European stocks are coming off their first losing quarter in two years after closing Thursday's session down 6.3% since the start of the year.
Peace talks between Russia and Ukraine have yielded little fruit thus far, with Kyiv and its Western allies remaining skeptical of Moscow's intentions and the legitimacy of its commitment to partial military pullbacks in northern Ukraine. Meanwhile, Russian President Vladimir Putin has warned that gas exports to "unfriendly" states will be halted from Friday unless they pay in rubles, furthering global energy supply concerns. However, European leaders have indicated that this demand will not apply to Russia's European customers.
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