Germany's leader says Europe must be able to look after itself and not rely on the US.

Live from the UK, this is the Marketplace Morning Report from the BBC World Service.

Hello, I'm Nick Qureshi in Fort Leanna Burn.

In an exclusive interview with the BBC, the German Chancellor Friedrich Mertz has accepted US accusations that Europe

has done too little to fund its own defence and security and that it's been free-riding

on the US in the past. It follows a BBC interview with President Trump this week, where he

backed the NATO military alliance, now that members were paying their own bills.

Mr Mertz told the BBC's Nick Robinson that Europe needs to be more independent

as the US focuses more on other parts of the world.

We are all looking for more independency from American defence.

We know that we have to do more on our own. And we had been free riders in the past.

And the Americans guaranteed our freedom and our security. And they are not willing,

understandably, to do that any longer. And they are asking us to do more. And we are doing more.

I'm observing that the Americans for years now, They are asking us to do more and we are doing more.

I'm observing that the Americans for years now moving away from Europe and turning to Asia.

This so-to-say pivot to Asia is happening. And there are other places in the world the Americans are interested in.

And they are seeing themselves in a very hard competition with China

and that's the reason why they are telling us, take care for your own and we are doing it.

That's the German Chancellor Friedrich Mertz speaking to the BBC's Today program.

Right, let's move on to some numbers.

The EU has agreed more sanctions against Russia, further targeting its financial and energy sectors.

A lower price cap for Russian crude means oil prices are up, Brent crude, currently just under $70 a barrel.

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