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Photographer: Daniel Roland/AFP via Getty Images

Good morning. The toll of the war in Ukraine, UK energy taxes and prices in focus, Lagarde says crypto is “based on nothing,” and a call for Norway to share oil and gas profits. Here’s what markets are talking about.

The war in Ukraine and other conflicts pushed the number of people around the world forcibly displaced from their homes above 100 million for the first time, a United Nations agency said in a report. President Joe Biden meets Japan’s prime minister on a trip to Tokyo where he will seek the further cooperation from the US ally that has shown support for sanctions to punish Russia for its war on Ukraine. As many as 100 Ukrainian soldiers may be dying each day in severe fighting in the Donbas, currently the main focus of the Kremlin’s invasion, Ukrainian President Volodymyr Zelenskiy said.