moments later we have to leave and we just got word that the ice is just not just maybe moving forwards all the soldiers have been told to evacuate this area we're going to get out before things get intense we know that there was clashes last night and we definitely don't want to be here if that were once again it was apparent just how fluid a conflict this was the front lines change daily and no matter what military gains each team may bring if the iraqi civilians who lose as the war rages on to see calf no more r t u two problems iraq some experts believe the islamic states offensive is being orchestrated from abroad two states which are involved in the isis pro chicken this is on the one hand we've said already saudi arabia but on the other hand as well there is turkey we have saudi arabia is a country which is very much engaged in europe saudi arabia is doing a lot for radicalizing islam if you go for example to boston you will see

brand new mosques financed by saudi arabian foundations and this is not a liberal and not a tolerant islam they are preaching there this is nothing new what we're seeing in the region is the same aligned so forces arrayed against the people of the region that we saw since the second world war when when london and washington were allied particularly with the gulf monarchies in supporting the so-called muslim brotherhood and other much more violent sectarian forces in the region against those countries and states and leaderships which were actually delivering land reform social reform distribution of wealth and the nonaligned pro global sell or pro at the time quote quote unquote thought well policy. still to come how to make death threats to a state department agent and get away with it that's what the head of america's notorious mercenary group blackwater did to block an official investigation into the company. also scotland has played a story role in the british in britain's royal navy but what will happen if the

scots opt for independence day with this to find out more on these stories later in the pride. in their side to think twice before using anonymous services on the internet that you may be branded an extremist for simply searching for information about. now another crisis is looming for ukraine it's decreasing natural gas reserves kiev has already resorted to tapping its long term storage tanks after russia cut off supplies over unpaid bills and this is creating unease in the u. of this as the blokes energy chief here gunther says a domino effect is inevitable even for europe's powerhouse germany and the fear is that unless you crane starts filling up at storage facilities it may start siphoning gas destined for europe that warning has already been voiced by gazprom and echoing those concerns russia's prime minister believes ukraine's troubles could balloon into a full scale gas crisis as soon as this autumn to reach medvedev made the claim on

his facebook page. so why is there so much concern about a wider gas crisis in europe well let's take a look at the map over here to try and get a better understanding you countries receive gas from russia via multiple pipelines in the lion's share of it goes through ukraine what moscow has stressed that the supplies will continue as before but if the thing is over siphoning are realized europe won't get the gas it needs this winter as happened in two thousand and six and two thousand and nine international energy experts say the e.u. could end up having to pay for kiev stepped off rituals are really are. all creating and you should who should be putting enormous pressure on the government to come to their senses if they can't pay their spill even though they're being loaned the money to do so what will happen in the winter is that our european gas prices will go up as

a result of that lack of russian gas hitting europe when that happens all of the consumer bills in western europe as well i said to the energy minister michael file and that really we you know the end we will have to pay that gas bill out of the ukrainians pay or we pay it one way or another or staying with economic hot topics katie pilbeam ruffled the feathers of the world's money makers next and i'll be back with more of this week's top stories and today's news right after. america's military might and its foreign policy exist separately from one another the us is a formidable military power but sadly its weak foreign policy wise that is why i'm not inclined to suspect the obama administration of pursuing some secret plan directed against.

speak or language. programs or documentaries in arabic it's what you hear on. the tape from the world talks of the ip interview intrigued to. tell you. the arabic to find out more visit arabic t.v. dot com. hello welcome to venture capital coming up we discuss banking secrecy in fines as well as facebook abuse full of to my book. are you an american tim cabot gives us a peek at his a forever bulging. is the latest country to recognize the phenomenon

that is the the plan hey it has to figure out how to approach the budget car i see with regulations so as it stands is not illegal here like in china way it's officially bound as vice president of the bank of russia said it's impossible to deny this instrument which might have a future although having said this that does still seem to be an air of caution involved to it because it's use on the black markets for illegal drugs. so from all the calling i'm now joined by cars the experts been able to say do you think bitcoin has a future here in russia that. i actually think and read the cautious statements from the russian central bank more as an acknowledgement that monetary innovations are really a prerequisite for economic stability and resilience and then again bitcoin is only one of the many that are on the menu to come and already had its positive

experience with these occurrences particular in the transition after the fall of the soviet union so i guess this is really just a new phase of actually acknowledge ing this directly and of course but cohen has the big marriage that's asking the regulators to make a public statement about this and paycheck to free in this field but also this week we had a big didn't weigh getting thirty thousand. but he's pledged to go to the emerging markets with that he's going to going to india south america parts of asia as well do you think with the big oil and that's where it belongs well that depends how you define corner of course if you talk about the payment protocol of bitcoin this has huge benefits for the financial excess and for instance in these markets we have traditional banking sectors really failing most of the population with our experience in developing countries particularly in kenya and south africa and brazil and it's really more of the credit comes with. interest free and collaborative issue credit that helps local communities together to come in as

a payment system is really of great advantages there that's also partly why we're at the universe of. payments for our foreign students because that is easier than using traditional banking systems and now europe should update its laws to reflect the rise of does your current design what the hey it's all a bit coin startups head off a successful us. do you agree with this is it seen as broadening the a pail of bitcoin is now the time for more regulation. we're absolutely in favor of revising regulations in the light of these new currency that just came true to the playing field with bitcoin making the news so prominently but they have always been these conversations about the currency that we already know of in europe now we're engaging actively again with the regulators in our you partners to show the central banks and the f.c.a. and the a.f.p. on that any kind of currency from time banking to local currencies to business to business currencies and bitcoin has their right in an ecosystem of finance and

actually deliver to their policies and to their communities on the ground directly and that has to be recognized in the legislation which is still written in a way as if money was only gold and it takes a quite a lot of effort to revise the terminology and understand what money actually means i did binge of all thank you so much for talking to us from sunny london today radio plays a bad as we know with the basic line it's a working progress isn't as we always say. absolutely some everywheres in it has been a week of banking fines foes france's largest bank. agreed to pay a record nine point five billion dollars to u.s. prosecutors the settlement is over allegations that france's largest bank violated trade sanctions that were imposed against trade with sudan iran and cuba and then word was goldman sachs the u.s. bank was fined eight hundred thousand dollars by u.s.

regulator for failing to ensure that trades in its don't took place at the best price outdoor pools are trading areas that keep prices private but they're still expected to offer the best prices available on the u.k.'s barclays could be next the british bank is accused of both of fine documents missed representing benefits to clients including pension funds in response to the funding of the case shares of the bank dropped five percent. funds in russia then banking data will soon no longer be private the tax man will now have the right to demand access to anyone's account details at any time washing banks who also have to inform the tax service about the opening and closing of savings accounts within three days though this procedure is aimed at preventing tax evasion so i'm joined now by mark rubenstein from your bank here in moscow. the question is will this measure stop

tax evasion here in russia. rather this moves they definitely going to direction the. russian government now once this is already in their their tax reform to go into there is the reaction there there is that they're going to be why the actions of church authorities to their records not only. of companies but of individuals as well have a skew this is copying the current legislation the state the state in terms of a lot taxes in the in the developed countries where. in most developed economies tax authorities can gain access to the individual accounts i think. this will suddenly. stop a some tax evasion in russia i think it will certainly send another signal to tax

evaders and they will be forced to be. more inventive fifi fief i could say that but it definitely and will have some impact in terms of tax collection do you think that it is invading people's privacy do you think it maybe is a step too far. always do they it's certainly it certainly is and it is invading people's privacy. in my view is that access to bank accounts should be only nagging to the texas authorities when there is a little brown said and investigation and. has been started he used to haitian terms of on tax evasion so it's got to be order. that would go low allow the tax of stories to get axes people bank accounts i was just giving tax authorities plane

permission to gain access to hating bank account of a change of egil i think that different he's an invasion of privacy and i came out queer leave it that thank you very much indeed for your time today talking to us from some of the most guy this time and on to a different type of fine entirely the next time you feel tempted to post a little abuse on pot as a facebook page well don't know. just because it is not nice because you can't end up with a hefty fine for doing so i a thirty year old man from ireland has been forced to pay over two and a half thousand dollars for posting a piece on his ex girlfriends page i don't know he just the friend the ex and or ana seems know me better that way this guy is the culprit is he was been happening here rough surface of his post of russell is determined to solve the problem of missing post and is ready to pay over half a million dollars for a brand new mobile app to keep track parcels on their journey that apple sold like

eight the nearest post office fund the syrian government has signed an agreement with the russian company statoil gas the deal is to construct an irrigation project to fight drought in the northeast of syria and is worth over two hundred and a half million dollars russia just from could get a set of one of the projects of germany's wind to settle in argentina on talking of gas probably the price of china will pay for russian gas was revealed this week the various reports point to the same twice it is paid by germany currently it was thought that china would pay much less to a country that has been buying russian gas now for forty years. time for ten well even up to this week all last week it came up superstar all russian steel which is a great name for both the steel company and eighty's action movie or russian steel

but the interesting thing is due to the crisis that's happening in ukraine a demand for steel increased and so they were up by three percent and i made about five hundred dollars if you could believe that so you're also one interesting thing about superstar is they're not only a couple but they have their own dedicated hockey team not just some team that they put their our logo on the jersey but let's see who are going to invest in the this week you know katie i actually think we need to maybe stack the deck with a couple of companies that. or less successful because we just keep winning our civil. war room waste money when only wished money that we have to waste one hundred dollars on something fun last time it was pizza and we're stuck with. for a bird or good for ok well it's worked out well so far there's also not too bad we saw that last time as well when you had waste money you did spend one hundred dollars on previous. best of luck with the matter.

color coordinated for a steel company this way we certainly are also working for us and good luck or thank you very much you will soon know we. u.s. citizens of course celebrate is independence day this week on the cost of doing so well it was more than ever before because not only were the fireworks expanding but also food prices because of both a favorite from talking about beef ice cream and even salad all sauce prices for beef are sixteen percent higher now this is due to a shrinking u.s. council on the drought in california as well has also boosted production costs if you are watching for america you still managed to. and had a great day and to everybody else as well i was eating wheat that is venture.