U.S. Secretary of State John Kerry has arrived in London this morning for meetings with his British counterpart Phillip Hammond and a senior US official said they would discuss possible penalties that could be imposed against Russia if violence in Eastern Ukraine continues.

The official said the Ukrainian conflict was expected to dominate the talks but discussions would also cover the fighting in Syria and Iraq, Nigeria's upcoming election as well as the Israeli-Palestinian situation

Ukraine yesterday accused Russia of sending more tanks and troops into Eastern Ukraine despite a European-brokered ceasfire that went into force last Sunday but has hardly stood up to scrutiny

Lest we forget ,while all the focus is on the Greek soap opera being played out that the tinderbox potential of this conflict is ever present

Once again I will stress that I remain a-political on this and merely reporting the news as it appears, given the potential impact on markets

Reuters has more here