three billion dollars last a concert at the moment russian stocks have also slumped including gas brum which provides ukraine with sixty percent of its gas ukraine is also the main transit route for russian gas to europe where gas from has a quarter of the market share the country already owes russia about one point six billion dollars a month for natural gas so for more all the russian economy how it's been affected impacted the north of this i am. financial strain on ukraine i'm now joined by robots awls head of the neo liberal think tank the breweries group the situation at the moment is ukraine nate they say thirty five billion dollars to get themselves back. where is that going to come from because as i understand it it's not going to be one source is going to have to go to several sources in order to get help do you think that that could create some complications in itself. yes the ukraine would become in the bidding itself to other countries around the world offering offering its exchange for financing in exchange for people taking on the ukraine economies dates that create a ba

as a whole relies on gas brum for a third of its natural gas consumption now if you know it relations experts rainer lenders told us that these are losses the e.u. simply cannot afford from the german business perspective we need of course what we call stability in the trade relations germany and russia relations of about seventy five billion euros last year i think this is going to be happen this year as well so we're not in favor of any sanctions what we see now from the brussels summit is that there are some sanctions or at least the negotiations are suspended for the reason liberalization that again hits people actually most that's why i think we need to come back to a diplomatic. negotiations to solve the problems to solve the crisis with russia and ukraine. now the international monetary fund is considering an emergency loan for ukraine to save it from default care of new leaders have said the country needs some thirty five billion dollars over the next two years to keep the economy afloat however a for a country with soaring debt any money from international lenders would come

chemical production plus european consumers get one third of the are natural gas supplies from gas brum and then there's a huge profits from food x. sports to moscow wants that's only half the story russia's contribution to the global economy is also not to be underestimated take madeline's for instance twenty percent of the world's titanium comes from russia and metal used in industries from aviation to jewelry nearly half the world's belayed e.-m. which makes your car greener is mined in russia as well down there is russia's massive contribution and platinum diamonds and many other minerals so any disruption in the supply of those commodities is bound to reverberate across the global economy now let's talk about the sanctions in more detail with financial markets expert patrick young who joins me live from poland patrick it's always great to have you with us here on the show well as we heard the u.s. and the e.u. are imposing sanctions on russia and certain russian and crimean officials i should say what if any impact do they expect to have. at this juncture what we have is really onl