) -Renault on Wednesday said it would suspend operations at its plant in Moscow while it assesses options on its majority stake in Avtovaz, the country's number one carmaker.