ah, ah no ah, what a mirror makes is the prize visit to mario full and the public touring reconstruction projects. and the devastated with joe switzerland's biggest bank u. b. s. and credit rates are and talks to emerge as the contagion from their recent banking collapse in the us spreads internationally. also ahead, i didn't see any issue with saudi arabia says the path is clear to restore bilateral ties with iran. following a deal brokered by china, which brought the 2 former rivals together and moscow host,

the 2nd annual russia africa international conference with delegation from over 40 african nations taking part in the event with coming to you live from the russian capital. this is the weekly on our t and national. i'm rachel lab here with the top stories of this week and today. welcome to the program. russian president vladimir putin made a surprise visit to mario paul and then don escrow public. on sunday he drove her on the devastated port city on the eyes of c on a tour of major reconstruction projects. there it was, his 1st visit to the city since russian forces took control last year. falling referendum though in the don that's republic. booting took the opportunity to talk to people there and address their concerns on topics such as getting russian passports and regular salaries. the president was accompanied by russia's deputy

prime minister in charge of regional development. as he visited several parts of the city to inspect the progress of the restoration after intense fighting last spring. them with bully, it's admittedly visible, while the crane and armed forces did here. when we were advancing, we didn't hit anything, but they were firing from tanks, directly, hidden residential buildings that 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 the 3rd room. there were land mines in the medical equipment in the hospital with nazis. normal people would not have done this. president her and also held and meeting at a command post in the nearby russian city of ross dov. and on the kremlin side, the russian leader heard reports from the chief of the general staff, as well as

a number of other members of the military's top brass. in dallas city, local officials say that ukrainian forces have attack several residential areas and damaged local infrastructure. they say one person was killed and another wounded in the attack. this video shows a flock completely destroyed as a result of the strike. and in the her san region, russian emergency services reported that one civilian was killed and 2 others wounded when an explosive device was detonated and destroyed a vehicle. officials say those responsible have yet to be identified. the global financial system has been shaken by the fall out from us base silicon valley bank. now to switzerland's largest wonders credit suisse and u. b as are considering a merge. that could be a catalyst for an overhaul of the global financial system. a sharp drop and credits

we shares this week, raise concerns are cross european financial markets as the major index. it fell on contagion fears across the board. big banks were effective as well. with the banking sector down by 13 percent. this week, goldman sachs predicted financial institutions would remain under pressure until a comprehensive approach is implemented. u. s. market, sorry, dealing with the fall out as well, with banks being propped up with $100000000000.00 bailouts by the federal reserve and the treasury department where you're using all tools that their disposal to mitigate the crisis. a recent study said that more than 180 banks are in danger of collapse due to uninsured deposit, while the government's cash infusion as help prevent a meltdown. the fed failure to disclose all the banks receiving the aid has caused rumors just whirl and has led some margaret waters to express fears of a possible repeat of the 2008 financial crash. amid the concerns

are g correspondent caleb mop. it examines the current people in the u. s. banking industry. 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 a 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 panic 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 on is 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 protected. they knowingly took a risk and when the risk didn't pay off, investors lose their money. that's how capitalism works. i 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 bank that just collapsed and caused panic on the market. an additional $153000000000.00 was borrowed from the federal reserve last week. this columns 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'd actually lend out $249000000000.00. so that doesn't really leave that much of a cushion, right? that say if something happens. so the what happens the us heights 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 a really key point to talk about. the interest rates are the key and critical point . yeah. yeah. so as these interest rates rocketed the, the debt that they have, they have led to the us 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 . you said, well, i need to go and raise that $1000000000.00 now to make sure that my bank is in the block. now what happened when he did that? that's 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 the swiss central bank stepped in to give them a lifeline. financial world is now holding its breath, waiting to see who is next. caleb martin, r t new york. riata says it's ready for bilateral economic cooperation with a ron. this follows a chinese broker to agreement to restore diplomatic relations between saudi arabia and iran. how quickly in your mind do you think we're going to see saudi arabia

making significant investments and vice versa? i would say very quickly, iran is never and have been and would continue to be 400 years. so i don't see any issue that would prevent normalization. of the relationship close investment successful the turning point and the region state of affairs was followed by a statement from saudi arabia, which said the country won't trade with those who impose a price cap or any other restrictions on commodities. if a price care were to be imposed in saudi oil, experts will not sell oil to an encounter that imposes surprise kept on our supply will reduce all production and i would not be surprised if others do the same. the statement came as us lawmakers introduced a bill that would allow the justice department to file anti trust lawsuit 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 earlier, my colleague nikki errant, discuss the prospects for further cooperation between iran and saudi arabia. with a panel of guest 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 non reliable allies are reliable partners. they've shown that an honest 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 is a different iraq today, maybe and target are more willing to understand the dynamics feel free on what's happening in the past decade or negotiation. now 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 that right. it's going to come and what they are going to do. so definitely, iran is a neighbor. it's an untapped market. we expect they have 2 trillion dollars worth of good to an investment and infrastructure. and different police are going to be. it's going to have a stake and iran need some of the neighboring countries can treat 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. i got involved in which i've been stopped by the americans. we must say of customer absolute fortune a certain point. the war was costing a $1000000000.00 a week. the diplomatic deal, as we know, was mediated by age and completely bypassing the us, which is always like to see them at least as its 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 rewards 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 for you is just how worried do you think washington should be about such developments and rhetoric 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 normal calling. the shots, you know, we, commentators, such as myself, are wondering how much longer we use the term us a gemini, when we, when we come on talk shows like, like yours. i'm, you know, really, this is the last nail in the coffin now, of us leadership around the world of fact to the chinese stepped up to the mark and

broke at this deal was pretty amazing. so i think lots of play for very exciting and completely unprecedented. i didn't ever think on be on a talk show, talking about sound g. iranian peace. a landmark deal to restore a diplomatic relations between former rivals or ron and saudi arabia could do rel israel strategy in the middle east. the agreement brokered by china as seen as a counterbalance to the u. s. and israel and the region for more details on visit our website, r t dot com. the international black c green initiative has been renewed for an additional 60 days, while russia confirmed the terms. it published a document countering a statement from diaz, which said the deal was prolonged for twice as long to avoid any speculations on the term of lexi green initiatives prolongation. i published here the copy of a relevant notification,

and the claim that is prolonged for more than 60 days ease, either wishful thinking or deliberate manipulation. agreement was initially sailed boss july between russia and ukraine, while turkey and the un broker the deal, it facilitates the shipment of grain from ukraine's block seaports to global market . the deal also allowed the export of russian grain and fertilizer. but moscow says those terms have not been met due to western sanctions, locking logistic mechanisms that are needed, even though russian fertilizer and great haven't been officially sanctioned. russia accused european countries of taking the lion's share of ukrainian grain. instead of allowing it to be shipped to developing nations earlier, we spoke to geo political analyst joe song, who says the west is doing all that can to create a negative image of russia. the problem is, it's the most core does not trust what the worth and are you in the same because

this thing and they're doing something out. yes, you can say that the grain fertilizer section is not sanctioned by bill will make it difficult for russia to distribute to the needed countries that even say there was applied to upgrade for free. but it russia saying that it will mean it will be in a would like it was a she wants to with african countries. so the west is not going out a bit. it's going to make sure it's difficult so that the whole entire world can believe that is the movement in this conflict. russia is willing to supply russia is willing to leave up to the stand up of the deal and agreement. but the partners that they have to deal with this green 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 want to make sure that they bring russia on it. economy. ah, the democratic republic of the congo is seeking immediate cooperation with russia to him that terror threats and the country, and ensure peace and stability. that's one of the messages coming out of the 2nd in russia, africa international parliamentary conference, taking place in moscow. artes marina culture of takes us through 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, walker ations that show how mole type polar this world is, and washer 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 elite. 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 to 2021. they're also discussing their responses to economic challenges. also, another issue is the struggle. although western neo colonialism but a subject that's very sensitive and particular force for africans. and then of course we have the issue of global security. they're seeking ways of how they can cooperate and ensure 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 in battles, terabytes in the east of the country, and also russia. so 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 a way as a test drive right before that, even though this is already the 2nd international and for planner very session that we're seeing so far. this is and it's just kicked off. they want still have a lot ahead. meanwhile, russia's industry and trade minister has been in cairo to meet with egypt. president, a key focus of the job was expanding cooperation on agriculture, education, trade, and energy with russia, emphasizing the construction of a local nuclear power plant is proceeding ahead of schedule. we spoke with gas at the russia, africa conference about increased cooperation between moscow and the continent. western countries can blame off a couple, any other things. they, for example, keep telling us that the, you know, this is like

a food chain. and africa is the lowest of the food chain. so if you support the wrong person, you are likely to be eaten if things go wrong. but we said no africans, i've been in people, they get to the site, they get to see who conform reliable partnership, with not want to be told around and told what we like to be dealt with in an equal mind with mutual respect. this is what the west sometimes forgets that they need to do with us with mutual respect. sometimes it is lacking induction. so we say overtime russia comes on compliance with supporting and we support where we there's no problem. now even when things where they avoid, we still look back and say, no. russia stood with us who helped to stop by. so we don't care what we keep focus . this is a mutual fund where the congress in america for past,

for government act, let me know some countries. what do you this, what are we wanting to know? i think africa rejected us. you can understand the meeting between the 2nd to update on south africa to the center that were more colony. we have the right to do business with whoever wants to do is to sell it now that africa needs every person for development in north america. so this will allow freak out to be in terms of a grin, defense industries in energy, in this area where we are, africa can partner including also indication that rosanna has a history of the school of so many african conference in the economic and monetary community. the central african states has met in cameron's capital to

discuss how to strengthen the blocks common currency locals in the region are unhappy with soaring interest rates that have come with continued lending to the country from the international monetary fund, with little improvement to the economic outlook a local journalist brings us more details, lead us of this sub regional, central africa, economic and monetary community, not by its french acronym. i see mark met in cameron's capita yonder and deliberate at west of strengthening its currency the francy if here. 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 economists. the 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 coven 19 pandemic, which the i had to recover from has rendered them vulnerable before western monetary institutions. however, the citizens of this nations are decrying the iron grip of the west on somal economists through the continuing dwelling of loons. ems at maintaining western imperialism. we talk about in parallel ism, is, is how to, to, to force the cement countries to stay glued to the missionary of the french republic. this the months, sorry, do not blog recently re designed its currency, but ex, marcia, no country can damage by borrowing. meanwhile, auditing lending is a strategy by the west to indirectly control the resources of states. what they simply do is, in store a iraq region, either him or pitched it. and then through the roof region, the castille, 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. trudy's brain, which often comes with high interest rates. so my country's have lost some of their paras, dittos to the west bez on did i miss structure? i just made programs when you are a government on it is i am that is deciding how i economies will run. i you, if it are, you saw rent. so sovereignty is on paper, but i am of under west of dictating what happens aside from dishing he psalms, to dis, contracts, or does help quote on the west to ensure that the loons given to accomplish its intended purpose. if they are a year, if they have their missionaries what a year to supervise to see how forms are be managed. i think it will be on accountability. consists 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 commercial nuns is more gauge that we do not know how that money is going to be paid. if the choice, what gauge, because no, not canarios 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. the head of rushes, chechen republic has condemned the videos circulating on social media, showing ukrainian soldiers burning. a copy of the koran runs on kara has pledged $10000000.00 roubles, the equivalent of a $130000.00 to any one who catches the perpetrators out of respect r t is not publishing the full video here. the online images appear to show a ukrainian soldier ripping out the pages from the as long calling book and burning

them following harsh criticism from social media users. the video was taken down from tick tock where it was originally post it. she, cassandra shuree thought from the supreme islamic people's council of lebanon, denounced the koran, burning, and called for religious beliefs to be respected as to them all equal more. first, i want to say that the moment i saw this insult to the holy koran, i thought it was an attempt to change the course of the war between ukraine in russia, by redirecting observers attention to the incident with the burning of the cra. as we know orthodox russians are fighting this war between russia and ukraine. we respect all sacred books. we respect all religious beliefs even in afghanistan. when the taliban wanted to destroy buddha statues, we condemned them. and also after they destroyed these statues because they were buddhist shrines, alleys, 400 people have been killed and 900 injured in malawi,

after the longest lasting tropical cyclone on record hit the african nation. the countries president has appealed to the international community for immediate humanitarian aid. mallory is the state of disaster. what cycle of friday has done is to pull us back, even when we were trying to rebuild. because of past tragedies and i appeared to the international community to please look at us with such favor. because we need help. the cyclone called friday by weather trackers has battered the landlocked country for the 2nd time in less than 3 weeks. always authorities declared a 14 day morning period while battling the aftermath of the deadly storm. the south east of africa was hit hardest, with doubts recorded in mozambique and the island nation of madagascar. a local

journalist sent this report from one of the emergency shelter camps. at mind, your primary school is one of the shelters that is used for the displays families. there are pregnant women, young children, and the elder a

damages caused by cypress freddie left most areas and accessible, including eroded breeches in damage. road job is the worst he area with a death or 85 and county where one family last 10 family members in a single night in, you know, as you can see, water has done a lot of damage. we are still searching for our loved ones. a lot of property has been lost as well. many organizations gave donations to support the victims of cyprus, freddy, with a son up after the devastation. the question remains, what will happen to his families now? the secretary r t g o b and that's all for now. be sure to check out our t v dot com for all of the latest breaking news and updates was in right back here at the top of the hour. ah.