ah, a lot of marapoo and takes the wheel in a surprise visit to mario paul and russia, john s republic touring reconstruction projects. and the recently devastated city chose switzerland's biggest bank u. b. s. and credit suisse are and talks to merch as the contagion, and the 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 with a ukrainian orthodox church, is rated in an ongoing clam down against was viewed in the country as a break away church with coming to live from the russian capital. this is the weekly on our key international. i'm rachel evans here with the top stories of this week. and today. welcome to the program. months after the city of mario paul and russia don escrow public was devastated. president vladimir putin made a sunday morning visit to discuss rebuilding efforts with local officials. he drove her on the port city on the as of seated to where several of the major reconstruction projects that have been under way following a referendum vote last year and, and on that score. public food check the opportunity to talk with people and address 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 to inspect the progress of the restoration after intense fighting last spring. them with blue, it's immediately visible while the ukraine, an armed forces did hear 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 had 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 previously. president putin and also how the meeting at a command post in the nearby russian city of ross david on the kremlin,

said 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 ras. and another city local officials say that your cranial forces have attacked 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 her san regent, russian emergency services reported that one civilian was killed and 2 others wounded when an explosive device was detonated and destroyed the 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, the largest lenders credit suisse and u. b. s. are considering a merger that could be a catalyst for an overhaul. the global financial system are sharp drop and credit

re shares this week, raise concerns across european financial markets. as major indexes 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 the comprehensive approach is implemented. us markets are dealing with the fall out as well, with banks being propped up with $100000000000.00 bailouts by the federal reserve and the treasury department. what you're using all tools at their disposal to mitigate the crisis or recent study said that more than $180.00 us banks are in danger of collapse due to uninsured deposits. while the government's cash infusion has helped prevent a meltdown. the feds failure to disclose all the banks receiving the aid has caused rumors to swirl and as well as some margaret watchers to express. fears are possible repeat of the 2008 financial crisis. i mean the concerns are g

correspondent caleb mob examines are 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 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. however, 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 column is 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 . 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. so they'd actually lend out $249000000000.00. so that doesn't really leave that much of a cushion, right? that say, if something happens, it's obviously 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 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 those interest rates are rocketed, the debt that they have, they have lent 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. 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 will happen when he did that. that's a huge amount of people. a lot of money in the bank companies, mainly who then there was a what, what we could have run on the bank. so about $13000000000.00 which was withdrawn from the bank routing. 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 a bilateral economic cooperation with k. ron. this follows the chinese brokered agreement to restore the 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 is a neighbor and have been and would continue to be for hundreds of years. so i don't see any sch that would prevent notable i vision of the original sure. across investments successful. the turning point in 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 kept were to be imposed in saudi oil experts, we will not sell oil to an encounter that imposes surprise kept on our supply and will reduce oral 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 deciding energy minister,

the practice were damage to the market and create unintended consequences with the block looking at ways to counter the proposed legislation. earlier my colleagues, nikki errant, discussed the prospect for further co operation between iran and saudi arabia. with the panel of gast, the world is changing very fast, and the united states and the europeans do not have the cloud that they have before . and they've also shown that they're not reliable allies are reliable partners. they've shown that in 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

engines to create divisions. definitely time has changed. the iran is a different iraq today, maybe and target are more willing to understand the dynamics feel free on what's happened in the past decade of negotiation. now remember, there is one of the agreement that we're going to have 2 months period or basically seeing how serious is iran coming to the deal. so it's going to, it's going to have too much of observation or 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 goods and 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 contribute to contribute them back. and this is definitely aligned with vision 2030 as a lot of ground manufacturer, 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 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 were what was 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 that 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 that 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 a completely bypassing the us, which is always like to see the middle east 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 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 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 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 can complete the, unprecedented, i didn't ever think on be on a talk show, talking about sound g. iranian peace, landmark yield to restore diplomatic relations. returning from our rivals or ron and saudi ravia. could you rel israel strategy in the middle east? the agreement preferred by china is seen as a counterbalance to the us and israel in the region. for details on this story and more visit our website, artes dot com. the international black sea green initiative has been renewed were an additional 60 days, while russia confirmed the terms. it published a document countering a statement from kiev, which said the deal was prolonged for twice as long to avoid any speculations on the term of lexi green initiatives. prolongation, i publish 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. the agreement was initially sailed flash july between russia and ukraine, while turkey and the un broker the deal, it facilitates the shipment of great from ukraine's black sea ports to global markets. radio also allowed the export of russian grain and fertilizer. but moscow says those terms have not been met due to western sanctions, walking logistic mechanisms that are needed, even the russian fertilizer and great have not been officially sanctioned. russia accused european countries of taking the lion's share of the premium grain. instead of allowing it to be shipped to developing nations earlier, we spoke to geo political analyst, joe and sang. we says the west is doing all it can to create a negative image of russia. the problem is, it's the most core does not trust what the west end are you and the same because this thing and they're doing something else. 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 conscious that even so there was applied to upgrade for free. but it russia saying that it will mean it will be in a would like it to be in what was a she wants to with african countries. so the west is not going out of it. it's going to mitchell, it's difficult so that the whole entire world can be a complete russia is willing to supply. russia is willing to leave up to the stand up of the agreement. but the partners that they have to deal with these green issue, they're not honest, then 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 the blue russia on it's nice economy the democrats republic of congo is seeking immediate cooperation with russia, taken that terror threats and the country, and ensure peace and stability. that's one of the messages coming out of the 2nd, and we'll russia africa international parliamentary conference taking place here in moscow. our team, marina, kosher 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 multi 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 elites,

and they're discussing things such as o corporation. when that comes to field 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 a 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 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 in battles, terror threats in the east of the country. and also russia states 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 international and to planner recession that we're seeing so far. this is, and it's just kicked off day, want still have a lot ahead. meanwhile, russia as industry and trade minister has been in cairo to meet with egypt, president, a key focus of the talks 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 guest at the russia, africa conference about increased cooperation between moscow in the continent. new subscriptions office, good to the african continent. russia is an important country. first,

russia helped to de colonize africa. we grateful to the russian people for everything that was done to move from colonialism. second, russia is a significant power opponent member of the un security council. we also shouldn't forget that russia is a bricks member, corporation with bricks. countries is very important for us today because our experience shows that 60 years of traditional partnership with home colonial powers gave us nothing. now he wants to use the experience of bricks to overcome the disadvantages of our development. russia has a lot in common with my country as it possesses, almost the same natural resources. but russia also has experience and expertise. we have natural resources, but have a lack of experience. so we would like to use russian experience to help the d. r. c. develop moved desert unified, there would have been a corporate us avec, in our opinion, it's important to develop cooperation with all the countries which promote peace and justice and truly wish to help the development of african nations for africa. russia is an important partner. we hope that russia can contribute to africa's

development, and we also hope to establish a mutually beneficial partnership with a balance of interests at its heart. they economic and monetary community as a central african states has met and cameron's capital to discuss how to strengthen the blocks. common currency well goes in the region, are unhappy with soaring interest rates that have come with continued money to the country from the international monetary fund. with little improvement to the economic outlook, a local journalist springs us more details. lead us of this sub regional central africa, economic and monetary community, not by its french acronym. a say 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 the c at 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 better economic challenges in their countries which minute blame on western interference. and it's near colonialism. institutions . the covey 19th pandemic, which the idea to recover from has rendered them vulnerable before western monetary institutions. however, the citizens of these nations, at decrying the iron grip of the west on somal economists through the continuing dwelling of loons, ems at maintaining western imperialism. you talk about and parallel ism, is how to, to, to force the same mach countries to stay glued to the missionary of the french republic. this, your max saw regional block recently re designed its currency, but x by sir, no country can image by borrow. 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 root region, because still whatever the 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 that power to do with bears on the i'm instructor, i just made through guns. when you i government and it is i am that deciding how to make sure on are you, is it i use of rent? so sovereignty is on paper, but i am on the west. i'm detecting what happened, aside from dishing he psalms, to dis contracts, or does he called on the width to ensure that the loons given accomplish it's

intended purpose. if the year, if they have the missionaries who year to supervise to see how forms are been managed, i think that will be on accountability. conses of the, i mean stifling this economy is truly have been ongoing for years, irrespective of when they lose mission accomplished or not. the feature of the young commercial nuns is more gauge because we do not know how that money is going to be paid. the future is from what gauge because no, not julians, and millions have to be fate. now whatever happens to the youtube population is not the business with the current situation. the suffering masses are hoping that one day things will change. the head of russia is trasha republic has condemned the video circulating on social media, showing ukrainian soldiers burning a copy of the koran roms. uncanny. rock has pledged $10000000.00 roubles,

the equivalent of $130000.00 for anyone who catches the perpetrators out of respect . archie is not publishing the full video here. the online images appear to show you korean soldier ripping out pages from the islamic holy book and burning the following harsh criticism from social media users. the video was taken down from tick tock where it was originally posted. shake has san sharif from the supreme islamic people's council of law, but on denounced the koran, burning and called for religious beliefs to be respected molecule model. 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 ukrainian or russian by redirecting observers attention to the incident with the burning of the ground. as we know orthodox russians are fighting this war between russia and ukraine. we respect all sacred books. we respect all religious beliefs,

even enough canister. and when the taliban wanted to destroy bought a statues, we condemned them. and also after they destroyed the statues because they were trying are you for any and orthodox church, was rated on saturday and an ongoing claim down against was viewed in the country as a break away church. videos of the re quickly appeared on social media. angle grinders were used to gain entry to the church, which is located in the west of ukraine. parishioners also reported violent flaring at the scene with at least one man said to be injured. media reports, claim police officers did nothing to stop the raid orthodox believers say they've since been barred from that particular church. this all comes after the head of the russian orthodox church, said ukrainian authorities committed a monstrous act when they ordered monks to leave. one of the christian orthodox is most sacred sites. the pack earth monastery in kiev ukrainian authority have given

the monks and ultimate in saying they could stay in the shrine only if they left their clergy and switched over to the break away orthodox church of ukraine. russia has called on the united nations to intervene. however, the ones chief press secretary responded and said the organization has limited information on the case. russia's foreign ministry took aim at the un lock of action. if you can't give a comment after a direct appeal from the monks to the international community made in several languages, dance, deform, admit to being biased and do not put this on the united nations. that it's a complete loss of credibility or a political order to regularly claim that you don't know anything about what is happening in ukraine. when you boast regularly visit sky of the last time. as recently as of march causes distrust in the us and it's secretariat. we spoke earlier to reverend and professor of the ology who says key has no interest, i'm insuring the safety of the russian orthodox religious community mortgage dreams

of persecution, of monk from their last race are taking place. so it's, it's a situation in which i don't believe that ukraine is not going to do anything. busy busy according to the international law and, and the, according to the un chapter of human rights are decades of, of constant persecution against the ukrainian or the church. but since march of the veteran countries and officials perceive the grain are so sure of the part of the russian orthodox church, and since your is for the common sense among the best lease right now, i must say i would. i would not be surprised if we do not think i'm a phase. i don't think that they are going to even hear up the monks and because

for religious rights to be preserved today, she crane. and that's all for now. be sure to check out our t dot com for all the latest breaking news and updates right back here at the top of the hour. ah, i ah with mm. ah, welcome to well as a part of the united nations security council has the primary responsibility for the.