a with a secretary of state anthony blinking visits, ethiopia, niger to boost you with influence in africa that says there were trade accuses washington of impeding peace in the whole region. australia's plan to buy 5 nuclear powered submarines from the u. s. and develop more in the future draws criticism from china and mid concerns. the deal puts non proliferation agreements at birth. russia agrees to extend the black sea green deal, which was set to expire this saturday for an initial 60 days,

but says the west must hold up. it's part of the agreement and allow the export of russians, brain, and fertilizers. and multiple us bank c sharp falls in their stock. as the 2 american bank collapse over the weekend, as president biden tries to study the boat, assuring americans, their money is safe. ah, good morning for martine or national studios in moscow, and welcome to the hour's top stories worldwide. i'm fear allies about we started africa were us secretary of state anthony blinking is set to visit ethiopia niger as the byte and administration hopes to strengthen its influence on the continent. however, the trip was marred by the president of our trade accusing washington of taken an un constructive approach to the conflict in tea grey hindering

a peaceful resolution. r t correspondent, corolla taught le, discusses the context of lincoln's visit to africa. the elections are saying that they're looking at this route and their relationship with if the o p are in a different way and that's what they are hoping to establish a re fashion, to re imagined relationship with. if you are considering if size and influence, he is more from molly fee, what we're looking to do is re fashion our engagement with peer. we would like to be able to have a partnership that's commensurate with their size and influence and with our interests and commitment to africa. this is also part of the dynamics when you look at the 2 year war that happened in the northern te gray region. this war was that that was fuel, if you will buy a peace deal upon the outlet, the prime minister of if the old shaking hands with mister wakey,

who is the president of at a tree, just north of yoga. and it was that p deal that really unsettled the t great leadership as it were. and it was the start of much mission nations that lead out timidly to conflict, which is said to have displaced nearly half a 1000000 people and killed hundreds of 1000 small. but less of weight, he has his own views with regards to why the americans are involved. and he says that he blames washington for what he calls being and constructive at a time when it was much easier to have reached a peaceful solution here small from president as of work. the crucial question is why this war was launched in the 1st place had a time when a peace agreement was signed. in our view, this was not really a t gray people's liberation, france agenda,

but essentially the agenda of washington. the sad fact is perturbed and anxious as they were by the advance of peace between eritrea and s t o. p. impeding and scuttling it became the duct obsession. but mister, blinking moved from if you move towards the new year, and that is a very interesting country and it says that it is right in the middle of the hell. and the hell has been a hot bed of conflict over recent years, some 20 years, in fact, of islamic insurgency and just general extremism that we've seen from various groups who have interest in who controls the area. now is important to, to acknowledge here that the americans are hoping to re kindle a relationship with a country on this a hell. even though they've had a 20 year participation as part of a global force. and as the american forces,

as on his own. but they have been unable to bring about the said piece. now the real question is, why would they be successful now? australia plans to buy multiple nuclear powered submarines from the u. s. has drawn sharp criticism from china. beijing slammed the deal as the stabilizing the region, also raising concerns. the deal jeopardizes nuclear non proliferation agreements. the nicholas submarine corporation, blood released today by all crews, is a blatant act that constitutes serious nuclear proliferation risks. undermines in the national known proliferation system fuels arms races and heard speech and stability in the region. the u. s. president u. k prime minister and australian p. m announced plans to develop a new generation of subs that will be built in the u. k. and australia with us, technology and support. the new subs are fueled by weapons, grade,

highly enriched uranium, and could enter service in the late twenties, thirties, or early 20 forty's. the australian foreign minister, though, has asserted that the vessels won't be nuclear armed, so won't violate the country's anti proliferation commitments. the u. s. has praised the controversial new deal calling it a prospect of peace. stand that the inflection point in history, where the hard work of enhancing deterrence in promoting stability is going to affect the prospect a piece for decades to come. the united states can ask for no better partners in the pacific where so much of our shared future will be written as an enhanced security partnership between australia, the u. k. and the u. s. which the countries claim secure stability in the endo pacific region, international and independent china specialists, andrew lung says the office nuclear sub deal undermines piece in the region and

pushes other countries toward nuclear development. my luis lock is so as far as the united states or cuz there is concern, obviously because it is a nuclear, propelled in lot nuclear on summer reads, it's likely to send a signal to other countries to do the same. and obviously as the trial is foreign ministry, a statement says it is going to erode the kind of loan deal vehicle for reparation deal. and then it was also send signals to other countries to nuclear armed themselves. and it would break the whole global effort to the nuclear lies. obviously the small, peaceful apiece we initiated because it is a marines even though not. ready nuclear armed it is a nuclear propel using bill military purposes. these are submarines. these are not motion ships. so obviously that the use of nuclear power,

all of propel systems for military means. of course, it is a violation of the lawn fruition treaty because the next step is that you can use nuclear energy, all sorts of things for military purposes. moscow has agreed to extend the black sea grain deal, but with ukraine, but only for 60 days to assess whether the west will prove it's ready to fail it side of the deal. russia says it's commodities are supposed to be part of the agreement as well. our tea contributor rachel mars then explains 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 foreign minister, sir, gala rav explained 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 deal 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, then 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 into 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 left to leave beginning 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, axes, 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 agree to the deal because there was so much hanging

over the people's starving if they did it. and now the data suggests that a huge chunk of ukrainian food is just being sold to europe to fatten its livestock, and also its coffers. shares and several regional u. s. banks closed sharply lower on monday with some even putting trading on pause after stock. hit new record lows. this comes in the wake of the collapse of silicon valley bank as spheres of a domino effect spread. even larger banks have seen their shares go down, including city bank and bank of america. the stock crashes occurred as president biden sought to reassure americans that their money is safe, although he refused to engage with journalists after delivering his statement. all customers who had deposited these bank can rest assured i want to rest assured that will 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 for no losses will be borne by the tax payers. let me repeat that no losses will be borne by tax payers. or what do you know right now about why this happened? 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? banks or president biden's address to ease the fall out from the bees. collab seems to have had a little effect not only within the u. s, but also across the pond. on monday, european stocks fell as the sell off and bank stocks which began on thursday continued with stock falling to year record lows. the dive comes despite news that hsbc had agreed to buy the british arm of the silicon valley bank. asian markets have also seen volatility following instability in the us. my colleague,

rory slew shape, spoke with rti contributor christ times, who took us through the us banking crisis 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, 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 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 it your money lend throughout the customer. 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 this back because 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? let's say if something happens. so what happens the us hike the 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 was less. so this is really key point to talk about the interest rates right over the key and critical point. yeah. yeah. so

interest rates a rocketed 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 bid exactly what the guidelines say, i would say the seo acts the same way that 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 route 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 really. 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 the talk just before the weekend over the weekend that 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 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 year on. so i would say the fiscal responsibility lies with the regulator and ultimately with the u. s. governor, i ha, well, okay, 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 address in the public essentially saying nothing to see here. move along, your money is safe, but, but then, you know, when people wanna ask questions, i me the guide legged it out the back door just now. i mean, is it possible the biden, in some way is trying to avoid what could be a dire truth or had anything at any answers for it? i don't think anyone really knows what's going on there and really big 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, 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 prince to give money,

the hike of inflation rights. but are 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 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 the 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 the certainly, i think i'm one of them, frankly, that, that you know, the global banking system. it is 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? yeah, i think ro, yoga tentacles is absolutely apt in this case. so, 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 really a lot of really i'm not a very comfortable situation for you. k companies, western companies that are out there 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. are going to do lights run in the day, right. and we see that across everything frankfurt, we can look at any other market. it 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 on tend to, it's waiting for was this fumbling man in his eighty's is about to say, which is just crazy. the international olympic committee has brushed off london's attempts to pressure the sports body into banning russian and bella rouge and athletes from next year. summer games in paris saying,

giving into such demands would have a detrimental impact on sports. it is not up to governments to decide which efforts can participate in which international competitions. this would be the end, a world sport as we know it today. we hope very much that the british government will respect dale told me of sport, which it has emphasized in so many decisions, statements and un resolutions. following the conflict and ukraine, the committee banned athletes from russia and bella rues from competing and events back in february, a group of more than 30 countries, mostly western states, urgency iow, seed not to ease the ban on athletes. the sports bodies response comes after the u . k minister for sport wrote to the olympics, biggest sponsors, also asking them to pressure the olympic committee. we know that sports in politics in russia and bill iris are closely connected and we are determined to prevent the

russian and bela russian authorities from using sports for propaganda purposes. sports columnist alan moore says that you case efforts to maintain the ban on russia and bella rues from sporting events, is an attempt to impose its own rules on the olympics. this is very here. say, look, whenever you think about it at home space for it's only a stronger that russia are really useful would be boy and girl for the world long and order the 4th because to keep them because in case snap is just turned on today. however, it's very useful to keep around never contin order boys will be conscious not there are years and ball and see for example supplying arms nor

produced for soft or citizens in order to say. so basically it's and washington has harshly criticized. they propose new bosnian serb law, calling it russian influence, and a danger to democracy and human rights. that's the spite it finding its inspiration in the u. s. foreign law. in both name hits the golden or the president of republic, services is falling. others in the region down a dangerous anti democratic path. and trying to pass kremlin, inspire draft loss, the rob residence of their basic rights. silence descent and a low corruption to flourish and checked. the republic as the obscure authorities 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

everyone else. washington's foreign agents registration act known as far a requires public disclosure of anyone representing foreign interests or receiving funding from abroad, introduced in 1938. it's main purpose is to counter foreign propaganda. the law has come under criticism being enforced with increasing regularity and intensity, especially since 2017 against trump administration officials. the head of the bosnian serb republic says criticism coming from washington is out of place since the new regulation was modeled on laws, the u, as itself enacted so much of a mobile watched it. we are copying the american model. the made the usa, one of the world superpowers. it is interesting that the director of usaid is reacting knowing that many projects in bosnia and herzegovina of finance, true usaid, washington's complaints about the law come following mass protest in georgia over

plans for similar legislation in the country. protesters in the capital of tbilisi attempted to storm the country's parliament and clashed with police as they rallied against the draft law that would brand some media outlets foreign agents. the u. s . criticize the bill and supported the protesters, demands saying the law clashes with western values. serbian american journalists, no boucher mileage, says the criticism coming from washington demonstrates the west hypocrisy in which american laws are wrong only when applied by non americans. problem within, in georgia, around arose when the opposition backed by these n g o that are being externally funded, labeled this proposal as russian and essentially called for revolution for the government. and they came very, very close to one of those color evolution cruise. as a friday and then things seem to come down a little bit because the government backed out what happened in,

in washing server public, which pushed this initiative on friday, i believe was a deliberate move, maybe a trolling tactic. and so what he's trying to do is, i don't think he once is the law pass is great, but i think his purpose based on the comments that i've, that i've heard is to essentially expose this kind of hypocrisy by the americans and the west. and he has succeeded brilliantly 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 and all of these n g o z that are literally outside agents of influence have declared themselves as such. and all of a sudden people pulling who are inclined to believe something with a nice flowery name, you know, citizens for peace, democracy excellence and prosperity would realize that yeah, ok, this is

a foreign agent. but if it doesn't pass because of this kind of pressure, he managed doughty cars managed to it, prove that the you and the american government essentially think that the american law is horrible when applied by non american. iran is hosting a major economic forum seeking to boost trade and investment with russia. a key focus of the event is one of russia's muslim regions are t contributor use of july poly reports on the ambitious business plans currently in the pipeline. headed by president of the vascular states raw, the hobby roast. the business delegation comprises top russian 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. now we see is

a m 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 its economy. on discussions to ron and moscow's interests and concerns coincide on many fronts, both facing western sanctions. they have further turn to each other or to neutralize the impacts of the mass. 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 this for dietrich, north south corridor, the wrong plays the role of it, which shortcuts and connects russia to india and the persian gulf middle states. so

this is a very good idea in terms of div 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 and one is now resorting to watch and tech providers to run it sort of industry take oil is running best. for example. some russian firms here say they produce efficient dis on par with swedish and american counterparts. and they can offer them to iran, russia technology companies. we don't provide the run in market the whole range of the fetus a did, or any type of walk you needed. as for drilling for sites like that, the ratios, exploration, and the wealth and well drilling as he wanna watch are opposed to more than double their bilateral trade volume to $10000000000.00

a year. such business forums are seen as an effective step toward achieving this goal. to ron 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 july t r t, test rod. that's her up on the hour and up next. the search for alternatives to western currencies is gaining momentum in africa. as the breaks bank is pushing for international trade and local currencies, while enthusiasm for crypto currency is on the rise coming up on africa. now stay close with what we've got to do is identify the threats that we have. it's crazy confrontation,

let it be an arms race group is on, often has very dramatic development. only personally and going to resist. i don't see how that strategy will be successful. it's very critical time time to sit down and talk to the we still have in few countries that to one to be the global edge a month. and that is what the i resisting. so african countries have always had a bad it really comes to colleges because we rely on the us dollar. we don't want one or 2 countries determine all future for now. you still with me for that moment, jeffrey sets 2 weeks ago, speaking on the public platform,

said that ukraine is fighting a proxy law between russia and usa. each of the dollar wise nation has begun. it's time for a global we said, africa has grown weary of western dominance and foreign currencies. the search for alternatives to the dollar and frank is gaining momentum. accelerated by the conflict in ukraine, which brought home some hard truths. hello, welcome to the sweet african now. so we're coming to you from the heart of south africa's financial district and the most expensive way now in africa. behind me is the johannesburg stock exchange, which is fitting for program, exploring africa, search fall turnitin, to western currencies. the french frank and the u. s. dollar have long played an out sized role in global markets. the cracks are starting to appear. african countries and central banks are not holding these currencies in.