1. Ukraine update: EU considers ending Russian energy alliance by 2027
Other key developments reported by Bloomberg: “About 13,600 people were evacuated from four cities on Thursday, though Ukraine’s deputy mayor said the biggest challenge now is getting aid into the Black Sea port of Mariupol.” The UK has frozen Russian billionaire, Roman Abramovich’s assets, putting the future of Chelsea Football Club in doubt. IMF warns of a Russian debt default, Disney halts all business activity with Russia, MSCI is removing Russian securities from corporate bond indexes.

2. Federal government announces $2bn plan to fight Covid-19 this winter
The federal government will spend more than $2bn to boost preparedness for Australia’s looming winter omicron infection wave, set to coincide with the country’s first serious flu season in three years. However, there are no specific details as to what is within this roadmap, most likely to boost front line resources as “more than $9.9 billion has already been spent on additional hospital and health funding, part of a $41 billion federal government bill to cover increased health sector capacity and vaccine supplies,” the AFR reports.

3. What do jellyfish have to do with nuclear submarines?
Jellyfish expert Lisa-ann Gershwin, a leading marine biologist, says Brisbane is “close to the absolute worst place” for a nuclear submarine base, due to the conditions in Moreton Bay and the frequent jellyfish blooms. “Picture if you will America’s biggest, most expensive, most fearsome, awesome supercarrier is on its maiden voyage,” Gershwin said.

“It comes into the port of Brisbane and it sucks in thousands of jellyfish. It was a very embarrassing situation for the American navy. Luckily there was no major accident, nothing happened, nothing exploded.

“But when you’re dealing with nuclear anything, you’ve got to be [more cautious].”

“Jellyfish act like plastic,” she added.

“If you’ve ever seen a pool filter that’s got a plastic wrapper caught, it clogs up … and floods all over the place because it’s not going through the filter. The water gets stopped by this ‘plastic’ and then the water can’t pass by that. Emergency shutdowns of power plants happen all the time, very frequently.”

Gershwin said that if Brisbane was used to base nuclear submarines, a jellyfish shutdown would be “inevitable”.

4. Labor senator Kimberley Kitching dies aged 52
The Labor senator Kimberley Kitching has died suddenly of a suspected heart attack aged 52, prompting tributes from across the political divide. The federal opposition leader, Anthony Albanese, said on Thursday night: “The Labor family is in shock tonight at the tragic news that our friend and colleague senator Kimberley Kitching has died suddenly in Melbourne. My sincere condolences to her family. Kimberley will be missed by us all.”

5. ASX set for losses
ASX futures were down 39 points or 0.5% to 7092 near 7.35am AEDT, with the AUD +0.6% to 73.63 US cents. On Wall St: Dow -0.4% S&P 500 -0.5% Nasdaq -1%. Brent crude -1.5% to $US109.49 a barrel. 2-year yield: US +0.04% (1.71%) Australia +0.02% (1.25%). 10-year yield: US 0.06% (1.99%) Australia +0.05% (2.36%).