station let it be an arms race is often very dramatic. that development only personally, i'm going to resist. i don't see how that strategy will be successfully, very critical. i'm time to sit down and talk with after to us bank collapse over the weekend. the new york stock exchange all the grading and a handful of banks, docs that are crashing while president bite. it tries to calm the waters, assuring americans that their money is, say, russia agrees to extend the blacks the grandiose for 60 days, which was set to expire this saturday, but says the west needs to approve. it's ready to hold up. is that the agreement with you 8, tells the u. k to tome down it's complaint about human rights abuses?

if one that wants to make big money deals in the region, ah, coming to you live from the russian capital. this is our t international. i'm rachel blevins here with the top stories of the our welcome to the program. following the silicon valley bank collapse that's dominating financial headlines, contagion, fear spread shares and a number of banks crash and how they're trading halted on the new york stock exchange. those effect it include trolls swap western alliance and 1st alliance 1st republic bank and the number of others. the crash is occurring while president biden sought to reassure americans that their money is safe, but refuse to engage with journalists after he delivered his statement. all customers who had deposits and these banks can rest assured, i want to rest assured they'll be protected and they'll have access to their money

. as of today, that includes small businesses across the country, the bank there, and need to make payroll pay their bills and stay open for business. no losses, and i want this is important point no losses will be borne by tax payers. let me repeat that no losses will be borne by the taxpayers. mister president, what do you know right now about why it does happen? and can you assure americans that there won't be a ripple a past? due balance of evidence should all the positives be protected at all bank? or my colleague, worry to shake, spoke with rti contributor chris and earlier who took us to the situation and what it could mean for the global economy. silicon valley bank, i don't think anyone had really heard of it outside of the tech industry until friday. really been with this news break. lot of people just to explain the views at home. most of us know how buying support, but some people are a bit unsure. so what happens is when you deposit in the money with your bank,

your banks use your money to lend throughout the customer. and that could be big institutions, companies or just people like you and i that may want to buy a home and get a mortgage. and now the problem with this bank is they had over $250000000000.00 on their balance sheet. so they'd actually lend out $249000000000.00. so that doesn't really leave that much of a cushion, right? that say if something happens. so what happens the u. s. high interest rates as we've covered a lot on the program. and that obviously makes the debt that they're holding on their balance sheet, which was a lot of it within us government bonds worth less. so this is a really key point to talk about the interest rates for the rest of the key and critical point. yeah. yeah, so as those interest rates rocketed the, the debt that they have, they have lent to the u. s. government becomes less. right. so that left this bank with a deficit on their balance sheet of about a $1000000000.00. now once that happened, the bank bid exactly what the guidelines say, i would say the ceo acts the same way. he said, well, i need to go and raise that $1000000000.00 now to make sure that my bank is in the

block now will happen when he did that, that spooked a huge amount of people. a lot of money in the bank companies, mainly who then there was a what, what we could have run on the bank. so about $13000000000.00 which was withdrawn from the bank reading. and at that point the bank was totally broke. right? so then the regulates and the government have to step in and take over. now what i find really interesting glory is that they portrayed to be the leadership team of the bank as irresponsible. we had all this talk just before the weekend and over the weekend. they will be responsive, they will be now i've worked for a number of a regulated financial businesses. i wouldn't say my next, but i'm not just you know, disclaimer, i'm not a finance lawyer, but i would say i don't see anything within the guidelines that they did that was fiscal years on. so i would say the fiscal responsibility lies with the regulator and ultimately with the u. s. governor, i ha, well ok, so you bring it to the u. s. government let, let, let's bring it further into washington. d. c. here. joe biden has come up with a statement addressing that public essentially saying nothing to see here,

move along, your money is safe but, but then, you know, when people wanna ask questions, i mean the guide legged it out the back door just now. i mean, is it possible that biden, in some way, is trying to avoid what could be a dire truth or yeah, i mean, i think he just doesn't have a clue right. having with you and i were just laughing as he walked out of that door. it's just a poorly read all time she had ending at any answers for it. i don't think anyone really knows what's going on and really beg, suspend. it stops on a lot of small cap banks. i mean, it's people, i'm 250000000000 sounds like a lot of money. and of course, it is a huge amount of money that full us institutions is actually quite a small it, you know, top 50 banks where they have so many banks say so really? i think they just, they just don't really have a clue what's going on. we saw the boss for him to give money, the hike of inflation rights. but are anyone seemingly understand what the consequences are receiving that? but you talk about the consequences. donald trump has put out this statement here and you met it where the consequences or not. let's have a quick listen to what the former us president had to say with what is happening to

our economy and with the proposals being made on the largest and dumbest tax increase in the history of the usa times 5. joe biden will go down as to herbert hoover of the modern age, we will have a great depression far bigger or more powerful than that of 1929. as proof, the banks are already starting to collapse. well, he's not holding back as a donor, tommy, he's not know of abiding his tongue. is he? but of course it's a, it's a good political opportunity for donald trump. but you were saying janet? yeah, yeah, janet let yet. and so i think she just added flames that fire in that not awful speech by biting, just compounded it for him. so maybe that's just what yellen had to say, just, you know, before trump came out with that statement, right. america's economy relies on a safe and sound banking system that can provide for the credit needs of our households and businesses. so when they have her a bank, especially one like silicon valley bank, with billions of dollars in deposits,

fails, it's clearly a concern. you know, chris, some people like to say in the certainly, i think i'm one of them, frankly, that you know, the global banking system. it, it's so heavily intertwined. i mean, the tentacles reach far and wide around the world. and that does seem to be a legitimate concern about knock on effect from this. and do you see a risk of a knock on effect? and then, and then after that i'll be asking you something about this new multi polio wild order. so what, what is the risk right now for norco? yeah, i think roja what tentacles is absolutely apps in this case. i mean, let's look at the us. right. the dow always opens quite light compared to other western markets. the foot see in london opened before and we saw just a really a good not really, i'm not a very comfortable situation for you. k companies, western companies that have their hops in london and, and then you saw that debt. now i think we'll, we'll see now is just before the close of that we're recover. that's an awful nightmare for a trade in london is basically at the behest of whatever the u. s. a going to do

lights run in the day. right. i'm, we see that across everything frankfurt we can look at any other market and it just shows that, you know, our point that we're always making is that the u. s. is dictating financial policy of every other country within their sphere of interest. they don't allow them that much freedom and everyone is sort of intense. it's waiting for what these fumbling man in his eighty's is about to say. we does just crazy. our case spoke to the south africa based executive director of 1st source money and the india based managing director at mercer's advisors, who also say that b b collapse will have an effect on global markets. african banks, especially in south africa, highly exposed, highly connected to the global market, to the extent that are still connected, the collapse of b. b is likely to affect african bank in quite a large way and south africa in particular. so we cannot ignore that collapse that

collapses, not just going to affect the american small banks, we're going to run most likely from monday, going on, going to affect the band, some asian banks and things of africa. and indeed, some of the african countries that connected to europe, asia, and indeed the us itself. so africa will certainly be affected. so, you know, especially if companies are looking to bring in better customer service and better innovation to their customers. so which the larger traditional banks may not be offering 30, but now people may say that look for security, we're the better customer service and foster customer service and better technology comfort. a security part right there may be a flight of from them until the innovation that different companies bring, the new bangs bring, we'll get to new jersey to some extent, the take them to be harder for them. when back to moscow has

agreed to extend the black sea grain deal agreement, but only for 60 days. in order to assess whether the west will prove it's ready to fulfill both parts of the package. rushes deputy foreign minister highlighted that it's commodities entering the market, are supposed to be part of the deal as well. the comprehensive and frank conversation has once again confirmed that while the commercial exported ukrainian products is carried out at a steady pace, bringing considerable profits to key have restrictions on the russian agricultural exports. as the stunning place. how far the stones were, we determined upon tangible progress on the normalization of our agricultural exports, not in woods, but in deeds. so this deal is supposed to allow grain from both russia and ukraine to get out of the conflict zone and over to countries in need, notably in africa and asia, but russian for a mr. sergei love rav explain just a few days ago, and you might be shocked to learn this,

that only half of that bargain has been upheld, and that's the half the covers ukraine shipments. you do that the, the 1st part of the green dio package is the safe export of ukrainian grading from the ports of ukraine via the black sea. and the 2nd is the need to remove all obstacles to the export of russian grain and fertilizers. the 1st part is being executed, but the 2nd part is not executed at all. in fact, sanctions prohibit russian ships carrying green and fertilizers from entering relevant ports as well as prohibiting foreign vessels from entering rushing ports to pick up these cargoes. also, sanctions prohibit our russian agricultural bank from using the swift system if we're talking about a deal that it is a package deal. and if a package is half completed than the issue of renewal becomes quite complicated. so level again, evoke the double standard earlier this month that the g, 20 foreign ministers meeting in new delhi pointing out that quote, russian agricultural exports are being blatantly hindered. no matter how much the

europeans and americans who are used to telling lies, try to convince everyone otherwise, it turns out that the western sanctions are blocking the ships carrying, rushing grains and fertilizer used to grow food from going to russia to pick up that cargo and also from entering the ports of delivery. so just how much you printing your ane is getting to the countries that actually need it most well elected leave are getting about 15 percent of the total export volume, which works out to about one percent each. that's according to the latest data from the black sea green initiative joint coordination center. the top 3 destinations for the grain are china, spain and turkey, representing 46 percent of all exports, involving hundreds of shipments. china, of course, acts as the gateway to asia and turkey, the gateway to africa. but what's the deal with spain? spain domestically produces more than enough of the grain that it needs to feed its own people and europeans with people's grain. these accounting for just

a quarter of all the countries domestic consumption, the rest of that grain that the country produces goes to feed its livestock, notably pigs. spain is routinely ranked as one of the top, if not the top port, producing country in the entire world. so that's great news for spain and europe. pork industry to get ukrainian grain, but it's not exactly how this whole deal was sold to the world as an absolute necessity. it's kind of like starting up a food bank and demanding donations and all this food. and then going home and shoving in your fridge, it smells like a total bait and switch. russia agreed to the deal because there was so much hanging over the people's starving if they didn't. and now the data suggests that a huge chunk of the ukrainian food is just being sold to europe to fatten it's livestock, and also it's coffers united nations secretary general antonio gutierrez, last october express quote. deep concern when initiative stalled. and he had

earlier warned of unprecedented global hunger if it didn't get off the ground. and now they apparently can't be bothered to ensure that it's being honored by all parties. the deals set to expire on march 18th. and moscow has said that it's ready to extended, but not for more than 60 days under these conditions. wherever that last october, the russian defense ministry also pointed out that russian military and commercial ships used to secure the green corridor retard it in a massive ukrainian draw strike in the crimean port city of sebastopol. the scheme seems to follow the same pattern of other western truce initiatives around the ukraine, conflicts like the minsk records, which as former german chancellor angela merkel and former french president, fall slow, long have admitted were just used to by time to give ukraine a distinct advantage while at the same time trying to stick it to russia, tone down your complaints about human rights abuses. if you want to make big money deals, that's the message being spelled out clearly to the u. k. by the trade minister to

the u. e. the u. k. and other western countries must separate politics from trade in the economy. the u. k. must tone down standards, human and workers' rights provisions in trade deals. if they want more market access and more business opportunities. the minute we bring politics into discussions, we are deluding from the main objective of the agreements. the statement comes as the u. k. has been testing the waters and the region in a search for new trade partners and its post racks at existence. british officials are seeking to strike a deal with the u. e and other middle eastern countries from the gulf cooperation council trade bought the push. however, as said to have been hindered by critical reporting on human rights records during december's world cup and guitar. the chairman of the middle east center for strategic and political consulting believes the gulf states won't give vent to western imposed values. political oppression has been used to

get benefit because normally and we, we learn the lesson. we knew about that the under secretary of the minister of foreign affairs a month ago he said, we are not. we are not obligatory obligated to to follow the state department of us a for the beta the notes on human rights. and we are sick and bored from this file that they always complaining and accuse our countries. but we are happy with what we have now. we are not ready to adopt something i guess, a fix and religion and polish when it comes to those western values. i mean, the west has a history of being able to say, hey, this is how we believe that you should live your life. this is how we believe that your government should act. do you think this is one of those cases where the u. e,

at least with the official said, but do you think that this is one of those cases where there is some pushback we understand the game we are ready to to play the game. but we are not accepting any kind of pretending human rights issues. we as a society, as a citizen, as a family man, i cannot accept that. and i think the gcc government and mostly slim government is not accepting that issues. q civilians have been killed and the child, the injured any crania attack and don't ask republic. and a warning you may find the following. images disturbing. the 2 women killed were customers of a local supermarket, struck in the shelling which wounded 2 others, including a teenage girl. the ukrainian rockets also severely damaged neighboring buildings and less cars burnt out air defenses were said to have prevented the strike from being even more destructive. according to an investigative committee working on the

ground, he may have used us supplied high mars rockets in the shelling for that of that is to come on to according to the characteristics of the creighton, it can be concluded that the strike was carried out by using the high mas rockets as a result of which civilian infrastructure receive significant destruction. there are no military facilities or equipment nearby. as a result of the shelling, 2 civilians were killed and one child was injured. meanwhile, russia's wagner group as leading an assault against the ukrainian stronghold in the city of archie moss, also known as back lou. it's the leader says that his fighting has become more intense. he ab, as sending more fat forces into the battle. i've been asking you, the situation is difficult, very difficult. the enemy is cut throat fighting for every meter, and the closer we are to the city center, the harder the battles ukraine's throw an endless reserve sancho. we are moving

forward and will continue to move forward. we will not dishonor the glory of our russian weaponry. people could, i mean, he added their russian forces are now currently just a kilometer from the center of the city. the area has been a focus of intense fighting for mines with ukrainian troops now flight on both sides. this comes as a ukrainian commander has admitted that its military supply routes are being cut off by the advancing russian forces. whereas with me and more shimoda water, it's hard to hold every building. there's a particular danger that the neck of the cauldron is no more than 4 kilometers. without logistics, there is neither a rotation nor a supply of ammunition. we understand there may be repeat over the balance of coldness situation whether osha, cut off, and an intentional withdrawal of troops can endanger during tar colon. ukraine. president zalinski claims he is called that chose from the zapper or she region to

reinforce our to mosque. that's as yet has demanded more weapons from his western partners for the conflict. here's our t equals you dawn up with more on how russian arms are giving its troops. the edge against the ukrainian military western countries have approved trans of to traunches their weapons and equipment to ukraine, which so russia has had to raise stakes to some of russia's newest combat vehicle modifications are already here in the dumbass and they have already been tested, had their work has been proven on the battlefield quite a few times. ah, the vehicles tracks spew dirt on us as it storms paused towards the front line to cover infantry salt teams. it's how doesn't offer much protection, but what it lacks in nama, it makes up for in speed and fire power. ah

ah! it's designed to blitz the enemy, released to smoke bombs and disappear. the crew tells me this amphibious infantry fighting vehicle has already met its match in the dumbass. quote, the proudly american bradley's from the most recent shipment already here. when did steve of show others in about our new airborne combat vehicle? the b m. d 4 is an excellent machine, works like a dream. of course the caliber pleases me. it is good against large clusters of

opponents and strongholds against light vehicles. and it's also good against bradley's. it has excellent speed and low fuel consumption. the machine has proven itself, especially on the front lines. it has a high rate of fire. the ability to shoot from close positions. we use the b, m, d every day, send greetings to our opponents and do not let them relax. moscow has been repeatedly calling on the west to stop military shipments. stop the escalation, all russia will have to match it. this i, if the is only one example of russia's new weapons deployed to the, with the theater brand, new t 90 tanks lurk in the woodlands. drones is sure in the skies faster and more powerful missiles hit ukraine's infrastructure d behind the lines. but the power of russia's biggest and most lethal weapon so far has only been unleashed, had drill sites on my gosh, darn of reporting from the dumbass

r t. i dangerous tendency. that's how the secretary of ukraine security and defense council has described growing cause among ukrainians for peace talks with russia. yes, no, you listen to all the activists from the wolf reach and who's had that he go. she ations are needed. that you need to sit down and conciliate, keep in mind that there are more and more rest than they are in favor of the stalks with russia. and this is a very dangerous trend when even people from western ukraine begin to talk about such things. i find it very consistent with what we've heard previously from representatives or so called representatives of the cranium. people and government is also very consistent with the so called representatives of western countries like se, dental of who himself was the mayor of lou guns where i've, i've been myself people there. one piece to now it's far better in many people's opinions and i'm sure ukrainian space sides would agree to that this be achieved in

a peaceful manner. not with billions of dollars of military aid, not with weapons and obsolete military equipment being pumped into this area of the conflict here. it would be far better for everyone involved and including these people who we've seen reports who are being rounded up in nightclubs, and people sent to places like audio mosque to meet the horrible. and the president of oliver says the us has strangle there, ron, for decades seeking to impose its democratic values on the country. has comments came as he held bilateral talks in tehran, where the 2 countries leaders reaffirmed their commitment to building a multi polar world. i am pleased to visit to run the capital of present day or on which has become the cradle for one of the most

culturally advanced civilizations. through the territory of which trade routes passed long before america was discovered. your ancestors knew about logistics, exports in transit, much more than those who have been strangling your country with sanctions for more than 40 years, trying to instill their so called democratic values. they forgot that every nation has its own values, which stems from its culture and way of life. well, of course, alexander lucas shank over the double russian president, arrived in iran on sunday. and today he was warmly welcomed by the he's wanting counterpart to brian, re see well the 2 sides. talking to ron extensively in a wide range of m like field industries including mining energy transport, agriculture i t. both sides are turning to each other in defiance of the western sanctions. as mister, like a shank of said to day in his meeting with brian bracey that he said that the

sanctions are not threats or the sanctions or opportunities for both sides. so he advised both sides, iran and a better route to stick to those opportunities and should not submit these opportunities as these. of course, the sanctions are pressures on the outside, but they are a blessing in disguise for both countries as those sanctions that pressures by the west are bringing and are forming a unified front on the eastern block. delacruz and other countries are also jumping on the wagons trying to come together and turn to each other in defiance of the western sanctions. and brian bracey also said today that adela roach's of strong country and iran eyes more cooperation with bella roost course. today the 2 side, this side of and find of course, a roadmap, cooperation roadmap, would be 2 little sides. cooperate

a different fields. and today they signed those 5 agreements and use to just get closer and boost their bilateral ties. well, iran exceeded to, of course, made an exception to the shanghai cooperation organization last year. and bella, luce is also willing to join and become a member, full member of the s t o. and if the 2 sides joined this important organization, they can easily can facilitate cooperation economic cooperation between different starts. so it's a 2 day visit by mister the cushion cope. and he will stay perhaps until tomorrow, or perhaps he will return to his country today. but the outcome and the consequences of his visit are significant. the international olympic committee has brushed off london's attempts to pressure the sport's body in the banding,

russian and bell, russian athletes from next year, summer games in paris saying that giving into such demands would have a detrimental impact on sport. it is not up to governments to decide which athletes can participate in which to national competitions. this would be the end of world sport as we know it today. we hope very much that the british government will respect the autonomy of sport, which it has emphasized in so many decisions, statements and united nations resolutions. it's not the 1st time why not plates from russia have found themselves facing calls to be banned from the olympic doping scandal seen as athletes having to compete under a neutral flag at every games both summer and winter since the 2018 event and seal after the war broke out in ukraine. numerous international sports federations have been demanding a total ban on russian and bell. russian athletes participating. the u. k. minister for sport echoed those comments. we know that sports and politics in russia and

bella luce are closely connected and we are determined to prevent the russian and bill of russian authorities from using sports for propaganda purposes. for his call a miss allen more believes that the i o c has openly slap down the u. k. ball london's logic implies that it too should be banned from olympic games over its conduct in the world. it backfired because this is very here. say, look, whatever you think about it at home stays home. it's only russia are 3 need, useful boy and girl for the world to order for them because in case you compete, so it does make a difference. there were,

they were usually never called or to be conscious british 1st citizens in order to leave the sports, again, the people who are in charge of sports and they don't get to sports is power money to be able to abuse or anybody to stop. and that's all for now. be sure to check out our t dot com for all the latest breaking news and updates. we'll see you right back here at the top of the hour. ah there are more.