for me, oh, i can say is russia's gothic sports to europe should now be paid for it. we're both aiming to stabilize the currency ball, ditching the us dollar. international trading company has the cx 5 decided to implement the sets of measures in the shortest possible time to transfer payment from natural gas supplied to unfriendly countries into russian roubles and ukraine . russian lead done. yes, we're public forces they. they've taken control of more than half of them back in the city of mario poll. i'm it intense fine. think that's included. rates of pavilion building to 3 part ukrainian troops hiding inside and washington sets up pressure on china to join the us led condemnation of russia with aging standing firm on its neutral storms despite the american functions against

chinese economy. ah, i will welcome your watching asi international with the latest news update. thanks for joining us this hour. let's start with the latest from ukraine. russian led forces pushing deeper into the key port city of mario pole, which has been seeing some of the heaviest battles of the conflicts. his troops, including the notorious, neo nazi as of battalion or refusing to give up even a single building without a fight. the onslaught has already led to was being called a humanitarian disaster in the city. you might find them the following images upsetting thousands of civilians remain trapped inside mario pole without access to clean water, fresh food or electricity. the russian military has been busy trying to get more

monetary and supplies handed out to the locals. don, yes, republic trips on the front lines clearing out civilian buildings used by ukrainian forces as bases. some locals are still hiding in basements to escape the violence. as many have been blocked from fleeing the city to humanitarian corridors opened up by russia. some residents who half managed to escape speak of atrocities, allegedly committed by ukrainian troops. oh, i will be here to food you must you or did i? but i did hear the still alley nation. national solemnity not grindsley g who are difficult really. levels was minimize the route. what do the well, what, what is it? but it's important with new fuel, with his thumb, looked before what the show up thought you feel grandma walker through obama wardrobe. you, let's put some who's could soon put some to this group. now we will struggle really, how long is that? what we're going to let you, maria, will you,

via ftp 230 with already are. i'm usually vide yahoo. you fear to work with them with intuitive will be the period on, you know, who don't we do you, do you, barbara? you do the people who don't with me while russia continues to talk it ukraine's military infrastructure throughout the country. as part of a stated goal to demilitarised, the state rushes defense ministry has released fresh voltage of some of its high position weapons being fired away, including caliber cruise missiles launch from a russian navy ship. that's an undisclosed location. thus, they've shown pictures of bassetti and posted defense mis sounds being fired. also said to be targeting ukrainian military sites. russian president vladimir putin has announced that european payments for russian gas will now be accepted only in roubles movie, as it is showing of. so i have decided to influence

a sets of measures in the shortest possible time to transfer payment for a natural gas supply. it's unfriendly countries into russian roubles that is to abandon the use of all compromise currencies. at the same time, i would like to emphasize separately, the russia will continue to supply guess in accordance with the volumes and pricing principles indicated in the previously concluded contracts. unlike some colleagues, we value a business reputation as a reliable partner in supply. russian president vladimir putin has essentially ordered all payments for russian natural gas being shipped to what he called unfriendly countries to be made in the russian rouble in the past. payments for russia, natural gas have overwhelmingly been made in us dollars. but with the recent unprecedented level of sanctions that russia had to contend with, this can really be considered part of moscow's response to all that putin specifically mentioned that overall trust and foreign currencies had fallen specifically after a number of countries had illegitimately frozen rushes overseas assets as it was

lea musical, if needed, over the past few weeks, the number of western countries have taken illegitimate decisions on the so called freezing of russian assets. the collective west is essentially ended, the reliability of its currencies crossed out the trust in these currencies. now everyone in the world knows as they suspected, and now everyone knows for sure that obligations in dollars and euro may not be fulfilled. to be honest, in comparison to what russia could have done, basically turning off the natural gas taps in europe, the decision it decided to take is actually quite reserved. and it's also having the double effect of actually strengthening the russian rubel, which significantly depreciated and in value of course, in relation to the dollar and the euro. and the pound after the sanctions that i mentioned earlier were taken and leveled against russia. but immediately after the moscow stock exchange opened up today, the price of the dollar fell to under $100.00 rubles, that for the 1st time since march, 3rd, after all of this, this,

these sanctions were leveled against russia and the russian military offensive. and i also have to mentioned that european gas prices are now rising at around 10 percent. they're already around the price of $1300.00 per 1000 cubic meters of natural gas in europe. so this is just actually the beginning really, i mean, president just made those statements a couple hours ago and we still have yet to see what is actually going to come in the future. maybe even today and over the next week, more countries are now moving to d dollar rise. the international trade in best gas and oil sector, sparking global revision if the so called petro dollars system as a result of western sanctions against russia. a ticking time bomb and a u. s. dollar reserve currency status. entry rushes sanctions seem to backfire prompting the entire will to reconsider the financial policies ban on dollar bank notes exposed to russia. freezing its foreign exchange reserves. the u. s. is

witnessing its currency and many a wondering if they might be targeted next. but what makes a dollar so special? why does nearly every central bank in the world stockpile the u. s. currency and invest in american bonds? the dollar has been preserving at status for decades, and the secret ingredient is oil. a quick dive into history. back in 1974. saudi arabia was the world's biggest oil producer. and it just shaken the western world with a major oil embargo, a punishment for supporting israel. in the yom kippur wall. the u. s. was an important 70 percent of its oil, and the embargo hit it hard to got themselves against the possible oil shocks of the future. the nixon administration offered the saudis of deals, the u. s. agree to supply the saudis with military aid and equipment. in exchange,

saudi arabia agreed to accept the dollar as a de facto means of exchange in the oil market. from that moment, every oil contract with saudi arabia had to be priced in the us currency. the rest of the opec countries followed suit. the patriot on a system was born. imagine a chocolate pie in a room full of hungry people. if one wants to grab a bite, that you may only use a plastic spoon, no steel or wood, and allowed convertible spoons in exchange office, pallet more for the future. sounds unreasonable. let's kind of want to petra dollar is like from 1974. the high a world has been paying for oil in the u. s. dollars, no gold saudi real or any other national currency allowed to buy an oil important country miss. first convert its national currency into u. s. dollars. ties to the world's most sought after commodity. immediately booster

demand for the u. s. currency. oil importing countries began piling up dollar reserves to minimize currency volatility risks in the future. oil purchases, oil exporters, started investing their dollars surplus back into the american economy. purchasing bonds and treasury balls. this enormous interest in the u. s. currency raised it to a unique position. the demand is so high that the u. s. can print as many dollars and donald denominated bonds as it needs to finance it's external debt. if any other country tries to do the same, it will immediately face rising inflation. in the case of a us, people will buy dollars anyway. for decades, the dollar enjoyed its unique status. with the tacit consent of the world, its value remained relatively stable because the u. s. economy has been growing

steadily unaffected by the turmoil in other parts of the world. oil prices denominated in a stable currency for their part to creased fluctuations in the market. the rising powers, like china and anti american governments like venezuela urged to review the petro dollars system. but the de dollarization was limited to a number of symbolic moves up until now and parallel and to russia. sanctions shocked the government officials way beyond russia's borders. india, china, and even saudi arabia are now giving a 2nd thought to deep dollarization initiatives. you on jumps after report on saudi's wing it's use in oil deals. india rapport really explores you on in oil trade with russia and frustration grows over us sanctions. does this mean the end of the us dollar? not yet. over the years the central banks all over the world have accumulated to many dollars and dollar denominated bonds. should they get rid of them all at once?

the entire finance system will collapse. but trust in the dollars stabilizing role in the economy has been severely undermined. the competition from u. n. is now tougher than ever unless the u. s. find something else too often. it may end up with solving inflation and trillions of dollars that nobody once coming up later. so we look at how one of the world's biggest oil export is saudi arabia is looking to ditch the u. s. sola and it's trade deal despite close ties to washington. following supplies from russia and cars extend to european markets have also taken a hit off to a storm damage to vital equipment to the black sea oil transfer terminal transfer

terminal. we facility is a key hub in the caspian pipeline, which transpose massive volumes of oil company in charge of the site phase repairs could take weeks with oil outputs expected to drop significantly. authority say none of the oil is leaked into the black sea, the pipeline console him c o say is the repair process is being hampered by the refusal of some western companies who provide assistance though it in the since the last on the soonest, the did the oh, flawed in a foil of the marines. harmony has been completely stopped. what are treatment plans have been commissioned as we have identified the damage? we have to conduct a full examination, but our drivers are unable to do this due to the weather conditions. the repairs are a labor intensive and high tech process. we need a tanker to flush the lines without which we cannot start repairs. because there is no confirmation from our foreign partners. about the shipment of tankers. the repairs will take at least 3 weeks. if we had continued to operate the terminal,

the threats of a ecology of the black sea would have been critical of us. but since we identified the problem in time, the damage has not been done. and we have faced an unfair attitude from our foreign partners. the supply of the necessary spare parts has been denied. foreign companies have officially informed us that they refused to cooperate as little russian deputy prime minister alexander ny vaccines. moscow as closely monitoring their pass that the incident does mean that oil exports will be drastically reduced for weeks venture because it is new to his thoughts, it's only in the road. this is a serious negative situation for the global markets as a whole, because a large volume of oil was transported to wild markets through this terminal. from our site, we're monitoring the situation and along with federal and regional authorities and the energy ministry and doing everything to repair the damage as soon as possible for some time perhaps for 6 weeks. supplies through this pipeline will either be

reduced 4 or 5 fold all completely stopped. for me, a k prime minister gordon brown is calling for the creation of a new international tribunal to investigate the russian president and those who helped planned the military operation in ukraine. clearly one of the options is for ukraine to say that if there is peace, then they withdraw this demand that present put and be brought on trial. but until that happens, and if that happens, of course, we would have to look at it. i think we should persist in our demand that he be brought to trial. innocent people, children, mothers, are been terrorized bodies lying on the street. in mariposa, people not getting medical treatment. these are international crimes and they are crimes against humanity. but in this case, they are also the crime of aggression. $140.00 people in total, including former prime ministers as well as scientists, lawyers,

and other politicians have signed a petition to create a judicial body modeled on the nuremberg trials with german leaders after world war 2 and almost one and a half 1000000 people out of a targeted to 1000000 have already signed a public petition saying the russian president has committed the quote supreme international crime, and also called for a special tribunal for pearson. however, some critics have pointed out that double standards in the british politicians on separate britons own track record the 2003 invasion of iraq and official u. k. inquiry known as the chill coach report found the british interests were not under threats when london moved on the us leadership to launch a devastating attack on iraq. former indian foreign secretary con, wants to balance. it isn't clear what exactly they were trying to quit is politicians are expecting to achieve with their petition i think with. ready only in the 19th century, they think they are still fighting sawdust. i was usually amused when the russian,

when the british and defense secretary spoke to a group of british military officers, reminding them how their best is russia in the war. how they had a legal, this one and they're gonna do it again. but they're still doing is a great game going on in century. i mean, why, why should one, dig sacramento by gordon brown or any british politician? seriously, they don't rule the world no longer the british empire are no longer even in the you in order to muster the support within the you and i think for such a folly, even if there was again signatures, you're going to get those kind of signatures. if you republic street passions on, on any i think is astonishing at the level at which

diplomatic discourse and diplomatic positions have descended to with the president biden calling, who was criminal on one of the basis that he had invaded you. and then those who invaded are going to be gone this and they also, what washington has stepped top is pressure on china to condemn and sanction russia. however, beijing is optimal. it will maintain neutrality with single post foreign minister. i think the u. s. cannot stop the new multi polar world. china is already on the wrong side of history when it comes to ukraine and the aggression being committed by russia. contrasting views between china and the u. s. threatened to inadvertently complicate already fraud ties. america's different approach to the war in ukraine is the latest complication. the old cold war strategy of containment will not be viable in this emerging multi polar world. just by those comments from

singapore, the us isn't backing down in trying to influence china stance on russia going so far as to threaten sanctions against staging high tech economy. his pul, asleep with more, washington is added again. this time pressuring basing to play by its rules and condemn russia's actions in ukraine. if china's semiconductor manufacturing international corp sells its chips to russia, we could essentially shut s, m i c down because we prevent them from using our equipment and our software facing will have none of it and refuses to give into intimidation. china will never accept any external coercion or pressure and opposes any unfounded accusations and suspicions against china don't be naive condemnation. it sounds naive to say that's not as a vision and that doesn't solve the problem. but is it really all about ukraine unlikely? the bigger goal seems to be washington's desire to break up the strong relationship between moscow and beijing. one example,

last year the russian and chinese foreign ministers agreed there was more than one model of democracy. and that interfering in the internal affairs of a sovereign state under the pretext of quote promoting democracy is simply unacceptable mineral. ready the united states forces other countries to accept american democratic standards shall draw lines based on democratic values in cobbled together small groups. this is a complete betrayal of democracy, left all men to lever the rule of law is not something monopolized by a small number of countries or global international legislation should involve all countries with equal participation. you hold the rules of individual countries should not be regarded as international rules either nor the standards of individual countries be taken as international standards and finding its not winning china over with the ukraine issue. the us needs to find another excuse for sanctions. how convenient the state department is now targeting chinese officials for cracking down on religious minorities. beijing's response is or to clear move

on the show me the u. s. statement is full of ideological bias and political lies, lines and smears china and wantonly imposed restrictions on chinese officials off of what were you as actions contravene the international law and basic norms governing international relations and grossly interferes in china's internal affairs strong. and as the chinese foreign ministry point south, the u. s. itself is no champion of human rights. do you show you on the bullet throughout history? to me, the u. s. slaughter yelled, expelled and assimilated native americans physically, your geographically and culturally uncle, of committing systemic human rights abuses in every aspect. huge, these abhorrent crimes are more than enough to constitute de facto genocide, vitality in its effort to drive a wedge between china and russia. the u. s that seems will go to any lengths just so long as it doesn't have a strong enough opponent in the east. well, i think the u. s. is completely ignoring the fact it is human rights problems are

arguably more severe than the countries that the u. s. has been sensually her look at at death fades of the black people q by the u. s. bullets and the u. s. has engaged in huge this formation campaign to demonize is adversary's if china sanctioned russia. the results are catastrophic, not only dead to peoples of both russia and china suffer from higher prices and to lack of goose and puts in its cornering show as shown nuclear power. i don't think anyone want to see things even more dramatic to happen. increasingly, many analysts realize that any security solutions in the region we've got the involvement, all russia we're bit is foster. china is on the side of humanity. in general. i think it is what the right side of his tree and tails and washington's traditional middle east allies are also unhappy with the u. s. attempts to control global oil supply. some of the world's biggest crude export is, are increasingly,

was this thing america. and looking to bypass the use of the dollar in their trade ortiz, rachel blevins explains after years of involvement in the middle east, the u, as now appears to be losing his grasp on some of the closest allies in the region on one major area energy. the vine administration has been much calling on the opec close alliance. you increase production by more than land in order to tackle storing energy prices. but they have repeatedly said no. now the king of the credit card tell, and one of the top oil producers in the world, saudi arabia is responding to the latest tensions by strengthening its ties with china. while it is currently beijing, the largest oil suppliers. saudi arabia is reportedly considering accepting the chinese you on for oil self instead of the us dollar. now this idea has been around for years, but it could soon become a reality, and it stands to threaten the u. s. dollars dominance as the world reserve currency

. so why would saudi arabia consider a move like this right now? well, they're not too happy with the u. s. and west year now lives for him, posing unprecedented sanctions against russia, which just happens to be one of their most important opec plus allies. they're also watching countries like china and india actively looking for ways to work around those things, which means moving away from the us dollar. but while the us in saudi arabia have maintained in alliance on the surface, they're also competitors when it comes to oil production. and the saudi, they're finding out just how much power they have right now. unlike the government of nearly every other major oil producing country, including saudi arabia and the other opec states, the u. s. government cannot open and close its own oil taps. it cannot compel oil companies to drill more. so when the war sent oil prices storing, the government was powerless to bring them down. this they, us, all additions are not too happy about saudi arabia having the upper hand on this

one would be an understatement. i hate the fact that we have to ask the saudis to produce more oil. i hate that the bite and administration has to figure out how to leverage our relationship with saudi arabia to get them to do that so that my constituents aren't being squeezed at the pump. however, the white house denies that the audience have turned their back on washington after reports that the kingdom was denying, call for president, bite it. the president spoke with king solomon on february 9th, in that call. they set forth an affirmative bilateral agenda from climate to security, to energy cooperation. since that important call, our teams have been engaged at every level. there have been no discussions of subsequent calls at the presidents level given this regular and ongoing engagement . but it's not just saudi arabia that the u. s. appears to be losing its influence over the u. a has all their reportedly declined, biden's call. and instead of turning to the u. s. for support. well,

they're turning to a leader that the u. s. has been years trying to overthrow. that's right. this week officials host is syrian president bashar assad and his 1st visit to the country since 2011. and that's how the se, the u. s. hasn't tried to use the current tension through their boards even noting that the vitamin ministration sent a new batch of weapons to saudi arabia after denying them last year. all thought area continues increases dominance, as it moves away from the us. they are showing that they can live without america, but can the current american economy live without them in washington? rachel blevins are g. let's return now to our top story. they saw the being president puting saying rushes gas exposed to europe should not be paid for in roubles. well, let's cost life to an expert. now get a better handle on what this all means. we should vote a banking and development economists. thank you very much for joining us on the program. i never should. what are the consequences of moscow being paid for gas in

rubles? it's an interesting choice. it's one thing for moscow to say we will pay our foreign debt in roubles. but actually for moscow to say, oh, you can pay our exports in the and gas commodities. exports in roubles is, is quite interesting, is a small move because it creates a stronger market for ruble. suddenly, the, the west will need roubles. you see if to understand that since 1971, we've had the petro dollar standard. so the, the, the us dollar was based on oil. the problem situation was originally that america had to trade deficit with germany and japan and couldn't sell enough to these countries that it figured well what these countries need is oil. so we're going to go to saudi arabia and make a deal with saudi arabia, that they will only sell their oil in dollars. suddenly germany and japan need us

dollars and there for where the u. s. was able to buy anything from germany and japan, give them the dollars, just have this debt. and they can use because they wanted the dollars to buy or so it's a very small move now by president putin, to create demand for the ruble. because if the west suddenly needs rouble to pay for this, this is exactly what america did in 1971. and so i think it's a clever move makes sense. and how much do you think it will help rushes economy currency? well, it's mainly aimed at stabilizing the currency, which is exactly what the us did in $71.00 because essentially they printed dollar like crazy. and. ready late sixties and the dollar was beginning to weaken. europe, particular france was asking for gold instead of dollars from america to convert at the us dollar, which was convertible to go to gold and the americans didn't like that. and they

suspended compatibility. and then the dollar crash, and this was the measure to stabilize it. so what we saw, of course, recently is that the russian rouble collapse almost topped in value. and it has stabilized a little bit since then come back a bit, but this measure essentially coping what america did, 971 to stabilize the us. and i think it can be very effective because at the moment the world still needs russian gas control. you know, various commodities and russia has these and is selling them and there is a world market. there is demand for this. and europe in america also needs and of course in asia risk, they also need it. so suddenly that would be demand for the ruble. the ruble price would actually like to go up. this movie is being called counter sanctions against the us. would you say that's accurate? and no, i think i think of it, it is best to compare it with what america day went to realize. this is exactly

what the united states of america did in 971 and has been doing ever since. you could even say that the entire middle east and policy, the u. s. has been running with there. it was in the middle east has been aimed at maintaining this petro dollar because these are oil. was there about maintaining this dollar standard? when sadam hussein said we're going to sell our oil against the euro, the americans didn't like it. and so it's that same as soon gone when cut off, he said we're going to sell this oil for euro's the americans didn't like it soon cuz that was dead. so it is a strong measure. the americans have been running that policy. and therefore, it's an american policy, it's, it's essentially an american, a commodity and sort of fuel policy that supports a currency. so it's, it's quite sensible for russia to also introduce that policy or to when

a banking and development economist, thank you very much for your time and sharing your insights on this with us. you're welcome. ah, and moscow said, it's a shame that the international chess federation has suspended russian grand master cardiac in from competing in their events. that's his support for moscow's operation in ukraine. the 6 months suspension was announced off the cutting consent, an open letter to president putin voicing his support for russia's actions. but the international chess federation claims that such rhetoric is damaging for the reputation of the sport nicknames, the minister of defense kelly i can became, became the youngest ever grown, lost at the age of 12 and went on to win the chest world cup in 2015 he's also become the champion of several key international competitions over the years. cardiac and says he remains committed to his supportive rushes moves in ukraine despite his suspension from global chess. when you 1st of all, that was even if it's not just 6 months.