[000:00:00;00] with him, everything makes a surprise visit to mario pull and they're done yet. republic. soaring reconstruction projects in the devastated with the biggest bang, cbs and credit 3 started talks to merge as the contagion from the recent banking collapse. near s spreads internationally also on the program. i didn't see any issue with the prevent normalization of the relationship across investment with saudi arabia as the path is cleared to restore bilateral ties with

iran. following a deal broken by china, which brought the 2 former rivals together. and moscow was the 2nd annual of russia, africa international conference with delegations from over 40 african nations taking part events a sunday. and that means it's the weekly, hey, on r c. my name is peter scott, and here's some of the top stories from the week. just gone. thanks for joining us . we start off with the russian president vladimir putin, who's made a surprise visit on sunday morning tomorrow. you pull in the dance republic. now the russian president drove around the devastated whole city on the hours of seats . look at major b construction projects. it was his 1st visit to the citizens. russian forces seized it last spring. russia considers the internet's republic. it's territory falling a referendum last year in a vote that has been widely condemned as

a sham internationally, but even puts in. so the opportunity to, with some people there and addressed that concerns such as getting russian passports and regular salaries. president putin was accompanied by russia's deputy prime minister in charge of regional developments. as he visited several parts of the city to inspect the progress of the restoration. the deputy p. m told peasant putin how the city was destroyed during the fighting thumb. gimme bully, it's immediately visible. what the ukrainian armed forces did here. when we were advancing, we didn't hit anything, but they were firing from tanks directly. hidden residential buildings. they just destroyed everything. even when there was no reason to do so, they still heat everything inside. they even put land mines and corpses. refugees lived here. i saw this with my own eyes. they performed operations in one room and in another. there were sick people. other people were living in a 3rd room. there were land mines in the medical equipment in the hospital with nazis. normal people would not have done this. previously,

president putin also held a meeting at the command post in the nearby russian city of ross of on dawn. the crumbling said the russian leader heard report from the chief of the general staff, as well as a number of other members of the military tops ross melinda, next city, local officials say that ukrainian forces have hit several residential areas and damaged local infrastructure. they say one person was killed and another wounded in the attack is video shows a flat destroyed as a result of the strike. and then have thought region, according to the russian emergency services. one civilian has been killed and 2 wounded when an explosive devices detonated and destroyed a vehicle official say those responsible i have yet to be identified. and moving on. now, the global financial system has been shaken by the fall out from us base silicon valley bank. now to switzerland's largest lenders, credit suisse and u. b. s. are considering a merger that could be

a catalyst for overhaul of the global financial system. a sharp dropping credit, we shares this, we raise concerns across the financial markets in europe. as major indices fell on contagion phase across the board, big bank sort of faded as well with the banking folks down by 13 percent this week, goldman sachs predicted financial institutions would remain in the pressure until the comprehensive approach is implemented. us markets are dealing with the fallout as well, with banks being propped up with $100000000000.00 bailouts by the federal reserve on the treasure department, which are using all the tools at the disposal to mitigate the crisis. a recent study said that more than a 180 us banks are in danger of collapse to, to anesha deposits where the government cash infusion of help prevent the meltdown . the fed failure to disclose all the banks receiving aid house calls room as well, and has led some market watches to express fears of a possible repeats of the 2008 crush me. the concerns of the correspondent kill him open,

examines the current upheaval in the u. s. banking system. the u. s. financial system has been shaken up pretty badly with news of bank failures splashing across the headlines this week. this is the biggest failure since 2008. it's actually the 2nd biggest failure ever since washington mutual in september of 2008. meanwhile signature bank march. the 3rd largest bank failure in u. s. history capital over it is now announcing their intent to wind down their operations and voluntarily liquidate silver gate bank. this was a week of bank runs starting out with the collapse of silver gate bank followed by s v p, and signature banks caving in this cause lots of market turmoil. 3 banks went down one right after another and this caused haneke among investors and depositors. the u. s. financial institutions saw their stocks plummeting. u. s. officials are

trying to reassure the public that their deposits are safe, extra liquidity is being provided to banks in order to keep them afloat. joe biden woke up early monday morning to make a speech and give everyone a lesson on the laws of capitalism. depositors will have access to all of them honest starting monday, march 13, no losses associated with the resolution of silicon valley bank will be borne by the taxpayer. finally, the federal reserve board on sunday announced it will make available additional funding to legible deposit or institutions to help a show banks have the ability to meet the needs of all the depositors. investors in the banks will not be protect it. they knowingly took a risk and when the risk didn't pay off, investors lose their money. that's how capitalism works. let me repeat that, no losses will be borne by tax payers. instead, the money will come from the fees. a banks pay end of the deposit insurance funds. so how is all of this going to play out?

here's what we've seen so far. the banks that were left cash strapped have now borrowed $300000000000.00 from the bad. almost half of that money went to holding companies for silicon valley bank and signature to the banks that just collapsed and caused panic on the market. an additional $153000000000.00 was borrowed from the federal reserve last week. this column was through a program called the discount window. this allows the banks to borrow for up to 90 days. now typically the program only provides $4.00 to $5000000000.00. but last week, broke records, more money has been given out than ever in the history of the program. the numbers have already surpassed the 2008 crash. so now the fed is back to printing money, providing banks with additional liquidity. but the federal reserve is also continuing

its fight against inflation. and this is going to make that much more complicated. it's a fragile balance between curbing the problem of inflation and propping up the financial systems. now the problem with this bank they had over $250000000000.00 on their balance sheet. 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. 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 really key point. you talk about the interest rates are the key and critical point. yeah. yeah. so interest rates, the rockets in 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 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. he grabbed 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. europe is now feeling, the aftershocks credit suisse took a tumble. and these, with the central bank stepped in to give them a lifeline. the financial world is now holding its breath, waiting to see who is next. caleb martin, r t new york. re, i'd say it's ready for bilateral economic cooperation with to run this, follow the chinese broken agreement to restore diplomatic relations between saudi arabia and iran. how quickly in your mind, do you think we're going to see sadie ravia making significant investments and vice versa? i would say very quickly here on our neighbor and have been and would continue to

be for hundreds of years. so i don't see any sch that would prevent normalization of the relationship across investments. successful with attorney points in the regions state of affairs was followed by a statement from saudi arabia, which said that the country wouldn't trade with those who impose a price cap or any other restrictions or commodities. if a price kept were to be imposed in saudi oil, experts will not sell oil to an encounter that imposes surprise kept on our supply and will reduce oil production. and i would not be surprised if others do. the same . le stamen came as us lawmakers introduced a bill that would allow the justice department to file antitrust lawsuits against opec plus countries. according to the saudi energy minister, the practice would damage the market and create unintended consequences. with the block, looking at ways to counter the proposed legislation. malaria, my colleague nikki,

are in discuss the prospects for further cooperation between iran in saudi arabia with a puddle of guests. the world is changing very fast, and the united states and the europeans do not have the cloud that they had before . and they've also shown that they're not reliable allies are reliable partners. they've shown that enough on new administration and iran, it's policy is to strengthen ties with neighbors and also pursue asian and your asian integration. those who do not want this to happen in the coming days and weeks will constantly try to use the western media to create tensions, to create divisions. definitely time has changed. for iran, it's a different iraq today, maybe and target are more willing to understand the dynamics feel free on or what's

happening in the past decade or negotiation. remember, there is one of the agreement that we're going to have 2 months period or basically seeing how she says iran coming to the deal. so it's going to, it's going to have too much of observation of what they're writing. it's going to come and what they are going to do. so definitely a iran is a neva, it's an untapped market. we expect they have 2 trillion dollars worth of goods, an investment and infrastructure. and definitely it's going to have a stick and iran need, some of the neighboring countries contribute to contribute them back. and this is definitely aligned with vision 2030 as a lot of ground manufacture capabilities. they are very advanced and definitely they can contribute to the iran in rebuilding. let's put it this way. and by looking iran, we are looking at a lot of the neighboring countries and that's iraq, syria, lebanon, and yemen. and this is going to play

a very big economic value within the region. there's a couple of months ahead of us where we will watch was where kathy they have had in historically these, these, these, these periods of cooling off and then things worse and again, but i think now the signal, the, the signal is there, the both sides really want to work for peace because peace actually pays awful lot more than war. i mean the was the saudi got involved in which had been stopped by the americans. we must say of cost them absolute fortune a certain point. the war was costing a $1000000000.00 a week. the diplomatic fail, as we know, was mediated by age and completely bypassing the us, which is always like to see them at least as his own kind of spirit when it comes fear when it comes to influence. so let's just take a listen to what the chinese foreign minister ministry had to say about this. some in the u. s. style their country as the beacon of democracy. but how surely democratic is the u. s. it is redoubled its efforts to tout its democracy and

interfered in other countries in internal affairs and even instigated wars in the name of promoting democracy. facts have repeatedly proven that the drama for democracy orchestrated by the u. s. is never a boon, but a bane for the world. so my question to you is just that, how worried do you think washington should be about such developments and rhetoric with the worried now really is the role that america plays. i completely agree with professor maroney, when he said the world has changed. he's too polite to spell it out in crude terms, but basically, america's none of calling the shots. you know, we, commentators, such as myself, are wondering how much longer we use the term u. s. a gemini, when we, when we come on talk, shows like, like yours. i mean, i really, this is the last nail in the coffin now of us leadership around the world. the fact that the chinese stepped up to the mark and broke this deal was pretty amazing. so i think lots of play for very exciting and completely unprecedented. i didn't ever think i'd be on

a torture. talking about sound g iranian piece. alum ordeal to restore diplomatic relations between inform arrivals. iran and ravia could derail israel strategy in the middle east. the agreement, which was broken by china, is seen as a counterbalance to the u. s. and israel in the region for details on this story on more visit our website oxy dot com international black sea green initiative has been renewed for an additional 60 days while russia confirmed the terms, it published documents counting a statement from care of the said that the deal was in fact for long, full twice as long to avoid any speculations on the term of black sea green initiative. sprawling ation. i publish here the copy of a relevant notification, and he claimed that his prolonged for more than 60 days ease, either wishful thinking or deliberate manipulation. agreements was initially sailed last july between russia and ukraine, while took here on the you and broke it at the deal. it facilitates the shipments

of grain from ukraine's. lexi falls to global markets. the deal also allow the exports of russian grain. i'm fertilizer. but moscow says those terms have not been met due to western sanctions, blocking logistic mechanisms of the needed, even though russian fertilizer and grain haven't actually been sanctioned. russia accused european countries of taking the lion's share of the ukrainian graham instead of allowing it to be shipped to developing nations across live. not to discuss this more with geopolitical unless jo maslanka, thanks very much for joining us this evening. joe. so the great deal has been prolonged for 60 days. you must surely welcome that. oh, it's strange that and again the empire coyote is getting involved and messing things up once more. and it was a bit uncomfortable for russia to see you. and she starting in here and have

a conversation with zalinski without following what they did at 1st because there was a new play. and because of the level of transparency on how the bush issues were done be a problem. few weeks ago we had a similar conversation where we question, why was he stepping in to, to have this conversation without considering how much was feeling about them. so it is a bit of a problem because now what russia knows and what it is distributing out there, it's conflicting each other. we did indicate to be even few weeks ago to say anything that has wasted into, you know, it would be very hard to reach me. you will agree with most

people because the work will always not sticking into the agreement that we have seen that they've been doing around the was not the 1st, not the seems to be a bit of confusion as to how long has actually been renewed for 60 days here said 120 days, it probably would have been better given countries more peace of mind and security . had it been prolonged for 120 days. now. again, that is why it's not straight because the person that was supposed to be so called you and people who are supposed to be in between people are supposed to be brokering this kind of deals. they left the confusion. now at this point in time, we don't show you have is telling us something, maybe you decide what they discuss with you and she, why didn't you call all the parties involved in? could you take that was the media about why, why the terms and conditions have shifted right now?

that is where the problem is. you know, so the, when the whole agenda of this whole fee to make sure there was blood pressure, it's also to, in show, to put russian economy on its knees. that's what the west is trying to do. because they are the ones that i did. 82 q 3, g. what to do and what not to do? no, russia has said that it is willing to export grain to those that need it most for free. and despite russian fertilizers and great actually not been sanctioned, russia still says that it is affecting the logistics and has affected exports. why in your opinion, joe, do you think that the international community, the un secchia, could do to facilitate this? the problem is it's the most core does not have what the west end are you any saying? because they said they do something out. yes,

you can say that big grain fertilize us section is not function. but then we'll make it difficult for russia to distribute needed countries even say there was applied to upgrade for free. but irrational saying that it will mean it will be in a would like it to be, what was she wants to with african countries. so the west is not going out of it, it's going to make it difficult so that the whole entire world can be a complete life is willing to supply is willing to leave out to the stand up of the deal and agreement. but the partners that they have to do with these li issue, they're not honest, they're not people that you can see and have a conversation where you can have agreement and then you walk out knowing exactly. so the agenda is not necessarily coming from q. it comes from washington, it comes from london,

comes from you who want to make sure that they bring lasha or need economy, or geopolitical unless jo, miss anger, thanks very much for your time today on that revised grain deal. thank you. and you know, the news, the democratic republic of the congo is seeking immediate cooperation with russia to combat terror threats in the country and ensure peace and stability. well, that's one of the messages coming out of the 2nd annual russia africa international parliamentary conference is taking place in moscow. right now, are these marina call server takes us from the highlights of the events so far. this is all about, of course, strengthening ties between russia and africa. as russia goes away from the west and segues different corporations walk orations that show how multi polar this world is . and russia and africa was very interested in that. and here today we have delegations from over 40 african countries, the majority of african countries i should say,

and they're having conversations with russia's business and political leads and they're discussing things such as corporation when it comes to fields of science and also education. we know that there, around the $35000.00 african students in russia right now. 6000 of them are here on a scholarship there increase in that number. they're actually almost doubling the number. if you compare it's 2021. they're also discussing their a responses to economic challenges. also, another issue is the struggle. although western neo colonialism but a subject that's very sensitive in particular pores for africans. and then of course we have the issue of global security. they're seeking ways of how they can incorporate and into a peace and stability in russia, and also on the african continent. we heard from the democratic republic of congo, asking for urgent assistance from russia as it battles, terabytes in the east of the country. and also russia's us, they do much higher person, also spoke with representatives from molly's central african republic, zimbabwe, and many,

many more. and it's all about how can they be mutually beneficial to each other. and this is all, of course, on the backdrop we are expecting. and major russia, africa summit in july in st. petersburg. so this is in the way as a test drive right before that, even though this is already the 2nd, i enter a national and to plan a very session that we're seeing so far. this is and it's just kicked off day, want still have a lot ahead with the events we discuss cooperation between russia and africa with the secretary general of the pan african youth union and a member of the parliament in cameroon. russia has it right to do what he wants to do. russia has the right to develop in suicide. so nobody can question beside his wisdom because the prism is country even issue has grown philosophy of development up processes to follow. so i can question what georgia is doing. no. can i see that governor christian governor and i used to go to sort of diversify his interest. of

course, the were, i think the african countries are independent sovereign states. we do have the right of choice, and we do have the right to determine what is beneficial to us in terms of the kind of relationship that we both would wouldn't was. did russia is nicole m as in african countries under contractors. and one of the countries that supported the liberation of many african countries doesn't got an impact. yes, it does have an impact. remember, the remnants of colonial thrills on the continent. so if you look at anglo from africa, francophone africa, definitely you find that colonialist are still trying to fight for a day as well. yes, it does. it does have on if i, but i want to see that african countries, including the young people, are more determined now than ever to force our government to build relationships that are beneficial to i because well, in the other letters it's, i'm not beneficial to us and that's what he sees interested in booking. also does i

see this isn't molly viewed as julian guinea does? well, you realize that most countries that our friends are beginning to rebel against our colonial back dollar sign. the cost is not beneficial to us. and for us as young people, we want our governments to explore and get more beneficial relationships with other countries. russia inclusive because with russia, a strategic country to, to, to us, africans, and give support us. even when we need that to, to, to struggle out of colonialism. finally, the economic and monetary community of central african states has met in cameron's capital to discuss how to strengthen the box. common currency locals in the region are unhappy with the sewing interest rates that have come with continued lending to the country from the international monetary fund. less improvement to the economic outlook. cumberland journalist brings us montes house, lead us of this sub regional, central africa, economic and monetary community, not by its french aconia, a c mac, met in cameron's capitol, yeah, wound it,

and deliberate at west of strengthening its currency the frank. see if yes. meanwhile, there has been an outcry from citizens who say the blocks use of this, see if you pick today, euro coupled with massive wounds from western institutions are harmful to the economist. this summit is over, but these leaders are returning to battle economic challenges in their countries which minute blame on western interference. and it's near colonialism. institutions the covey, 19 pandemic, which the i yet to recover from has friend that them vulnerable before western monetary institutions. however, the citizens of these nations are decrying the iron grip of the west on somal economists through their continuing dwelling of loons. ems at maintaining western imperialism you talk about and parallel ism is, is how to, to,

to force the said mac countries to steam grew to the missionary of the french republic. this remarks softly jeanette block recently re designed its currency, but x by sir, no country can each by borrowing. meanwhile, auditing lending is a strategy by the west to indirectly control the resources of this. what they simply do is in store in iraq region, either him or pitched it and then through the route region, because still whatever they want and nobody will do anything. and i am of keeps borrowing their money is because i'm of is giving with a, with the, with the left hand in the car, in front of the camera and collecting with the right hand in the duck. true dis, borrowing, which often comes with high interest rates. so my country's has lost some of the prostate us to the west, bears on the i miss structure. i just made programs when you are a government and it is i am. that is deciding how economics will run. i, you

a state i, you saw rent. so sovereignty is on paper, but i am have under west abdicating what happens aside from dishing he psalms to this country is or does have called on the west to ensure that the loons given accomplish its intended purpose. if the i year, if they have, they are missionaries who are yet to supervise to see how forms are been managed. i think it will be on accountability concerns of the i mean stifling dis economist to lose have been ongoing for years, irrespective of whether they lose missions accomplished or not. the situ of young camaro, nuns is more gauge that we do not know how that money is going to repeat. the future is what gauge, because no, not juniors and octogenarians have to be faked. now, whatever happens to the youthful population is not the ambitious with the current

situation. the suffering masses are hoping that one day things will change. what have you been on the 2? i hope you've had a great we cannot solve for me, peter scott. but rachel blevins will be taken over to take you through all the top stories as we head into the evening this sunday, thanks for watching. ah, ah,

ah. ah ah, there is a need to video gym leads to, to play form united addiction system. ben doesn't, it's on a one, has to maintain its credibility. it is sort of ongoing that one system must read a form to make, could want contemporaneous, to make itself look now in terms of being the presenter to pull off the reality of the dollar. and also therefore, you know, being more effective in resolving issues and then shorting piece that of the world .