The European Union is considering cutting more than 20 banks from SWIFT, the international payments system, as well as lowering a price cap on Russian oil and banning the Nord Stream gas pipelines as part of a new sanctions package that aims to increase pressure on Moscow to end its war against Ukraine.

Ukraine's air force said that Russia had fired 14 ballistic missiles at targets across Ukraine overnight and launched 250 long-range drones, with Kyiv the main target. The strikes followed several days of Ukrainian drone strikes - some 800 attacks - on targets inside Russia, including the capital Moscow.