well signing gas deals with russia two years ago auntie's alexian a chef skee has been following the events from outside the court where tymoshenko supporters have been involved in scuffles with police. at times it seemed that the tension would go over the top with the supporters of thousands of them trying to organize a march through the streets of kiev and being dispersed by the police with no real brutality but still some pushing and shoving and the situation was really explosive still several people were injured in the pushing and shoving with the police one woman was saw as she was taken to hospital having fallen from a stage or from a staircase or something like that inside the courtroom of course it was very tense as well while the judge was reading out the verdict. was over shouting the judge was screaming abusive words at him saying that this decision this verdict was not done in accordance with the criminal law but was orchestrated by president viktor yanukovych indeed the reaction from the former prime minister when she learned that

she's to spend seven years in prison have her property confiscated and to pay out almost two hundred million u.s. dollars in debt was very much furious. with the retiring regime arithmetic to stop me the trial showed that the constitution and justice had been trampled on dispute i urge you to begin the struggle it's a very difficult and important moment we have to protect ukraine against the authoritarian regime don't give up when her stand at the protest the several thousand of them will remain in the key of central street for another week at least to follow the developments and to see whether their leader would be set free or any any other development could happen to her while moscow has been saying all along that those deals but in two thousand and nine were signed in full accordance with international law and with the two countries legislation and the reaction which we have already received from the russian foreign ministry is saying almost the same that the court which had the verdict delivered basically neglected the fact

that russia believed that that the deals were signed lawfully and the verdict itself has something over anti russian pretext that is what we've. hearing from the russian foreign ministry clear it is unhappy with the way things are going because we know that the russian foreign minister and president medvedev have been saying that this case should be transparent and that the gas deals were completely legitimate. today's verdict has already received critical reply from european union officials with calls for the e.u. to rethink its relations with ukraine and reports from brussels. there's been a whole stol reaction from the people in europe here the european union's from policy chief catherine ashton says that she's been following the verdict and that the european union main fact reassess its whole relations with key of as a result of this verdict we've had the e.u. saying is deeply disappointed with the judge's decision and the e.u. commission i did there rick serious consequences for by that relations and earlier

today the european commission's they hoped for a review of this of this verdict on appeal and we've wanted to see changes in ukrainian law so this sort of case cons happen again the head of the european parliament regrets the the verdict of tomasz oco and he's calling for a review of the case on appeal now ukraine wants to enter the european union has been discussing a free trade agreement and the ukraine president is actually due here in brussels next week to discuss the first steps to joining the european union but the sounds we're getting here from brussels is that this may be put on hold and in fact stopped if if this case is not reviewed let's not listen to an expert for more details on this case but here in union has already made it clear that if you use this child very dimly it takes a great gives you this trial it doesn't like to see opposition politicians in prison and i think there is every chance that the european union may take some strong measures such as freezing the talks with ukraine frankly there is no chance

at all of ukraine joining the so there were serious doubts about whether key of would actually go through with the ukraine would actually be able to join the european union but this verdict on yulia timoshenko really seems to put the entry of ukraine into the european union into the long grass. from the russia and eurasia program in chatham house told me they learned that ukraine may try to use the case to review its gas agreements with russia. there is an anti russian subtext because they are trying to find the maximum a justification for false second alteration of the gas agreements no to say what the agreements that yulia timoshenko entered into in two thousand and nine or two in one contract and then secondly a supplementary agreement said they were illegal is utterly bizarre the host

president chen of clothes which can phone the didn't see these things when he concluded the kharkiv accords with president mitt the ages in april two thousand and ten he affirmed the validity of the a colt's it europe him a shameful concluded with prime minister push him so that this is one of many absurdities in this whole drama on full well for more insight on the gas verdict i'm joined by enron to temporal he's the head of the european geo political form joining us in brussels and when we've heard that the word from there is that this trial was politically motivated that's the general consensus do you agree with that . of course a lot of people are actually declaring that it's politically motivated and it's attention grabbing headlines that we're looking at now in ukraine but i think for me the bigger question here the bigger issue if you lie is that this case this very sad and sorry case demonstrates how different ukraine's political culture.

is to that all of the west or the mainstream european union countries let's say i mean what we're really seeing here is a case which demonstrates that you know politics in ukraine and the let's say the ability of one politician to come into a position of political power is for the purpose of extracting revenge on previous political opponents and in fact you know nullifying or you can even say more drastically destroying previous political opponents which is of course north very positive sign at all for you know the emergence of political plurality in ukraine and you know the type of political culture the we in the european union would like to see in this country so i think you know that a broader way of answering your question if you like but the key issue is that

politics is always a major factor in these major major type of decisions presumably that really does show the ukraine is not ready to join the e.u. and indeed the work we've got from the european union is that this case will actually probably confirm that the dreams of the e.u. membership could be that. well i would put it slightly differently i mean i think if for example russia would be would have been let's say an e.u. candidate country in two thousand and two two thousand and three and then we had the arrests trial and sentencing of one. generally people are familiar with would we have said that russia or there has a chance of joining the european union probably people would argue to the contrary it had that been the case now what we're seeing here with the trial and verdict is in fact the the rise of ukraine's styled saga which of

course is going to put ukraine into a much more burdensome let's say relationship with brussels with your atlantic institutions in the broader context and it's going to make let's say even negotiation all of sort of coleman economic projects like you know free trade agreements all the sort of areas of. economic proximity also just quickly significantly say losing friends with the west and of course with the east now how significant is it that relations between russia and ukraine could be put in this pretty stressful level now and indeed the war is about energy issues in the future . yeah that's a very valid point i mean i think in many ways this verdict is somewhat of a slap in the face from moscow from kiev because in essence what you are saying by adjudicating these to be a criminal case by a former legitimate ukrainian prime minister you're actually saying that the

legitimate government institutions of ukraine in january of two thousand and nine where not actually legitimate ok now that's actually saying quite a lot i think from. big brother in the north because of course at the time was the legitimate prime minister of the. and you know one can argue that the agreement was not the best negotiated agreement for ukraine one can argue there's a lot of backdoor sort of interests here but what we must take at face value is the reality of the fact that this was a legitimate prime minister for all of the country at the time. and again the sign . just very very briefly there are concerns about the democratic future but nevertheless this could actually strengthen tomasz his future as a political leader could it not just very briefly and in the long term. in a sense it's a defacto ukrainian spring in the further evolutionary stages if you. make

a metaphor with the arab spring i mean you know the arabs like them martyrs they like martyrs from various you know political figures i mean ukraine it's not not sure the mission could well actually be sentenced in terms of. the sentence will be actually implemented there may be appeals and other procedures but it's already moving her into the direction of a martyr for ukrainian population if you take so much for spending time with us here live on our team our twitter on the head of the european political forum live in brussels thank you well of course your opinion on the story is always welcome on our website and today we're asking you what the sentence means to you well let's look at the results on the screen at the moment about a third of you believe it's a clever ukrainian ploy to avoid paying for russian gas while the other thirty two percent think the verdict is simply a politically motivated mockery and the rest are split between two options whether the sentence is justice or it's a fatal error blocking ukraine's road to the e.u.

something we're discussing a little earlier with my guest log onto our t.v. dot com and have your say because we hear from. russia and china of boosting cooperation in a bid to balance out the economic and political dominance of western countries prime minister vladimir putin is in beijing to solidify diplomatic ties and overcome trade hurdles. following the land mark meeting. so we're joining you live in beijing what do both countries expect to achieve from this visit. well bill it's important to mention that this was prime minister vladimir putin's first visit since announcing his candidacy in the upcoming presidential elections and some say it signals a change in focus for russia for many years the west took a center stage when it came to the country's political agenda but trying as economic progress has mosco look in the east and of course when the world's biggest

and fastest growing economies come together many analysts say that it could change the fifth of balance in the world and both nations have supported each other throughout the years and this is related to sovereignty developments and security and of course they also share similar political views and that was proven just recently when both countries vetoed the european draft the u.n. security council resolution condemning syria which also hinted that it could face sanctions if it continues its crackdown on protesters russia and china are also both members of the brig's group and along with brazil india and south africa and the continued economic uncertainty in europe and the u.s. has seriously undermined their dominance of the global political stage paving the way for emerging countries like china and russia and prime minister putin said the u.s. is using its dollar monopoly as the only global reserve and that's have

a negative effect on their financial policy. because i never said the us was a parasite on the global economy but i do think it's the monopoly of the us dollar . currency the problem is it's bad for the world economy america's economy is. violation of financial district. when it comes to the e.u. vladimir putin is a big problem but it could be resolved if countries weren't afraid to take action he said that russia and china should leave their a national financial systems and that the role of the brics school to become more important on the world stage. i think it's time to talk about reforming existing institutions first of all i mean global financial institutions such as the international monetary fund and world bank we agree that the role of the brics countries in these organizations must be given the growing importance of

our country's economy. but it will tell us more about the deals that have already been. well vladimir putin was accompanied by a huge delegation including russian business tycoons and they were all here looking to make deals with local companies and the result of that was seven a billion dollars worth of agreements some ahead by russia as the bank was also committed to establish an investment fund and of course energy is a priority for both countries and the premier said that all issues and this agreements when it comes to russia's well supply have been resolved now when it comes to gas they're still in the those they promise that they're in the final stages and their consumption is of course expected to increase dramatically. over that and also another key focus was trade china has the back to the number one

beats in germany as number one trade partner promise of lot of confident that this year their traits are never a wolverine's at least seventy billion dollars with the overall goal being to hundred billion dollars a by twenty twenty so there is a lot of big hopes and ambitious plans but both premier said that their confidence that they have established the pipelines that will make sure that they become a reality thanks very much indeed for the. beijing correspondent there for us. this is also coming from the russian capital it's coming up very nearly seventeen minutes past the hour and still to come the merchant of death faces trial look at how the case of a russian businessman accused of stealing is casting a shadow over the u.s. justice system. let's turn to come but first some of new york's wealthiest tycoons could soon come face to face with the rage of wall street demonstrators

hundreds of activists are planning to march their homes in protest against the widening gap between the rich and poor in america. joins us live from new york exactly. who are the people being targeted by this anti corporation protesters. well these protesters say they are targeting the five wealthiest residents in new york city and the names on this target list include c.e.o. of news corp rupert murdoch and the c.e.o. of j.p. morgan chase jamie diamond there are five people as i mentioned on this list and what we're being told is between four hundred and eight hundred occupy wall street demonstrators will be visiting each of their homes and this is to raise awareness about the two percent tax that will expire at the end of this year the tax that the wealthiest would need to pay have paid and new yorkers say that this

is fiscally morally economically irresponsible because once they stop the wealthiest stop paying this two percent tax much less revenue will be going to new york and ninety nine percent of the residents will be suffering in the aftermath of that so they are taking part in this demonstration today to raise awareness about their ongoing message which is that the wealthiest americans continue to reap the largest rewards while ninety nine percent of americans working hard or struggling to work are the ones that are suffering amid this economic crisis now occupy wall street of course is in its fourth week we've been reporting about it since the very beginning. yesterday there were not that many arrests that were made in new york city four people were arrested one was arrested one woman was arrested for riding

on the sidewalk with chalk but it was in boston where we saw the mass arrests take place on tuesday more than one hundred occupy boston protesters were arrested following a clash with police officers for what's being recorded. u.s. veterans that were taking part in occupy boston were beat up by some police officers that's of course we're going to reports now on their arrest came after demonstrators taking part in occupied boston were trying to expand their campus area to a park location from what's being reported more than a thousand people in boston are now taking part of this movement that of course speaking and here in new york and has blazed across the united states. there are also reports the campaign is spreading beyond the u.s. tell us more about alert. that's right on saturday october

fifteenth there is supposed to be an international day of action against banks and that's where what you have seen transpire here in new york occupy wall street is going to basically take place from what we're being told in more than two hundred fifty cities all across the globe occupy london is planning to demonstrate and organize outside of the british stock exchange in las vegas there is going to be a demonstration held it is supposed to basically take place in various countries all around the world of course with the same message message of how corporations are influencing government decisions not only in the united states but all over the world and this is essential. movement that extends far beyond the borders of the united states really thanks very much indeed for. your new york

well people across the u.s. express the frustration auntie's kaiser report is getting to the root of the relentless financial crisis and here's a preview of what's coming up in the least if we today a nazi. those are of accounts from old ladies sitting on fortunes and every single month they get their statement and they get out their magnifying glass and they try to figure out of the bank stole money from them this month but they're very good at doing it so they can pick it up or other pension accounts or their teachers or their firemen remember all these public workers accounts they're being vilified because they want to living wage meanwhile their pensions are being destroyed by bank of new york and other banks. because we're poor coming away to later here in the meantime a russian businessman dubbed by the us media the merchant of death is going on trial in a new york accused of being an international arms dealer who was brought to the u.s. from delta being detained in a sting operation by american agents but if he's going to come reports some jewelry

could be difficult to come by. a new york judge said should require jurors at the trial a victim to sign a pledge not to research the case on the internet or the media the campaign vilifying bush has been so intense here that one might very well expect the worst would be affected by the whole background for vida's by then you get here he is often referred to as the merchant of death even inspired a movie called the lord of war starring nicolas cage so it could be very hard for the jurors to ignore the legend that was created by the media big to boot has faces charges of selling arms to a terrorist group and conspiring to kill american citizens if convicted he may face life in placing according to the u.s. he was one of the world's most active black market arms traders boots denies any wrongdoing and says he has engaged in illegal aircraft sales and shipping business the u.s. had been trying to get him extradited for two years russians believe they managed

to. do it by putting unprecedented political pressure on the government in traditional authorities of thailand what makes the case political is the underlined implication of the u.s. accusations essentially that victor bush was able to pull it off because of his government connections actually books lawyers and some intelligence experts claim that the reason the u.s. so wanted to have in custody is his allegedly extensive knowledge of russian military and intelligence operations well yes he served in the soviet army but it's really unclear to what extent her book is really knowledgeable in all those matters again a lot of hearsay around this man about who he was and what he did here in the united states you constantly hear things like the quintessential war profiteer referring to the good but some argue that you know victor good to know victor good could compete with the united states in war profiteering after all is the u.s.

that sells more than half of all weapons worldwide including to places where political situation is far from stable going to check on that this could journalist daniel estulin says that to boot is unlikely to face a fair trial in the u.s. because the case could have an impact on washington's image. the united states government is going to have very very hard time proving that their target is guilty and it's going to be very difficult time making the label of merchant of death stick in the court of law and unfortunately for the united states government there is very little verifiable evidence they will be able to present most of it is hearsay most of what he should say it's he said she said about things which no one has ever seen and this is something that again unfortunately the team representing him right now was not in the position to deal with because they're simply not up to scratch he's not going to get a fair trial he's in the united states. the evidence that you know how can we get a fair trial well the united states government has done everything in their power to bring him to the united states after two years in thailand and now they put him up on trial in the united states only to have baldwin and embarrass the united states i don't think is going to happen twenty five minutes past the hour exactly

here in moscow business news is next with with the summer home a new stories and five minutes from. her welcome to business and it's all eyes on china russia and china creating a joint investment fund worth up to four billion dollars the deal is to be sealed in the course of prime minister visit to beijing the start out will be jointly run by the russian direct investment fund and the china investment corporation each has already allocated one billion dollars to the project at least seventy percent of the funds money is expected to be vested in russia and a former cia as countries. and then further effort to boost trade beijing has decided to cancel exchange fees between the u.s. and the ruble however despite the increased trade volumes jacob now chief economist from morgan stanley believes full convert ability the u.n. is still some way off. the two big reasons wally fool you and

convert ability is maybe four years away the first is that currently the un is valued if it was traded at its free market price it would probably appreciate by twenty to thirty percent and you can see that in the big current account surplus is that china runs they've started to look at the one appreciate again or for a couple of years where they held it for during the crisis so in the last two months the un has appreciated against the dollar whereas the ruble and most of the emerging market currencies have fallen sharply so it until it gets to a fair market value i don't think you'll see it feel free traded on the other reason why they're going to move slowly is they're concerned about control and if the external value of the wind is set by the boy the decisions of central banks to boy you won or not then they will lose a measure of control. let's have a look at the markets now oil prices are heading out after declining following opec's decision to cut its global demand forecast like what it is trading at eighty

five dollars a barrel while brand is at one hundred ten dollars per barrel this hour the u.s. stocks a mixed on concerns that slovakian might not approve expanded european bailout fund the dow is trading lower a day after it jumped three hundred thirty points its largest increase since august eleventh the nasdaq has climbed nine point seven five points and european stock markets closed mostly in the red as investors awaited the outcome of a crucial parliamentary vote in slovakia the footsie it was likely slightly lower weighed down by losses for the mining sector a couple minor out of augusta was among the worst performers dropping one point six percent as copper prices falling several days of gains other commodity stocks posted similar law says for the eurasian natural resources dropping two point three percent the german dax bucked the trend of the negative trend to end point three percent higher with drugmakers rising. point four percent and here in russia

markets closed in the red after several consecutive sessions of growth let's have a look at some individual families on why six oil majors among the main or treaters weatherall snapshotting more than three and a quarter of a percent banking stocks are also under pressure woods by bank losing almost point seven percent that's after it reported net profit for the first nine months more than doubled to eight billion dollars. and that's how business stop update for this hour i'll be back in about forty five minutes with more.

discovery. communicate with the wind. and become free. see what nature can give you.

ukraine's prime minister is sentenced to seven years in jail for abuse of power when. russia. china becomes the first country. after declaring the presidency. to the. movement against social inequality and corporate greed. we'll have more news on those stories another divide.