The U.S. Department of Justice has asked Credit Suisse to pay between $5 billion and $7 billion to settle a probe over its sale of toxic mortgage securities in the run-up to the 2008 financial crisis, but the bank has resisted settling for that amount. Source: Reuters
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Iraq backed a proposal from Saudi Arabia and Russia to extend output cuts for nine months, removing one of the last remaining obstacles to an agreement at the OPEC meeting in Vienna this week. Source Bloomberg
Russia is in talks with European countries to determine the entry point of the second line of the Turkish Stream gas pipeline flow, Russian Prime Minister Dmitry Medvedev told journalists. Source Tass
French President Emmanuel Macron will host Russian counterpart Vladimir Putin for talks at the Versailles palace on May 29, the French presidency said on Monday. The meeting coincides with an exhibition to mark Russian Tsar Peter the Great’s visit to France 300 years ago. Source France 24