ah ah ah, after to us, banks collapsed over the weekend. the new york stock exchange holds crating and a handful of bank stocks that are crashing all present. and by that tries to calm the waters for sharing americans with their money is say, russia agrees to extend the blacks the grain deal for 60 days, which was set to expire this saturday. but says the west needs to prove it ready to hold up its end of the agreement. the u 8 tells the u. k to tone down its complaint about human rights abuses. if one that wants to make big money bills in

the region, ah, coming to you live from the russian capital, this is r t international. i'm rachel blevins. here with the latest news welcome to the program. trading has been halted for multiple banks on the new york stock exchange after stocks hit record lows. it all comes in the wake of the collapse of silicon valley bank after fears of contagion spread those affect. it includes several regional banks after losing 60 percent of their market cap on monday. experts blame as b, b, c, e o for the crisis and market as the 2nd biggest u. s. banking failure on record. the stock crashes occurred while president biden sought to reassure americans that their money was safe, although he refused to engage with journalist after delivering his statement. all customers who had deposits and these banks can rest assured,

i want to rest assured that will be protected and know, 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 the taxpayers. let me repeat that no losses will be borne by the taxpayers when the president, what do you know right now about why it does happen? and can you assure americans that there won't be a ripple effect due to the president? should all the positives be protected at all? based on what president might have claims, the us economy is safe, desperate clients lined up to withdraw their funds. images circulated on social media over the weekend, showing cues of people. some never got the chance to get their money out. financial markets around the world have fault the rebels to as concerns of a global domino effect,

continue to grow. economics professor richard wolf believes s c, b crisis will do far more damage to the u. s. economy than many think. at this point, what you have is a mixture of fear and panic, panic for those who have our long histories of knowing that the government always assures us in the middle, middle of the crisis, that all will be well. and many times that turns out to be bad advice, dangerous to follow if you are someone involved in finance and for the rest of us, we're waiting to see whether the proverbial other shoe will fall. how far this will spread, how deep the roots are. is this a problem of a few banks? is this the problem of the entire financial and banking sector? we don't know, but i can assure you of at least 2 or 3 things. number one,

the most dynamic sector of the u. s. economy is high technology. and that is the sector most damaged by the lay offs of the last 6 months, over half a 1000000. and now this collapse in their credit and banking system, it's going to be very hard for startups to get the kind of financing they have become used to. and that's going to be very bad for the larger american economy. and the other one is that people and businesses looking at the united states for a haven for a place to put government money, private corporation, money, individual money that is being reduced by many phenomena. but now this one will add, and that will see foreign people pulling money out of the united states because it is increasingly less safe to keep it here than to move it elsewhere. so that the

ripple effect of the ramifications of this. we are just at the beginning of figuring out where this is going to go. my colleague, worry, so shay spoke with our team contributor chris, and who took us through the situation and what it could mean for the global economy, volleyball. i don't think anyone really heard of it outside of the, the tech industry until friday. really been with this news broke. a lot of people just to explain the views at home. most of us know how things work, 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, lend to the customers. i'm not to 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 best buy is they had over $250000000000.00 on their balance sheet. so they 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. i'm not obviously makes the debt that they're holding on their balance sheet, which was a lot of it within us government bonds was less. so this is a really key point you talk about the interest rates are the key and critical point . yeah. yeah. so as those interest rates the rockets it the, the debt that they have, they have lead 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 did 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 spoofs a huge amount of people, a lot of money in the bank companies, mainly who then there was a what we'd call to 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 had to step in and take over. now what i find really interesting glory is that they portrayed the,

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 fiscally responsible. 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 out with a statement addressing that public essentially saying nothing to say here, move along, your money is safe but, but then, you know, when people wanna ask questions, i mean, the guy 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 had any, had any answers for it? i don't think anyone really knows what's going on there. and really they suspended stops on a lot of small cap banks. i mean to people, i'm 250000000000 sounds like a lot of money. and of course it is

a huge amount of money. but for 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 printing of money, the hike of inflation rights, but anyone seemingly understand what the consequences are if doing 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 form a u. s. 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. we'll go down to herbert hoover of the modern age, we will have a great depression far bigger and more powerful than that of 1929. as proof, the banks are already starting to collapse. you know, chris, some people like to say in and certainly i think i'm one of them, frankly, you know, the global banking system. 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, and then, and then after that i'll be asking you something about this new multi pony world order. so what is the risk right now of or not call? yeah, i think you're what tentacles is absolutely opt in this case. i mean, let's look at the us, right. the dow always opens quite light compared to the west. the markets, the foot see in london opened before, and we saw just really not really not a very comfortable situation for you. k companies, western companies that have their hops in london. and then you saw that debt. now i think what we'll see now is just before the close of that we'll recover, that's an awful nightmare for trade in london is basically the behest of whatever the u. s. the going to do later on in the day. we see that across everything frank, we can look at any other market, and it just shows that, you know, all point that we're always making is that the u. s. is dictating financial policy of every other country within their fear of interest. they don't allow them that

much freedom and everyone is sort of on tens of waiting for what the fumbling man in his eighties is about to say. we just crazy. moscow has agreed to extend the black, the grain agreement with ukraine, but only for 60 days in order to assess whether the west will prove it's ready to fulfill its side of the deal. russia said it's commodities are supposed to be a part of the agreement to 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 kiev 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 that 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 the 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 raining during is getting to the countries that actually need it most. well collectively they're 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's 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 its livestock, and also its coffers united nations secretary general antonio gutierrez, last october express quote, deep concern wendy 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 deal set to expire on march 18th. and moscow has said that it's ready to extend it, but not for more than 60 days under these conditions. wherever that last october, the russian defense ministry also pointed out the russian military and commercial ships used to secure the green corridor retarded 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 francois longed, have admitted were just used to buy time to give ukraine a distinct advantage, while at the same time trying to stick it to russia. town. now 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. h. e. the u. k. and other western countries must separate politics from trade in the economy. the u. k. must tone down standard 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 it's post brackson existence. british officials are seeking to strike a deal with the u. e and other middle eastern countries from the gulf cooperation council trade voc that 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 it to western imposed values. political

oppression has been used to get the benefit because normally and we, we learn the lesson, we knew about that the under secretary of the way, 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 for the she, 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. is, 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 that 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 the slumber government is not accepting that issues. the full restoration of ties between iran and saudi arabia will help bring a political settlement to the devastating more in yemen that's according to iran mission to the un. it seems that the resumption of political relations between iran and saudi arabia will speed up the achievement of a c, r in yemen. the beginning of the year, many people's dialogue and the formation of an inclusive national government in this country. soon after were rubbed back in 2014. the conflicts in yemen became

a de facto proxy war between a saudi led military coalition, which supported demons recognize government and iran, which back who the rebels who had captured much of the country. a curious between the warring parties was reached in april of last year, extended twice, but then expired in october. however, both sides continue to adhere to its ruled, both of them and the government and who the rebels have. welcome the agreement between iran and saudi arabia. the deal was largely sponsored by china, which are the 1st time in years, had used as diplomatic rather than economic power in the region. its influence, among other factors, has been boosted by increasing tension between the u. s. and this key, middle east ally, saudi arabia. the deal comes a met, a drastic humanitarian situation, and war torn gavin, or more than 20000000 people are estimated by the red cross and to be in dire need of help. a large part of the local population has been deprived of access to

education, displaced from their homes. i'd have also had to contend with droughts and other consequences of climate change. yeah, many journalists who st abo, katie, believes the main beneficiary of the war in yemen is in fact the us. if it's not the was 2 night stay there, then this old you will not actually be able to lounge toward. we remember that the bus at the, in washington, at the time in 2015 when the, when the war begun, when the money has declared the war. washington, after that the united states white house has released the statement. they say that they will for both the so the war with all its need with weapons and the logistics supplies and information light states is making billions of dollars in profit. during this war, obama administration window was begun on yemen has tracked the largest weapons deal in us history, of course. so the at

a b and will united out of another web instructor in the united kingdom that brought it has increased by 500 percent. so they actually put it in for this war. so the only one who can actually influence it is the one who actually is part of this war, which is the united states and the u. k. aiming to provide a shot in the arm to trade and investment with russia or ron is hosting a key economic forum and the major focus to talking shop is one of brushes, muslim regions, or t contributor use of drill all the reports on a vicious business plan. being drawn up when there is mutual trust, a deal is a deal. it's this simple to clench a business agreement when the 2 sides of the bargain are from russia and iraq. these b to b meetings came as part of a business forum held in on monday, between

a rough and the russian republic of bush, kurdistan, headed by president of the bosh care states raw, the hobby rove. the business delegation comprises top ration firms active in oil and gas, agriculture i t transport and mining. among other industries. they say they're here to clinch major deals with a wrong, despite crippling economic crushers from the wise man store. we see there were lots of companies in factories in iran manufacture equipment. we on behalf of russian companies and ready to bring new technologies here for the manufacturer of high tank equipment right here in a raw rush. kurdistan is one of the 9 most them republics. and russia and recent years to one has lived up both cultural and economic ties with their muslim states and russia. now we see that the iran is going to be very important and speedy, productive, effective partner for us. why? no one has anonymous and experience to leave and to develop it's economic on

discussions to run and moscow's interests and concerns coincide on many fries, both facing western sanctions. they have further turn to each other or to neutralize the impacts of the bands and western measures have complicated. the russo iranian tre, ties when it comes to money, transfer and banking transactions. this has led the 2 sides to devise new channels to shield their business dealings from the sanctions. you know, as a several bunks of russia already working here. and they're looking for the most convenient for financial instrument organize a normal financial award situated on the strategic north south corridor. the wrong plays the role of a quick short annex rush off to india and the persian gulf middle states. so this is a very good idea in terms of the cutting, the cost of the shipping. if you go from the black sea through the bush for us and then you resubmit it's rainy and see you have to go all around the corner of the

board to reach your target market, which is india or china with the sanctions blocking. get ron's access to key petroleum technologies to one is not resorting to washing tech providers to run it, sort of industry take or is running. but for example, some russian firms here say they produce efficient dis on par with swedish and american counterparts. we can offer them to a ride. we, as a russian technology company, we can provide indian market to full range of the fetus to did for any type of work you with us for drilling for sites like operations, exploration and wealth and well drilling. as he wanna watch our post to more than double their by natural trade volume to $10000000000.00 a year, such business forums are seen as an effective step toward achieving this goal to iran chamber of commerce, which organizes this event says. both sides are determined to interact even more

believing that closer engagement will open it back door for them to neutralize the sanctions. use of jello t. r. t. test. rob. washington has harshly criticized to propose new bosnian serb law, calling it russian influence and a danger to democracy in human rights. that's just by that you asked inspiration in bosnia and herzegovina, the president of republic, a sharp. scott is following others in the region down, a dangerous and democratic path, and trying to pass crandon inspired draft laws, the rub, residents of their basic rights silence descent, and allow corruption to flourish unchecked. the republic, a subscriber authoress announced plans for 2 pieces of repressive anti democratic legislation that would benefit only the ruling coalition in its effort to consolidate power and hurt every one else. we are copying the american model, the made usa,

one of the world superpowers. it is interesting that the director of usaid is reacting knowing that many projects in bosnia and herzegovina, a financed through usaid. the head of the bosnian serb republic says he modeled the new regulation or washington's foreign agents registration act. the so called far a law requires public disclosure of anyone representing foreign interest or receiving finances from abroad. it all falls follows massive protests in the country of georgia over plans for similar legislation. they're the the serbian american journalists and historian, boys, you're malik, believes at washington's reaction to the foreign agent law. expose a tape or critical approach within, in georgia around

a rose when the opposition backed by these n g o. that will be certainly funded, labeled this proposal as russian and essentially cultural revolution. government. and they came very, very close to one of those color revolution coves as a friday and think things at home down a little bit because the government backed out what happened was the super public which pushed this initiative of friday, i believe, was a deliberate move, maybe a trolling topic and so what he's trying to do is, i don't think once a law passes. great, but i think his purpose based on the comments that i've, that i've heard essentially expose this kind of hypocrisy by the americans and the west. and he has succeeded brilliant, clean, in trolling them into denouncing their own law, which is exactly what happened over the weekend. it's

a win win situation for him either way again, if the law passes, then all of these n g o is that are literally outside agents of influence have declared themselves as such. and all of a sudden people poor who are inclined to believe something with a nice flowery name, you know, citizens for peace, democracy excellence in prosperity would realize that yeah, ok, this is a for an agent. but if it doesn't pass because of this kind of pressure, he managed doughty was managed to it, prove that the you and the american government essentially think that the american law is horrible when applied by non american the international olympic committee has brushed off london's attempts to pressure this for the body and to banning russian and bel russian athlete from next year, summer games in paris saying they giving it to such demands would have

a detrimental impact on sport. it does not help to governments to decide which athletes can participate in which international 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 has emphasized in so many decisions, statements and united nations resolutions. it's not the 1st time when athletes from russia have found themselves facing, called to be banned from the olympic doping scandal has seen as athletes, having to compete under a neutral frog, had every day, both summer and winter since the 2018 event and seal after the war broke out in ukraine. numerous international sports federation have been demanding a total ban on russian and bill. 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. sports columnist alan more believe is the i o. c has openly slap down the u. k. while london's logic implies it to should be banned from olympic games over its conduct. and the world is a, because a community is very here is saying, look, what do you think it all stays home where you can feel it? it's only a russia or an extremely useful will be boy and girl for the world, a sport because the key and because in a case a p. so it does make a difference to do the rest are better useful to keep around around countries just to start the war or voice with the consciousness there are you still want to

pursue longer citizens in a slow leak, you know, the, the sports. but again, the people who are in charge of sports and they don't give $2.00 for all has power money to be able to abuse or anybody to stop. that's all for now. be sure to check out our t v dot com for all the latest breaking news and updates with there are more calls for a cease fire or some kind of negotiated settlement of ukraine conflict. some need to leaders have borne zalinski will have to make some difficult decision. however, the west have little interest in russia's plan to restore the peace. that plan is in plain view.