The euro briefly sank below parity versus the Swiss franc for the first time in seven years on Monday and held at a 22-month low versus the dollar as soaring oil prices stoked fears of a stagflationary shock that could hammer Europe.

Japan, which counts Russia as its fifth-biggest supplier of crude oil, is in discussion with the United States and European countries about possibly banning Russian oil imports, Kyodo News reported on Monday.

The European Central Bank's plans to dial back stimulus have been upended by Russia's invasion of Ukraine.

BEIJING (Reuters) -China's export growth slowed in the January-February period due to the week-long Lunar New Year holiday and though the data beat expectations, Russia's invasion of Ukraine has heightened uncertainty over the outlook for global trade this year.

The Indian rupee fell to a historic low on Monday, while bond yields surged as a sharp rise in global prices of crude oil stirred concern about domestic inflation, strengthening prospects for interest rate hikes by the central bank.

U.S. shale oil and gas producers Oasis Petroleum Inc and Whiting Petroleum Corp are close to agreeing an all-stock merger that could be announced as soon as this week, a source familiar with the matter said on Sunday.