ah, it's all had extremely inflammatory, makes to say the least and it's unclear if the shelling of the compound that i mentioned at the very beginning. we'll scare or we energize brazilian. want to be radicals. and that is it from this hour in about 30 minutes. i will be back with another full and fresh looks renews. this is our g and art international. ah, ah

ah ah, who blubber f v b dot r l a for those in our audience who aren't familiar with it?

could you please explain to us in layman's terms, what the surgeon is ation is, and what does it do? and we nero's ashley, but we're not a retail bank, but everything we do greatly impacts people's lives because all our projects can be categorized as supporting an oven agenda. this includes new housing, new medical facilities in new schools. it's an indispensable part of a modern urban environment. we have an urban electric vehicle project spearheaded by the chair of our supervisory council group. it'll kick off in at least 12 cities, even in the current circumstances. it was have a housing and utilities project to modernize the processes in that sector. why, for your organization, like the whole country has taken a hit, you personally have been affected, but let's talk about v b dot r f. where has all this caused the most damage in year as warden's was the most of the fact that our funds can't be transferred through the swift system, but we are prepared for it. we're using central bank channels and other means to support deals financially. of course we're hoping to enter the international market, especially within the e as g agenda, so we could finance rushes,

green projects with the limitations introduced in 2014. we thought we could get international loans in europe and asia with good interest rates to finance our green projects, to reduce the carbon footprint. now we know this liquidity channel is closed, but the liquidity channel through the government of the russian federation, is still open. and after the president announced the plans of social economic development, as well as support for the project finance factory, we can be sure that v b dot r f will have the capital and liquidity necessary for these processes to continue. it'll be room one, but in north south a gift the breadth of will you have to shut down some projects or on the contrary, take on new responsibilities and assume additional role. practicability is national . we have to continue supporting the projects in our portfolio. as for new initiatives, will maintain the agenda developed within our strategy. the strategy remains relevant. of the specific new projects that we started discussing will have to be re value in school, need to figure out what to finance 1st. now the significant limitations have been imposed. we'll have to see where we have the most potential you want,

but is india. mr. schuval of the president had said many times before that the west would impose sanctions on russia no matter what they just needed. a pretext. is this his way of saying that we should have been preparing for the sanctions? how were you preparing at v b dot rap that were you preparing? we're here. we're still in still a go. the 1st of all v beatle, tara, has been on the sanction since 2014. these were already significant limitations. we weren't on the sdn list or any similar lists that would have limited our activities severely soreness for the new wave of sanction was the v b dot or if was in good shape, we had a high capital adequacy ratio, opposing net balance liquidity. this supported of business portfolio for months. this is how we prepared by being in good condition. his like in sports, you have to always been great physical shape without any performance enhancing drugs. we were ready, we prepared for this as for making payments without using the swift system. we are ready for that as well because the central bank had prepared alternative methods for that in advance. journal chairmanship at the a c o. m. bricks were promoted, the payment system created by the russian central bank. when you got old, you know,

as though i told them she'd here. mr. revolve, let's look at the broader perspective. and please be honest, if we talk about the whole country, the 2014 sanctions and the sanctions. now, how different are things i'm talking about the whole country? she know the shirts, the work on, on the big difference economy is different. now compare a country in 282014 though the many years had passed since the crisis which had forced us to strengthen our economy. the country is becoming for more independence in 2014 and tons of its food security. technological security, in other respects, a lot has been done and now we know what we have to do. the country has to be 100 percent secure when it comes to technology, manufacturing, key products and food. this is our duty, it means they'll be several years of hard work ahead of us. we have to mobilize all our resources, put our mind to it, and of course, mobilize our finances in order to achieve that goal. president putin covered that in detail. recently explaining everything i support everything he said about our economy development plan going forward as either still from the least the but

should that some journalists did the calculations. and it turns out that our country is ahead of north korea and iran in the number than you may or wagner is not us, is the u. s. that's ahead of itself in making some decisions. we haven't signed up for any race. we didn't take a lead in any race, chest or not. so i'm sure that if i ask you whether or not wash it can handle this, you will say yes. yes. like he said, our economic model has started to change. what stage are we at now? mrs. peter dug up that singer that we are now the adaptation stage, but the solicitation must be accompanied by an understanding the rushes, future life with a new model of development. a model that involves a very high level, a model that involves a live, a model that involves a very high level of input substitution. it's not just about making essential products and technologies, but also about staying competitive and foreign markets. and since these sanctions of only just been introduced, were still going through the acute phase of adaptation. but i believe the 1st few days of the application went quite well. it was a heavy blow against russia, but our financial regulators made all the right choices when it comes to

restrictions, external debt payments, purchasing foreign currency, et cetera. we need a clear agenda, road map, it's been worked on right now. days ago, president putin spoke about basic infrastructure about housing, science and science also means education, including higher education. he also spoke about free enterprise, about liberalizing economic law. all these estimates make up a new agenda of development which will strengthen our economy. will you get one from an answer revolve every day? i hear the same question. just how long is this going to continue? would you mind sharing your own forecast? do you know here? and i don't do forecasts yet, should boy, then i'll be more specific. it seems to day that moscow is further than ever of from reaching any compromise with the west before it seemed that sanctions were tied to the issue of crimea. but now things have gone much further than that is russia going to stay forever burdened by the sanctions? could you give us your best and worst case scenarios going forward, union work from yesterday? i don't believe or should we make any predictions publicly. secondly,

i would like to organize a response on the assumption that we're facing the worst possible scenario. should things get a little easier than that would give us some wiggle room, but let's not law selves into full sense of security of best case scenario. we don't see much of those going forward. any development plan must be based on what we can do ourselves on whatever assistance we can receive from countries that haven't imposed any sanctions and a willing to work with russia. but in the jensen, i'm still curious about this worst case scenario. are people want to know what to expect? we're now in a tough situation, we're adapting to these harsh conditions which will take some time. again, most importantly, as we adapt to this, new situation must follow the development road map. when we've already launched projects to support this development, these range from household consumption of goods and services, the development of agriculture to helping retailers to urban development. we do the threat life in the cities better, more civilized, many, and how claiming that people get poorer, that life will be miserable, that things will start falling apart. but the present said this week that even under these conditions we have to fight poverty. that's an achievable goal, was to roll out our projects on mass. we'll step into

a new phase of phase when we build a robust economy and economy this on a whole new level. but before that happens, we have to go through the adaptation phase. i'm not urging people to tighten their belts or some like to say, there's a lot of hard work ahead of us know, slacking off this means we will learn to motivate ourselves, combine our efforts, and carry on towards the same goal. the goal of letting our country to do this, we have to say psychologically strong and healthy. this is the main line of attack of our adversaries. they are targeting or psychological health and wellbeing. while she was accumulated enough reserves less, some of them are not available to us at this moment. economy successfully passed several stress tests. these were not just the testers of my ability. they also made us take certain decisions in order to strengthen our economy system, which we've been in good shape before. we have to use the results that we've accumulated up to this point to get us into an even better shape. i'm confident this will happen. this is what the present spoke about and i support it. we shouldn't just dream of going back to living the same way we did yesterday before the sanctions. we have everything we need and the russian people deserve to live, at least at the same level as the average european family. our people have injured so much in the 20th and 20 for centuries,

woocommerce. it is so much wealth and we remain aware of our historic mission, our mission to remain russians. most importantly, we must respect our historical heritage. all of these gives us insights into our future, which is to be a strong sovereign nation, strong, not only in its military power, but also in its unity and the economic power of the average family, which means high level of consumption. this latter aspect is very important to me if we protect the sovereignty of our country, which in turn is based on peoples great political will. and on military might, every russian family must have an opportunity to live a decent life not to tighten their belts, but to consume or to develop to educate their children, receive medical care at the same level or better than an ordinary eve family recapture. you know, i was calling the chest, you said that some of the reserves are out of reach. now let me tell you this. over the past few years, we remembered that the government has undertaken numerous measures to secure russia's reserves. but now the finance ministry is reporting that almost half of them are now inaccessible. people that's roughly 300000000000

u. s. dollars. me now, how could we let that happen? related 0 mya se, managing reserves is complicated. sure. today we're on concrete side. the central bank and the finance ministry saying they should have protected the money, et cetera, trust me, it's not all that simple. creating wealth is hard and keeping it is even harder. what we see now is that our accumulated wealth, and that's not the wealth of some individuals, but the money that belongs to all russians. these reserves, the literally, economically the property of all russian people. we see it, they have been seized in order to make people's lives worse to so chaos among us to make our people resent the government or act against it in some way. why did this happen? because there are rules of asset management and what happens to us is we are being treated in the toughest way possible. i don't what either was economic warfare or the like freezing and, and seizing the assets of any control central bank is the toughest economic sanction you can take period. do this campaigning as russia are experiencing a massive attack on all the russian people. a wealth has been taken from us or nothing about yachts. plains are mansions. this was the accumulated wealth of our nation stored in the fall of our central banks reserves. as we go through the

period of adaptation, we must support our president, our government, and the central bank. if we do that, we'll recover from this difficult situation and our reserves will be released back to us at some point used for the development of our economy. i'm confident of that . i don't know how long it will take to the consciously imposed sanctions on us to make that decision. and i want to guess i'll make predictions, but it will happen at some point because that world belongs to the people not to the government or the businesses, but to all russians, the wishes dipping you. ah, ah l look forward to talking to you all. that technology should work for people. a robot must obey the orders given by human beings, except where such order that conflict with the 1st law show your identification. we

should be very careful about artificial intelligence. the point obviously is to great trust, rather than fear i would like to take on various jobs with artificial intelligence, real summoning with a robot must protect its own existence with oh, when i was showing wrong, when i just don't move to fill out, this thing becomes the advocate an engagement. it was betrayal. when so many find themselves well the part we choose to look for common ground.

ah. but i will, it saves me michel, revolver. i noticed the trouble look on your face when he said that the wealth had been taken away from russia and from ordinary people. let's imagine that the master on laskey swore on the way imagined with they're all on the imagined. there's no diplomatic. adequate protection. imagine you're looking at me and i'm some in congress man or an m p who adopted these sanctions or took away this well from russia. what would you say to that person? imagine that person slap sanctions on your institution to where you have more longer. i could say a lot of things, i know how not to minutes was but let's look up to the russian president of the role model. the president doesn't engage in name calling. unlike family does include the president of the united states use sharp language. i've never heard the russian president get personal, so i might have a lot to say,

but i wouldn't allow myself to do that. more importantly, the restrictive measures against russia will not help those countries get well, they won't back in 2014. i think i won't say that the devil for i'm afraid that came to hold me off to those who impose sanctions and not aware of the russian character. more pressure we face from the outside. the more united we will do is we see fit will sorted out ourselves at home. we do not need any lectures will help by taking way won't belong to us. most importantly, you cannot treat russians like this dialogue is the only option. never get of books then it's not good for the future. they just need a lesson in history. first of all, no one has ever done or just read the history of the 20th century. they probably have a feeling that they will succeed in the 21st century. i don't believe it. i believe it will go through a major transition. i've repeatedly told my coworker that this transition should be over within a few years. i didn't take it from any books. this is my vision of history of modern history. gorbachev embarked on this transition and he was of the traitor yelton continued. he was called a traitor to today, the west called president putin override of names. just like some of our fellow

citizens put in is dealing with the hardest part of the transition. i believe at the end of this transition will not the completion of an arduous transformation that's lasted more than a 100 years. and we deserve to put all these charles behind us. we deserve a country strong economically, and that would enable us to make our children happy in the usa. she won't, but i have read on our rather as a whole ecosystem or you're in charge of quite a few organizations or the summer. lie heavily on direct cooperation with the west mine if some support exports. for example, the russian export centric the future of russian experts though, is now uncertain. what about these different activities? finance? so we did that in all the areas of the younger system will continue to grow. we'll manage, we're managing the process building a partnership with a supply chain element supports each other and interconnected from innovations to s . m. e 's. we're waiting for new decisions from the government that will enable us to move away from a top down arrangement towards a peer to peer architecture. we're employing the latest management techniques we're studying them when learning quite a lot. speaking of exports in other organizations,

it's true. the sanctions have been imposed on the russian export center, yet there are still quite a lot of organizations in the world involved in international trade. so have many countries that chose not to impose any sanctions on russia, and they are ready and will continue to do business with the russian export center without any restrictions. as for those parties that support and promote sanctions, even if they don't impose themselves, they don't seem to be ready to accept any goods or supply opportunities we're offering for their development. so far we see the opposite tendency on the rise. they impose limits on the good supply promotion, and these are the goods. these parties need to support their technology development process or to ensure food safety. but we're no longer a most favored nation, for them is a different kind of trade. now. moreover, some countries already stripped russia of their m f. n designation or are considering doing so. even the world trade organization is discussing, removing rushes, trade privileges, but i can show you there are a lot of parton's out there who are ready to work with both the russian export center and v b dot r f and other organizations that are part of our ecosystem as yeah, i didn't,

i was wondering since there seems to be an effort underway to try to cut off rushes, access to technological advances. what are we to expect in the future in this sector? and we can expect quite a lot. in fact, we can expect rushes on technologies developing as well as great r and d education projects, including school technology institutes and others. for example, sculpting the scope of institute of science and technology is a very interesting project of ours. these institutions and testing ground that makes breakthrough technologies possible, or a total of $30.00 to $40.00 such top not tech schools in russia including sculpt, take this thought off of the partnership project with mit. but that's been called off recently. it's in our best interest to have new technologies develop that can be of interest to the cities, to the state rosters republic, some regions of private investors. but to achieve that goal, technologies need to be consumed. we have to set up production lines and to make sure that new products are in demand on the market as what we do. that's our bread and butter. i don't favor one type of product over another. however, i cheer for both small and medium sized restaurant in hotel businesses and high tech production, ultra precision manufacturing lines. the country's economy needs an entire range of

business opportunities from small businesses to take giant. just merely to me on and why were you surprised by so many western companies withdrawing from russia in protest? and some of said, this occasion has brought a lot of international businesses together. the acted like a united front, a you, what do you mean? a lot of you store it or would it the i didn't know is the scale of the move and how fast it's been implemented. it's been a very efficient move. the 1st thing i thought was it would be good for us to use the same kind of technology in the future. some of our goals and issues. what do you mean? normally, i mean a reverse application of technology. for example, when we might need large number of companies to enter some market, we've been discussing prospects of developing crimea economy, where v b dot r f is to launch the factory. it's project finance mechanism for investment projects. and i got to thinking that it would be great to have russia's best companies into crimea or elsewhere, depending on the project in a single, large scale move and an organized fashion. similar to the way the international companies moved out of russia. there's always a way for a reverse application. indeed, it came as a surprise,

how fast and organized this withdrawal has been. but as the saying goes, nature pause. a vacuum of businesses will continue to run. either the investors will return and resume operations or expecting a law to be passed to address this, i do not know what form the law will take. that is for the government to decide. the government talks about versions of this bill with united russia, with the parliament. from what i understand, the priority at the moment is for companies to work. no one intends to seize property from investors. in his speech, the president said that we will act civilized and protect property rights. most important thing for us is to keep a company from closing. because even if a company pay salaries in full or pays $2.00 thirds, but their doors are closed, it means that those in the supply chain are also forced to shut down their businesses because no one buys from them. the mechanism will be defined in the law . there is no law yet was being discussed now as possible solutions. what has to be said is the presidents and very positive signal by for investors and a domestic market that will protect property rights. and that this law that will be adopted, she give an option to find a mechanism to get enterprises to work if they sit idle, longish, double proprieties. girl, why was it necessary to send such a signal? your b?

i will explain her because the decision to leave the market is rather politically motivated. even the companies themselves say that they either have to close because the supply chain that disrupted, or they're on the pressure from the governments or they're on the pressure from consumers. in other countries, if it's a multinational corporation and that's fine and all, we understand why they're closing down, but we cannot put up with it because we need to secure a market. for example, there are food outlets, mcdonald's and k, of said a train station, but they're closed. and representatives of these companies argue, well, we pay the rent. what exactly is the problem? but the direct ro manage of the station of their cold will say to that, you know, we provide a comprehensive service of the highest landed passengers who spend time at the station waiting for that train or meeting someone. she can't be here and not provide a catering service. if you're a catering facility, nobody is kicking out these investors. they should make these decisions for themselves. one of the legal formulas that could be used is trust management as defined by the civil code. this, the different institution for the institution of trust management could be used when enterprise operates on the certain rules and mechanisms to ensure that

investors investments do not lose value. the staff is retained wages paid. no co operative ties maintain. maybe they can even pay dividends. so special account for example, but the enterprise has to keep working model up with nice pro with formal. yeah. can you please answer a question posed by our viewers? can the situation repeat what happened back in 1998? frankly, it's a question that everyone keeps asking them, even if some of these people weren't even born at the time. and others were small kids, not even in school, yet. i personally remembered that the russian rouble depreciated 4 times against thee was dollars. can you answer the simple question? are we going back to 1998 with more? no, it won't be like 998 because it's is no longer in 1998. i don't know what it will be like we have to keep working north of the best possible scenario. we have to stop being afraid and stop scaring others all the fear that enough spreading around them from people's refusal to accept the current situation. when a very tough situation right now, and it will develop further, it can go in

a direction where the russian economy and peoples in comes will shrink creating new challenges as it progresses. but it can also develop in a different way. in that scenario, that taishan period can be shorter than the economy will get back on track and start growing. and it's all d to, to achieve that. the situation of 1998 won't be repeated. this country is no longer in 90. 9 it back then, it was an entirely different economy is economic capacity was different. if you live in russia and spend roubles, and if you don't have enough money to put aside, i believe there's no point in being concerned about exchange rates. and to just spend your roubles in the foster around spare your nerves, people have the opportunity to save and want to do this, have an array of options to pick from. what i'm going to say is not meant that investments advice nike recently disdain responsibility for any actions resulting from this. but i believe that the security market will most likely of good investment opportunities, given the company's value, their market capitalization is expected to drop. so i think it would be wise to keep part of your savings in roubles and also invest in blue chips securities with us next year. but again, ms. law, do you agree with those experts?

we insist that the current level of pressure, driven by the sanctions is already reflected him. the exchange rate we have now i would say that the russian roubles value reflects the level of pressure, primarily political, psychological pressure we're witnessing today. but if you look at the capital flow and trade surplus, it becomes clear the current exchange rate is not based on any real macroeconomic trends and indicators the room value shouldn't be much higher under the circumstance. our it was that the mrs. valez. yes, this week we saw reports saying the russian finance ministry finally made some of the interest payments on its foreign currency, sovereign debt following the west decision to unfreeze on my part of the russian forks reserves, so that russia could repay its debt. one of the spooky last words to day is default, or am i right in saying that we have managed to avoid default or, or was it a one off event, so to speak. with that also accesible, we don't have any problems with the repaying or external dance and the russian

governance position, the sovereign that has to be paid from the frozen or blocked us. this is very reasonable. pulled almost at bab when times are tough to say the least. the crisis is a window for breakthroughs in opportunities. it's hard to deny that the russian businesses have now been, shall we say carpet bombed as you have a reputation of an anti crisis manager. what would you say now if you were to meet russian business people face to face? and so, and 1st of all, let's focus on as m e 's. what would be your advice to such people in these difficult time? so i just learned from the mom of a new business, if we should reach out to everyone, we can help with big government programs, social support, they're being rolled out and support for our businesses as for the new opportunities emerging in a crisis. it is when this entrepreneur witnesses the rapid collapse of other businesses all around him, but knows it's the right time for him because he has the right mentality, the right team and knows that the and the will believe him. such people will be the winners. a crisis is difficult, time is a challenge for some an opportunity for others,

but i wouldn't say there is more challenge or more opportunity out there is exactly 5050. i with the opportunities that those mean on better a was other people focus more on difficulties, fears and challenges. now we need to work as a team. now help each other and to stick together. i should help those who think negative. those who think negative should probably keep my excessive optimism in check and share some alternative ideas and visions and market opportunities with me all in all. there is no way out but to move forward for, for his bethany. yeah. was us little still when you become pregnant also that okay, i know you don't like for casters still though we would really appreciate your expert opinion, but what is your take on projections of an 8 percent decline in russia's d d p this year and inflation soaring as high as 20 percent with a deeper than it was me. let's take the 2009 figures. our g d. p was down 8 percent . we witnessed high inflation, high budget expenditures, but in just 2 or 3 years, the situation was completely different. there is no need to despair. the decline could be 8 percent or 4 percent, or more than a percent. there will be

a drop. that's the only thing we know for sure. but what's keys to ensure the best possible exit from the downward facing? as we had that, we have to learn how to kickstart processes, which will pull the economy through this trial and into a growth phase which cham written so that we're agree that it will be like 2009 or something about the world. no, i do not know for sure. i don't want to pass any judgment. it all depends on how fast we take action. instead of 9, we did not enjoy such a technology of great speed of information exchange things at different now than they were in the 2000. and 9 is true. there weren't that many restrictions, all that much pressure from the sanctions, but the markets were virtually shut down because the whole world was struggling with very severe economic restrictions. we've now entered a phase of economic restrictions due to political reasons. hibler law and keyboarding party thought that what is scarier and more painful for russian talk manager, public official need, personal sanctions, or those against the organizations they manage about any thank there. it both the bad. in the case of personal sanctions, it's not really about losing something right now. the main restriction for

a freedom loving person is the travel band. many countries about entry. this is a restriction, a real one, the restriction of freedom. this is not good. the restriction for an organization is a ban on borrowings that are needed to invest in its growth. that's the limitation is really bad. you cannot say which is more important here. in general, any restriction of freedom is bad and most importantly, these restrictions are illegal. i hope that while i'm still live, oh, see another phase in the evolution of international law. when no one will be able to violate international rules of conduct set forth by the united nations charter or all the international legal documents. today, disenfranchisement appears to be the new international law and order for def, while sanctions have been imposed against you personally, but could you please share how it has affected you and your family was emerged in the 4th to me. as i said, the most important thing they've taken away is free travel, but it's a great motivation to know your country better. i guess have been everywhere in russia, but it's such a vast territory that one life is not enough to get to know the places. most importantly,

you should remain responsible for the calls that had been entrusted for you. and there are no limits to what you can do. that's what matters. i could only wish you one thing, believe in each other, support each other. good luck is with us. we will prevail watches on. ah, for is your media reflection of reality in the world transformed what will make you feel safer? isolation for community. are you going the right way? where are you being led? which direct? what is true? what is faith? in the world corrupted, you need to descend a join us in the depths or remain in the

shallows. ah, ukraine refuses to accept the russians plan for evacuating civilians from mario paul, where an estimated 130000 people remain stuck amid intensive fighting. this is my vest, michaela i'm, i'm not going to be wearing it because it's hard to sleep. instead. i think it's gonna serve as a well more or less suitable pillow party reports from the outskirts of cheer where russian and ukrainian forces are getting ready for a fight. farmers truckers and trade unions to take to the streets of europe to protest against storing prices. due to sanctions imposed on russia over the ukraine conflict and r t obtains evidence that the u. s. was pushing ukraine to lower rush

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