Oil and other commodities prices soared while global shares tanked on Monday as the United States said it was willing to ban Russian oil imports, stoking investor fears over inflation and slowing economic growth.

NEW YORK (Reuters) -The U.S. dollar rose on Monday, lifted by safe-haven flows, as investors weighed the effects on global economic growth of oil prices that hit 14-year highs after the United States and European allies considered banning Russian crude imports.

NEW YORK (Reuters) -Procter & Gamble Co is ending all new capital investments in Russia and "significantly reducing" its portfolio to focus on basic hygiene, health and personal care items, CEO Jon Moeller said in a letter to employees posted on its website on Monday.

Oil, metal and other commodities prices soared while global shares sank on Monday as the United States said it is willing to ban Russian oil imports, adding to inflationary pressures on economies worldwide.

LONDON/NEW YORK (Reuters) -Global financial stocks tumbled on Monday on mounting investor fears about the potential for economic damage and pressure on consumer spending as the price of oil soars following Russia's invasion of Ukraine.

WASHINGTON (Reuters) -U.S. congressional negotiators on Monday were nearing a deal on a bill to provide Ukraine with billions of dollars in emergency aid, as well as fund the U.S. government through Sept. 30 and provide more money to address COVID-19, sources said.