Ukrainian President Volodymyr Zelensky has welcomed the latest wave of sanctions imposed on Russia, while also describing them as insufficient.

In his latest video address, Zelensky calls on the west to go further and boycott the use of Russian oil.

He says the failure to agree on an embargo is costing lives of Ukranian people.

Russia is the third biggest producer of oil in the world, with more than half of its exports going to Europe.

Russian imports account for 8% of total UK oil demand and 3% in the US.

Zelensky says the Kremlin is earning so much from oil exports that it doesn't feel the need to take peace negotiations seriously.

He adds he will continue to insist that Russian banks should be entirely cutt off from the international financial system.

Read more about the new sanctions here.

BBC