we're provide them with more than 200 when really and cubic meter. and if we had a normal relations, then most of that gas would have gone through ukraine. but, but i remember the food problems have been created and not political. when there was more economic ones, i guess the monopoly to gas transit. then you create an illusion that you can suddenly lose the price to the skies. you get more than use it and that's in and asking for exorbitant prices for gas transit. pretty much the same time, the ones to decrease the pricing before the gas a large range. and so it's all about monopoly. it's not about politics and it goes way back. we signed a memorandum with ukraine and there is a former chancellor of germany, germany, mr. myself,

mr. jack, then chancellor and even then president of ukraine, mr. coach markham. we all saw memoranda on building a consortium on the basis of the crania and gas distribution system, whether participation of ukraine, of russia, germany and other projects. and we wanted that kind of solution to, to be the property of ukraine. the consortium was supposed to develop them after that presentation co k signed at all, you know, due to she was, was revisit and revised. there was this candle green as a blick, you know, when you create simply blog to try and list you see what kinds of risk were involved in thought about the armed forces. ukraine allegedly has no money to pay for the right. now we get $1500000000.00 for transit, but they could get up to $3.00 to $4.00 to $5000000000.00 for the trans they. but

they simply destroy that all of them with god. as i said, the contract of 40000000 cubic meters. and we believe that the value of the export to europe might rise another $50000000000.00 of additional gas. you move the quarter with the record to purchase last year with the gas to add 180000000000 this year. it can read more than 200 bailey and like the economy is recovering absolutely. pandemic. the demand is growing. we believe that in the next 10, yes. we can see another 50 bailey and cubic meters. so you see with the ukranian transit system could be years. dave and once our contract

on transition to runs, the ones that expire and were willing to do that, but there needs to be a good way to create an account and they should they shouldn't think to probably get money out of that to achieve a military solution to the don by the project, know they need that they need to think about recovering the economy. we bail jenny, it's helping people with yes, we have difficult relations with the grain. you know storage is but we are carrying about the people who live in ukraine. why not in different if we had good relations to happening in the city right now, we sell the gas as $26263.00 for 1000 meters. whereas in ukraine

has it almost 300. when it was, we had it in 50 ship and i'm not going to name the figure for bellows. the bellows pays 3 times less than that. whereas the craniums pay even more than that, we want to forced to normal economic relations, which is something we want. and we hopeful that common sense is going to prevail in decision maker globulin. so if we look more at the market 1st and stream to another, you, since this is january discussion, let's have a look at all. yeah, i got a which uses euro and as euro, which service cost and russia that have on gas. i see you've got that. so could you tell me, please, why kata and russia to be selling gas for dollars? if i didn't come to the, you are the that uses euro. why? why junior?

the data man. so let's start with chancellor cars. why are you paying with dollars for gas, even though you have euro and you could pay with euro as it relates to answer and then well, there is a very simple answer to that question mark. we've got an international system and they should be and that is why market prices calculated in $1.10, probably. and then if the steam our current well we would do use it. but the thing is we are using a system that has already proven its efficiency. and if we look at the austrian economy, as you can see, our economy has been making very good headway, and saying steadily. and we need energy of security for the one. that is why austria has built up our system of its energy security. taken into

account different factors. we have made great headway and security and renewable sources of energy almost by 2030 where we'd like to reach 100 percent of renewable energy sources in our economy. but too far, we still require both oil and gas, and that is why we have very good ties with many countries. we have also for good and reliable corporation. that's why we're few not stream to and a very positive lights. and it's we don't want to say we're economize on transit. we only want to make sure everything is safe, secure, and reliable. as far as for ukraine. yes, we would very much like to to be a solution to this past year of ukraine. we believe in the national corporation has

to develop the battery to as the more stability it means for all of us. and the battery, jazz for development is actually not just newer, but also elsewhere. so if you say that this is just the way the international system works, but ed was built back in the 20th century as we have always lived through a quarter of the 21st century and say that the dollar denominated system as reliable. but how can it be reliable ones? a 3rd external policy can block the payments at any time. so is it really that reliable? as you say, in my present, we are not in a humane thing. yes. okay. market prices across the was my calculators and us dollars. so as just tradition wait could pay in euro for

our energy requirements. but we don't think this is to be. this has to be a question of politics. it's here. we can mix for base, we can be able to, if the price is a calculated in dollars, then it's not that important. what currency is denominated in the calculated in. but we have to think about sustainable development. we have to think about preserving and conserving our resource, says transporting energy to we've got to take all of that into account live. and that is why i'm open to loading and be able to see me when we look at big countries, we understand that maybe for them, the currency, it's important, but we are a small nation and security is more important to us. the price mister present. do think the currency is not important,

i think is what's important as predictability and reliability. the currency is not important. what about the 3rd party in the will as well as the issue or something to the u. s. senior does not have a value currency as an international reserve currency. i don't think they valuing that because they're using that as an instrument for competitive gales, damage to the reputation of us dollar as the well national currency. if you look at what's happening, this is not the our assessment, it's assessment of, i'm as well as bank and many countries, even because us allies decreasing national reserves denominated in us dollars, transactions and dollars are also growing down. however, we see that russian rate is mostly prefer formations in us dollars,

although we have technology that won't ease mostly time to lease all that is, is a store trade commodity on like gas. so generally we are okay and, and i think the option to make those settlements in national currencies. and this is something that we have been doing with a number of our partners. we're ready to discuss potential settlements in euro as well, years and absolutely acceptable currency for us in terms of trading gas that could be done and probably should be done. however, even the oil industry shifts away from transactions in dollar, then it would be very strong attack on dollar as a world reserve currency that would be a very big damage. so we do not want to use those tools for some kind of political purposes. and we don't want to do that, but the whole lot of development of the world economic system and the world currents, the system showing us that we need to have these diversity in reserve

currencies in order to guarantee the sustainability of the world economic system. and that's something that way, cautiously thinking about how your highness, may i please on your opinion, on that the state of culture being the largest manufacturer of allan gee, and one of the largest supplies to europe, division of the state of called her on the future of the world gas market, do you recognize any risk thing? the fact that europe is shifting towards the carbon neutrality policy? i'm missing mother to tell a dog. yes, and i was, if you couldn't really said tar lang, tory should have big role in gas. the promotional for 2nd, no, no. up until almost 2026 would plan to

raise the sun for fee. and the john said to say that i learned from car times of high quality. and that is our competitive advantage. we're making you so we corporation with many international companies to i'll give you what to do in here, including russian companies. and we use the fish and sea of this called corporation. you tell common good news in modern technologies with take into account or be an environment protection net. of course, very important. like i said, we plan to achieve and indicate by 2020 will show on the gas exposure countries do. and i hope that was helpful enough,

said soon we're going to have yet to know that meeting of the 14 countries forums i've seen call tim and we go into this house for the potential cooperation. coordination of such a huge responsibility to our shoulders. we are responsible for the future of the energy sector in this regard. as a mom that can be other than the jobs. and i have to say that one of the key elements of our future vision is on the effective use of gas. thank you for your attention coming to the topic of sanctions. thanks and have been, hold on one today, they're all sanctions against russia. they're all sanction adopted by russia. so the countries in response, lately we've seen a list of unfriendly countries being published by russia on this list, there are 2 countries. so for the united states and the tech republic, we could probably discuss why in those 2 countries. but since that is an economic

form, i would like to talk to you, president putin. how can we raise investment from unfriendly countries? we have to work and culture reach with the people and the companies in those countries that do not consider route to beat the enemy. gets in and you can see the delegation of the u. s. businessmen were traditionally present the same period nationally going to make for the i'm just about to yes, age was the most numerous delegation. it is actually the same case. this time, more than 200 participants from the american won't. that is, it clearly indicated that the us businesses are interested in working in russian. and despite all the political restrictions and limitations, they are doing best in order to retain the positions on the russian market. because that is an exciting and promising market. many companies capitalization hi,

thanks to doing business in russia and having their it here and those big amounts of assets and especially in the energy field support. and so that is exactly those people in those companies that have enough in common with them in order to build relationship with russia is something that we will keep doing business with the chancellor. how do you think, why is the relationship between russia and europe have been deteriorating so dramatically over the last few years? is this lisa sent me. so i must indeed frank speaking, that is also a very negative and upsetting factor to me. behold, when i took my off, when i was very much hopeful, losing lace snail,

the company on the lease of the crane would be resolved to very soon with me home to fruitful corporation. however, over the last kind of what's been gusting with the minister of foreign affairs and many of the stakeholders and for changing nothing has changed and that does not contribute to well stability. and what we're seeing is rather needed deterioration. the relationship between ration you might be different reasons for that, but the objective austria is to make its contribution to make sure that the bible of escalation is coming on down and finally, coming to an end we believe they're also being made that contradict international law on giving and those that resulted

in the consultation. they brought us where we used to be crane and of course we would like or options for potential cooperation. of course, we'd like to find a way out of this very bad and very unpleasant situation on the diplomatic level. in that format means a mechanism means arrangement is wrong. very many countries all interested to make sure that there is a certain time coming when we come back to normal, unreasonable dialogue to meet, meet them. the same is the international can make form a exactly a platform that is bringing us together rather than making a fight and one another. that is the right thing. that is how it should be done on the, on the get all the key players understand that the boots, keeping the peaceful play, the objective economy, aim for peace and be again someone we have always supported that mechanism adopted

by the european union. austria supported them whenever we understand and recognize that there will some steps being made against the norm of international law. i law whether we want to achieve the ability on time good in the common interest and ukraine organ, rochelle, wrong, the well, president coaching, going to russia was to have functions by providing the 1000000 domestic development and growth will understand that the previous year was difficult for the whole world change the pen demik of damage. a lot of human lives have been lost and the oldest to, to be group countries that have money for didn't all, it is a human life. the other countries don't have this money. there's a notice some, some far away regions in latin american africa,

even in eastern europe, have neighbors that are in a dramatic situation. let's take the example of ukraine, ricky and russia. when you can see the thoughts of many ended in the 1st great. russia has money, russia hasn't acknowledged team. russia was the 1st to get to the vaccine against korean. if i just registered and rolled down the vaccination campaign, we have money to provide additional images to the economic development. however, once the previous, very difficult, when over, it turned out that the reserves of russia have increased. well, the state budget, we have them in finance, sit on them in the room, has, has a system of one treating rubles, i guess investors in the room would have questions if the russian of tory, his keeping their money untouched in the hands on with the why would the foreign investors believe them and invest in russia? well, i don't really follow your logic. you listed the thing is that we haven't fully

used all the money allocated to the state budget and that we're planning to spend issue with all that. it's not something extraordinary, but it's something that happens relatively frequently and that is due to the fact that money is being allocated for specific measures and events. but that way i know, allocated or not because lead operator has been planning to put up if he doesn't have the funding to connected with them. limitation of the respective project. i'm not ready to accept this financing and start implementing the project . it's the standard economic practice. there is nothing extraordinary about that. but that is a truth that we do have a valuable resources that we need. and this year we are going to have a budget profit. and the trade selder is also demonstrating that

industry profit $146000000.00 us dollars. the golden reserves increasing more than $600000000000.00 is the amount of gold and for x rays that the now a country that applies to the severn wealth fund. of russia to keep to, for the premium. so those are just approximate figures that i'm naming now might be not quite exactly right about them, but they idea is that those are increasing for in 7. well, fund wanted to know my lady. she, this is something that was specifically decided to set up above 65 percent. then we are going to allocate money for big infrastructure project. but in order to balance this money on the infrastructure project, we need to get them prepared and just we come to them,

spend this money everywhere for all the sources we have. it's not just like slanting fees, hoping that they will grow. we have to be very careful and very rational. it has to be a well thought process. and it's not just that we agree and don't want to spend money and, and that as a result of that, well then i would rephrase. my question is we're having any plans to spend the money test having it needs reserve, what we all spending this money from those reserves, the 4 and 7, well, fund is already funding some money and it was mentioned by all finance minister. well, those hundreds of millions of rubles, that have already been invested into this infrastructure projects and other large scale projects. although we aren't trying to invest this money in the project to bring this weekend, not today, not any time. this is a long investment horizon, but still we expect some return for,

from the kind of make the point that the right approach will ready doing that. and we will keep doing that in the future. that also relates to the railway trans potations to julian roads and many more. and this is something that we're doing already. and the industrial development is also something that we invest into says large scale industrial projects. of course, we're doing that on to mr. making. so on, i'm i right in saying that knob attack also received some financing. well they go there was a gas leak reflection as yet another project, together with our partners from china and france. russia been supporting that type of project and investing this money also from the suffering wealth fund him, but it's one of the big problems that russia, people, according to many business, many facing a high interest phrase in one of the telegram channels. well known blogger like did it, but i don't the mr. president, when you sign up tickets, telegram can well, in his telegram channel, terry boss,

really writing about the polices of the central bank, claiming that the central bank is not providing enough money for the business development. mike shipping the interest rates are too low. can you please comment on that to do well, those who are taking loans obviously want to have lower rates, but those who are providing those loans. and that of course, applies to the central bank. it's primarily responsible for keeping track of the macroeconomic indicators. and the key issue with the macro economic indicators is the following. she will follow yesterday and even this morning i've been discussing you with some issue. there are 2 key issues that we're facing as of today. what are they through the labor market with some good iep, has to be recovered at least to the level of 4.7 percent. and that was indicated before the pandemic, while the level of unemployment. we have numbers 5.2 percent. the 2nd issues, inflation now the inflation is

5.8 percent. the scores from the experts generally agree that we can keep it at a level 5 percent or some last that is the level of inflation that we would like to have the result of 2021 live. and therefore, the central bank set generally been keeping the interest rate relatively low for our economy to keep policy rate has been low from quite a long period of time. and the central bank had to react when what was happening and the economy in general by retaining liquidity and mr. dairy pass guys very well aware of it. he's inexperienced businessman, a successful one, but certainly he's willing to help keep money. finding the right balance of those interest is exactly the truth. and some claim that the authorities do not react to the comments of the blog. so he goes to another problem that is being actively discussed by the business is the pressure from the law

enforcement agencies and not only sometimes that type of issues as being discussed on the international level. we can recall the case of michael colby and some other cases in moscow retention. pre detention center is something that we have a record amount of business men. and just in moscow, i've for pad some coverage on that. and one of the stories that had coverage in my program within a business meant from call me was somebody named pulse sitting in a pre trial detention for 4 years already waiting for the sentence. it's still know that once you start and i quoted you, we all tend to think that if we bring more order in a very tough way, we will all leaf better and safer live. well in fact, this level of comfort would disappear very quickly because well being tough we might feel, strangled very quickly. don't you think that we already being strangled?

are you sure you have just quoted me? yes. you know, you said that in 996. well, i don't really feel anybody being strangled the she is a floor enforcement agencies are indeed high and our agenda. and indeed we need to pay attention to that. and you know, my position on that and the last name, the lower enforcement agencies to protect the interest of the state of the society, of the citizens of our country. but into pre noise are also citizens of our country . and they are doing a very important business. they are supporting, be coming to our country. they create workplaces, they support levels of income and salaries of our citizens. they guarantee their revenues. and this is something that i keep talking about all the time. so we need to carefully watch what is happening and that is exactly why we have the ombudsman office set up for the taking care of the right of interpret noise you monthly.

no, i think you would agree some of that pressure to pretty much the quality of, into pre noise shape and activity that they engaged in, but not gave them a voice to violate the law with such a need to further enhance our legal framework. and lately we've adopted a whole number of legislative decisions by increasing the role played by the general prosecutor's office in the supervision and oversight over the activities of the law enforcement agencies. and i hope that it will play a role in this regard. as for the so called prison population, i would like to draw your attention that over the last few years it has been decreased by 2 times. therefore, we generally enhance legal frame and hold your respectively when to pronounce who i don to think that the person has not committed any violent crimes. do there really

have to sit for years and the pre trial detention center? well, that is a specific case. i need to know the detail, i can't comment in detroit now, but since you've raised this issue here, i won't pay attention to that. but obviously, the sooner the faster those processes evolve, the sooner the investigation process is over. the better would be the general operation of the system as well as for the investment climate in russia. when i feel family, we know that investment is streaming to various clot cetera of the russian economy like this of course, and it is sector. but not only that, you tell us what all the most promising sectors of the russian economy you think would be most exciting for the state. if at all, can you think of the projects that would be of interest in russia to the call to our businessman?

estimating that john scott is one of the largest invested in russia. yep. i've understood locksmith and approximately $12000000000.00 of investment, all kinds of infrastructure and the energy sector, russian companies that work and see regarding the confidence in the russian economy. we have confidence in the future of all investment and my job and we keep in touch with the relevant authorities in russia that a lot of money. we look for new opportunities for investment, russia, for russian companies. and i said in my earlier presentation, all investment in russia is going to double fuel appeal cfc.