this week the st petersburg international economic forum global business leaders on the political. capital we will be taking a closer look at what was one of the most anticipated meetings between the french and russian leaders. this is the weekly here on our. north korea has taken a highly symbolic step has appeared to destroy its only known nuclear test site in front of the world's cameras on thursday to correspondent used on off was among a select group of journalists invited. we're going to be jeanne international airport as you can see behind me we're being greeted like celebrities who have bills to go to north korea and now we will be proceeding to check in to our flight. so you will counsel and what's the first thing you expect to see it's a bustling crowd people pushing and shoving it's a taxi drivers offering that often overpriced services won't check this out nothing will distort it it's just an empty parking lot and leave buses that will take us to the city. this is where i will be spending the next eleven hours or so my very own oriental express i guess so check out the

the world's business political elite gathered this week in russia's northern capital st petersburg international economic forum brought together more than fifteen thousand business titans investors and politicians on friday a panel of world leaders from russia japan china and france discuss the key economic and political challenges that face the world today. and with george assured that we have to do everything possible to save the deal the us president hasn't closed the doors a negotiation he says he's dissatisfied with a number of issues in the deal but he doesn't exclude talks with iran which is a two way road the door must remain open i think not all is lost. i couldn't change the terms decision on iran but least i tried i explain the disagreement we signed using international efforts i think the president trump has refused to sign a two thousand and fifteen agreement because he was initially signed by a treaty says that he thinks by definition. china hopes for peace and stability on the korean peninsula under no circumstances should we allow water break out in the region that's why we should promote

st petersburg international economic for absorbed local business leaders in the political elite gathering in russia's northern capital visiting a closer look at what was one of the most anticipated meetings between the french and russian leaders. good evening my name is neil harvey this is the weekly here on out. north korea has taken a highly symbolic step as pyongyang appeared to destroy its only known nuclear test site and he did so in front of the world's cameras on thursday r.t. course one as it is donna was among a select group of journalists invited. we're in the beijing international airport and as you can see behind me we're being greeted like celebrities here building through go to north korea and now we will be proceeding to check in to our flight. so you walk out of any airport what's the first thing you expect to see it's a bustling crowd of people pushing and shoving it's a taxi drivers offering their often overpriced services well check this out nothing of the sort here it's just an empty parking lot and three buses that will take us to the city. this is where i will be spe

ok gentlemen it switch gears i just came back from the st petersburg international economic forum up obviously in st petersburg one of the things i find really quite remarkable not the fact that i was there because he'd just been in the united states and you know was got a lot of hugs and you know that his dandruff and taken off his shoulder but he didn't get anything. in st petersburg looked very very different. there was an opening brace and we had to. they drew up a nice prime minister there we had angle merkel that is visited putin twice in sochi gone to china there seems like a lot of movement on the table right now go ahead. if isolation is about fifteen thousand international business figures come into st petersburg that's a very nice isolation i wish many countries in europe these kind of isolation but indeed there are i think it was a success you know mr monk wrong and and then come to st petersburg however in general i don't think has the power to he'd like to he'd like to go up there confrontation with russia unfortunately there you know that article. so-called energy depen

st. petersburg. that is the st. petersburg international economic forum.e are talking to the russian direct investment fund shortly. what will he have to say about vladimir putin's ambition to drive sustained breakthrough in russia? we will have an exclusive interview with christine lagarde of the imf. what will she have to say about the geopolitics in the twist and turns? that is not where the conversation ends in terms of these big headline grabbing names. >> as li na. also coming back, the fed chairman will be speaking along with the bank of england governor and the bank of international settlements general manager. moderated by our head of economics. watch it live on bloomberg tv, radio, and on live go. let's get to bloomberg first word news. reporter: reporter: thank you -- reporter: thank you. north korea was surprised by donald trump's decision to cancel a summit in singapore. the country remains willing to meet with the u.s. at any time. pyongyang vowed to continue to pursue peace and signaled it would give washington more time we consider talks. -

ok gentlemen it switch gears i just came back from the st petersburg international economic forum obviously in st petersburg one of the things i find really quite remarkable not the fact that mccrone was there because he'd just been in the united states and you know we've got a lot of hugs and you know that his dandruff and taken off his shoulder but he didn't do anything. in st petersburg look very very different. there was an open in brace and we had the john they drew up a nice prime minister there we had angle merkel that is visited putin twice in sochi gone to china there seems like a lot of movement on the table right now go ahead. if isolation is about fifteen thousand international business figures come into st petersburg that's a very nice a situation i wish many countries in europe these kind of isolation by the indeed there are i think it was a success you know mr monk wrong and and that come to st petersburg however in general i don't think has the power to he'd like to he'd like to update confrontation with russia unfortunately you know that optical. so-called energy dependence

discussed onstage by vladimir putin and many micron and other world leaders at the st petersburg international economic forum. and israel's supreme court a green light for the continued use of lethal military force against unarmed palestinians in the gaza strip. and read all those stories. on our website to back with headlines again and. have yeah had an up day here with that cable t.v. bill cut the cord we'll tell you where to find free t.v. on this week's show but first congress passes the controversial right to try bill is this the answer to the prayers of those terminally ill i'm holland cook in washington your watching our team america. in his state of the union address president trump said people who are terminally ill should not have to go from country to country to seek a cure i want to give them a chance right here at home it's time for congress to give these wonderful incredible americans the right to try this week congress sent the president what he asked for a law that lets terminally ill patients use medication that has completed preliminary f.d.a. testing and a small scale clinical trial

other world leaders at the st petersburg international economic forum. and supreme court greenlights. military force against palestinians. to have you with us. and donald trump is now hinting ivette a meeting with kim jong un could still take place the sharp u. turn comes less than twenty four hours after the u.s. president called off the summit with north korea in leader scheduled for june in singapore we'll see what happens with the well we thought that was a very much want to do it we were going to see what. everybody plays you know that you know that better than anybody. well the world continues to come to terms with donald trump's unpredictability and just a day after he announced of the historic summit in which he would meet with kim jong un in singapore was called off well now he seems to be hinting that it may be back on the table so what changed his mind once again what appears to have been a statement made by north korea in which they said they were still open to meeting and sitting down with the united states at any time now seems particularly

other world leaders at the st petersburg international economic. israel's supreme court the continued use of lethal military force against unarmed palestinians in the gaza strip. are broadcasting live direct from our studios in moscow. and the glad to have you with us. now historic summit with north korea which was scheduled to take place in singapore next month could be gone u.s. leader has said that washington and pyongyang have been having positive talks and discussing the possibility the u. turn comes after the white house called off the meeting on thursday morning. we'll see what happens with. regard to that now they very much want to do it which i just want to see what. everybody plays you know that you know that better than anybody. well the world continues to come to terms with donald trump's unpredictability and just a day after he announced of the historic summit in which he would meet with kim jong un in singapore was called off well now he seems to be hinting that it may be back on the table so what changed his mind once again what appe

and there you have it the life of vladimir putin and magical macro and thanks to the st petersburg international economic forum are sitting shoulder to shoulder and sharing their thoughts on it here's a taste of the highlights. and we're going to do it sure that we have to do everything possible to save the deal the u.s. president hasn't closed the doors a negotiation he says he's dissatisfied with a number of issues in the deal but he doesn't exclude talks with iran it's a two way road the door must remain open i think not all is lost you know i have jesus trump has lost the battle no one followed his decisions and now we have to make good on fulfilling our obligations. to one of the china hopes for peace and stability on the korean peninsula under no circumstances should we allow war to break out in the region that's why we should promote the process of demilitarization to it just a question i asked for the summit between north korea and the u.s. i think we have to do everything to make this summit happen so that many issues can be resolved. there were two thirds of the situation is that everyone plays

st. petersburg international economic forum.eaking alongside -- all of that moderated by bloomberg's editor in chief. you will find online at go. this is bloomberg. ♪ ♪ guy: welcome back. today is a big day. a really big day when it comes to data. the world's most -- it is designed to protect people in europe. to mean that organizations face huge fines if they fail to comply. what do you need to know? let me tell you. the eu is introducing new rules which affects how companies will store data. that comes into effect on may 25 and apply to any copy that collects personal data of an eu citizen. companies will have to post clear notices and get on ambiguous, consent to collect personal information that includes credit card records.on', travel it affects schools, property management companies and scout groups as well as social media. like uber's attempts to cover up its 2016 data hack will now be punishable with huge fines. for a company with worldwide sales of $100 billion, that could mean penalties of $4 billion in certain circums

st. petersburg international economic forum's presidential plenary.'s editor-in-chief. watch it live, on bloomberg radio and live go on your bloomberg. this is bloomberg. ♪ guy: there are a number to choose from. ashave selected richemont our stock of the hour. it is being battered on numbers being put out by the business earlier on. what seems to be happening is richemont is being forced to buy back some of the watches retailers currently have in their inventory because what they are worried about is that inventory ending up in a secondary market. a are buying back some of that stuff and that is hitting the numbers quite hard. -- stock is trading hard down by 6.99%. we can dig into elements of this stock on the graphic dashboard. that allows us to compare and contrast what is happening with the stock, key metrics, and the rest of the sector. volume is quite high. there are 16 buys on this stock. that is the stock of the hour, richemont not exactly keeping pace with the market. talk about what is going on this weekend. we will play our full interview

praise on russia for its international role as he joined volodymyr putin at the international economic forum in st petersburg we've got the highlights from day one. russia rejects the latest findings of the air crash investigators looking into the mh seventeen tragedy saying their conclusions will lie on social media pictures witness accounts. direct from our studios in moscow this is our team. to have you with us. right after days of uncertainty donald trump has canceled his upcoming meeting with north korea's kim jong own which was scheduled for june in singapore the u.s. leader later gave his reasons to reporters spending much of his time mentioning the american u.s. military and its readiness to act. our military which is by far the most powerful anywhere in the world powerful anywhere in the world is ready if necessary and has been greatly enhanced recently as you well know as you all know already we are more ready than we have ever been before our military as you know has been greatly enhanced greatly enhanced will soon be at a level that it's never been before never been before powerful anywhere in th

also discussed by vladimir putin and the president of france a manual mccraw in the st petersburg international economic forum on thursday. john underscored to everything you promised before you can blow up the tunnels into silence on its tests eight and after that we heard about the cancellation of the summit. and then you know through me what i would really want is for that process already underway to decrease tensions on the peninsula as well as the process of denuclearization in disarmament of the pincher process to continue for a second day of the international economic forum is a busy one more announcements are expected from the russian and french leaders he will address delegates later this afternoon artes to have more on the meeting between the two presidents. the first contact of this year in front of the cameras is going to happen right here. for now if you were diplomatic small none of that tapping on the shoulder but a few smiles were visible out there. now that the presidents are busy talking inside that palace it's all about what they'll choose to say to the journalists in a few hours. and

the international economic forum in russia as northern capital of st petersburg wraps up today airport together more than fifteen thousand business men investors and politicians on friday a pile of world leaders from russia japan and france discussed the main economic and political struggles of today if you're trying to has more. forum's number one congress hall event was precious because rank won in one case to politicians from such a global powerhouse as france russia japan and china talked about everything there is to worry about in international politics today not behind closed doors hot and cold donald trump at one point says no to his talks to kim and decides to ditch the iranian nuclear deal and there you have it the life of lattimer putin and many will macro thanks to the st petersburg international economic forum are sitting shoulder to shoulder and sharing their thoughts on it here's a taste of the highlights. sure that we have to do everything possible to save the deal the u.s. president hasn't closed the doors a negotiation he says he's dissatisfied with a number of issues

st. petersburg for the international economic forum.f france about the importance of russia's countries and world war ii. macrono now to president and listen in. uss. macron: -- have given the premises for building this trust. let me get back to the notion of trust. process which is together.e by stage we were building the infrastructure of europe. we came together despite the difficult context, despite some sanctions. we persevered in developing our energy sectors, french enterprises remained in the russian market during the most difficult times of history. they did not quite russia. in other words, russia is one of the first foreign employers for we also employ 170,000 russian citizens. the eu is the first trade partner and represents 47% far ahead ofts china. there are many other promising projects our companies have signed. agreementsigned 50 just from the visit today. some partnership agreements were signed during a difficult times of our history. we listening to president macrina france and he is gone from world war ii to the pull

and there you have it the life of vladimir putin and magical macro and thanks to the st petersburg international economic forum are sitting shoulder to shoulder and sharing their thoughts on it here's a taste of the highlights. and we're going to do it sure that we have to do everything possible to save the deal the u.s. president hasn't closed the doors a negotiation he says he's dissatisfied with a number of issues in the deal but he doesn't exclude talks with iran it's a two way road the door must remain open i think not all is lost and i offer it is a trump has lost the battle to me no one followed his decisions and now we have to make good on fulfilling our obligations. under the china hopes for peace and stability on the korean peninsula under no circumstances should we allow ball to break out in the region that's why we should promote the process of demilitarization to take i asked for the summit between north korea and the us i think we have to do everything to make this summit happen credit so that many issues can be resolved. the richest situation is that everyone plays football but the use the

french president heaped praise on russia as he joined by the reporter at the international economic forum in st petersburg we've got all highlights from day one. and rejects the latest findings of the air crash investigators looking into the mh seventeen tragedy saying their conclusions rely on social media pictures rather than witness accounts. broadcast live direct from our studios in moscow this is our thomas glad to have you with us. now north korea has shut down its only known nuclear test site in a closing ceremony marked by a series of huge blasts our correspondent you go off was among the small pool of journalists invited to witness the destruction of the facility. oh they were having dinner over there and now everything is being turned into a massive cloud of dust those barracks were used for living for the soldiers too old to locate soldiers and workers there well now north korea is showing that it is destroying the infrastructure to behind me is northern tunnel number two that's where five nuclear tests five most recent nuclear tests have been conducted out of four tunnels around here this one

praise on russia for its international role as he joined rather more putin at the international economic forum in st petersburg we've got all the highlights from day one. and look to reject the latest findings of the air crash investigators are looking into the mh seventeen tragedy saying their conclusions rely on social media pictures rather than witness accounts. of broadcasting live direct from our studios in moscow this is our two international thomas really glad to have you with us. now north korea has shut down its only known nuclear test site in a closing ceremony marked by a series of huge blasts our correspondent you were just on i was among the small pool of journalists invited to witness the dismantling of the facility. this is the first time a crew of foreign journalists have been allowed at this site where witnessing the aftermath of the demolition behind me is what used to be an observation point and this here was the tunnel number two the northern turn and it has endured the past five nuclear tests out of the latest six minutes before they were having dinner over there and now everything is bein

all the numbers and all the things that you were saying are just meaning that the st petersburg international economic forum is getting more mature every year and surely almost two hundred fifty c.e.o.'s that is not no kidding but of course if you look at the names of the leaders that are here as well that's quite impressive traditionally vladimir putin is going to be taken part and his main gast will be president of france emmanuel macron be sunk this the prime minister of japan. plus the vice president of china and also the head of the i.m.f. christine lagarde but you know right now i'm not out the form i'm actually out of a lot of our in st petersburg residents and if you ask me why most of the journalists are here now that is because soon emmanuel macron that i mentioned is arriving that is that very same man who has just recently met donald trump held him by the hand and you must remember all the awkward moments that made people talk about their bromance and a few hours we will find out whether any fraction of that chemistry will happen between vladimir putin and and manual america just think of

this week the st petersburg international economic forum saw global business leaders on the political elite gather in russia's new. we take a closer look at what was one of the most anticipated meetings between the french and russian. also coming up on the program the u.k. government this week is accused of inaction almost one year on from the grand tragedy a public inquiry was launched into why seventy two people lost their lives in the london tower block. but the top stories from the past seven days on right up to the moment developments as well this is the weekly on our team international a highly symbolic step was taken by north korea that destroyed its nuclear test site in front of the world's cameras on thursday r.t. correspondent was among the journalists invited to witness the facility being decommissioned. we're in the beijing international airport and as you can see behind me we're being greeted like celebrities here have bills to go to north korea thing is we aren't even exactly sure as to where exactly we're headed. so you walk out of any airport what's the first thing you

under way in russia as lowball industry leader john political elite scholar for the st petersburg international economic. on the team investigating the crash of malaysia airlines flight m h seventeen in eastern ukraine in twenty fourteen reveal their conclusions like knowledge that they coincide with a blogger's finding. just four pm here in moscow this thursday may the twenty fourth revery you're tuning in from right around the world welcome to our team. north korea sais it has dismantled its only nuclear test facility our correspondent was up at the site among the very few international journalists to witness a history making moment. we've just visited the. nuclear test site which is frankly noble we saw three out of four tunnels there used for nuclear testing one of them the north tunnel actually was used for the latest fall even nuclear test the other two were new and north koreans told us that they had been ready to conduct a nuclear test any movement so for them. the tubes it's inside more of the real way of showing how they're ready to make concessions now these tactical itself was quite impressi

and decides to ditch the are a need nuclear deal and there you have it thanks to the st petersburg international economic forum the likes of emmanuel macron and a lot of our potent are sitting shoulder to shoulder and sharing their thoughts about it with everyone here's an observation all speakers decided not to bash donald trump in the first place or came john on for the possible to rail moment of their talks and expressed hopes that the summit preparations can go back on track the vice president of china even made it clear that his country won't allow war on the korean peninsula. i'm not trying to hope for peace and stability on the korean peninsula under no circumstances should we allow go to break out in the region that's why we should promote the process of demilitarization to use to ask for the summit between north korea and the u.s. i think we have to do everything to make this summit happen so that many issues can be resolved speaking of iran we were once again reassured that pretty much the entire international community apart from the u.s. and israel once the nuclear agreement to hold and we're

and there you have it the life of vladimir putin and emmanuel macro thanks to the st petersburg international economic forum are sitting shoulder to shoulder and sharing their thoughts on it here's a taste of the highlights. and with sure that we have to do everything possible to save the deal the u.s. president hasn't closed the doors a negotiation he says he's dissatisfied with a number of issues in the deal but he doesn't exclude talks with iran which is a two way road the door must remain open i think not all is lost. so i could not change donald trump's decision on iran but at least try to explain that this agreement was signed using international effort i think that president trump has refused to sign the twenty fifteen agreement because it was initially signed by his predecessor who as he thinks bad by definition. shall not try to hope for peace and stability on the korean peninsula under no circumstances should we allow water break out in the region that's why we should promote the process of demilitarization to it just a question i asked for the summit between north korea and the u.s. i think

and there you have it the life of vladimir putin and emmanuel macros thanks to the st petersburg international economic forum are sitting shoulder to shoulder and sharing their thoughts on it here's a taste of the highlights. sure that we have to do everything possible to save the deal the u.s. president hasn't closed the doors a negotiation he says he's dissatisfied with a number of issues in the deal but he doesn't exclude talks with iran it's a two way road the door must remain open i think not all is lost. so i couldn't change donald trump's decision on iran but at least outright explained that this agreement was signed using international effort i think that president trump has refused to sign the twenty fifteen agreement because it was initially signed by his predecessor as he thinks bad by definition. china hopes for peace and stability on the korean peninsula under no circumstances should we allow water breakout in the region that's why we should promote the process of demilitarization to it just a question i asked for the summit between north korea and the u.s. i think we have to do everything

deal and there you have it the life of lattimer putin and manual macro thanks to the st petersburg international economic forum are sitting shoulder to shoulder and sharing their thoughts on it here's a taste of the highlights. and with that we have to do everything possible to save the deal the u.s. president hasn't closed the doors a negotiation he says he's dissatisfied with a number of issues in the deal but he doesn't exclude talks with iran it's a two way road the door must remain open i think not all is lost if they are put in a stall so i couldn't change donald trump's decision on iran but at least outright explain that this agreement was signed using international effort i think that president trump has refused to sign the twenty fifteen agreement because it was initially signed by his predecessor as he thinks bad by definition. china hopes for peace and stability on the korean peninsula under no circumstances should we allow water break out in the region that's why we should promote the process of demilitarization to just a question i asked for the summit between north korea and the u.s. i thin

other world leaders up the st petersburg international economic forum. in october news headlines in israel supreme courts oppose the use of lethal military force against palestinians during this month's deadly clashes along accountable. a very warm welcome to our to international my name's union o'neill good to have your company our top story the first pictures showing the destruction of north korea's only nuclear test site being released our correspondent down off was among the small pool of journalists invited to witness the facility being decommissioned . just go to the birthing center over there and now everything is being turned into a massive cloud of dust. those barracks were used for living for the soldiers too old to locate soldiers and workers there well now north korea is showing that it is destroying the infrastructure to. behind me is northern tunnel number two that's where five nuclear tests five most recent nuclear tests have been conducted out of four tunnels around here this one got the most battering so basically this is north korea say

st. petersburg international economic forum.ch that on bloomberg tv and also on radio and on live . you can see christine lagarde in the chinese and french. this is bloomberg. ♪ what's a gig of data? well, it's a whole day's worth of love songs. 300 minutes of baby videos. or, it's a million chat messages. a gig goes a long way. that's why xfinity mobile lets you pay for data one gig at a time. and with millions of wifi hotspots included, you'll pay less for data. it's a new kind of network designed to save you money. click, call or visit a store today. francine: president pulls out of his meeting with kim jong-un. a expresses surprise, but markets barely blink. likelyd its allies are to increase output in the second half of the year. we are live up from the st. petersburg international forum at midday. panele the presidential with vladimir putin and other presidents. i am francine lacqua with guy johnson in london. a lot of talk about what oil does on the back of that saudi minister. prices start creeping up, it also hurts

underway in russia asked the noble industry leader john paul little scholar for the st petersburg international economic or up. on the team investigating the crash of malaysia airlines flight m h seventeen in eastern ukraine and twenty fourteen revealed their conclusions like knowledge up to coincide with a blogger's finding.

and other world leaders have the st petersburg international economic forum. and israel's supreme court greenlights the continued use of lethal military force against an army. in the gaza strip. you know head over to our web site for more on those stories we will be back with your world news update in about an hour's time with my colleague nic and right now though it is time for cross talk stay with us. lou and welcome across her considered i'm peter summit are no summit that's the question north korea's threat of a no show in singapore on june twelfth is a reminder to washington that north korea will not merely cave to american demands or should i say john bolton's demands if there's going to be an agreement it's going to take time and patience to the americans of the north koreans have enough of either. crosstalk in the upcoming summit i'm joined by my guest kevin martin in washington he's president of peace action and peace action education fund as well as coordinator of the korea peace network also in washington we have jenny town she is managing editor of

will also take part in the st petersburg international economic forum as an ornery guest of the plan you mentioned for tomorrow we have an extensive program of joint events planned we will meet with the representatives of russian and french and business. also i have talked with the coordination account so all of that tran and dialogue and we will. make our statements of the plan a recession of the heart when i'm with you and mark on the grill today we have had to be lateral talks first in an era for much in the and when with the participation of the other members of the delegation we have discussed in detail out of element issues of the russian and french relationships as well as the international agenda items in the internet age and see egremont and commercial documents signed who are specially prepared for the visit of mr mccraw and to russia within the framework of the forum will also sign a number of other corporate agreements which but for the most part founds our traditional partner. and our mutually beneficial relationships are a great value to us we keep developing them and.

st. petersburg international economic forum.tting pressure on russia's economy, falling oil prices. part of that is due to the u.s. fracking industry. for investors interested in fracking, there is an etf for that. this unconventional oil and frak.f trades under unconventionale oil and gas sector. among the 50 holdings are names including occidental petroleum, .nd pioneer natural resources there is only a 25% overlap with xle. mid and small caps and canadian companies provide unique exposure, but also extra volatility. while it has underperformed xle by some 50% since launching in 2012, it is pulling ahead this year, with returns of more than 10%. there is more than $80 million in assets and comes at 54 basis points. it gets a green light in our traffic light system with no infractions. lisa: -- to join us sure every wednesday for bloomberg etf iq, available at 1:00 p.m. new york time every wednesday. and looking at oil prices today, they made a complete u-turn given what we have seen or heard from opec and the president. lisa:

st. petersburg international economic forum in russia. it is an event bringing together business and economic leaders from around the world. this is one hour 10 minutes. >> thank you very much. we have had five very eloquent speeches and now is the time for questions and i hope direct answers. the conversations have gone from football to climate change, but now i want to focus on trust and especially look at three areas where this is an issue. we have the iranian nuclear accord, we have north korea, and we have the u.s.-china trade war. then we will look at russia's relationship with the rest of the world. mr. putin, will you take the first question? there is a nuclear deal signed with iran in 2015. donald trump has unilaterally withdrawn from it. you have condemned this, mr. macron has condemned this. you have said you want to keep the deal, what actions will you take to keep the deal, the iranian nuclear deal alive now? >> [indiscernible] [applause] >> my question, if during the previous sanctions regime, russia supported the sanctions

st. petersburg. that would be the st. petersburg international economic forum. it will not just be world leaders.be energy ministers , the prime among them vladimir putin, emmanuel macron, shinzo abe. most important right now, the energy minister of russia as well as saudi arabia, alexander novak and delete also lay. fale.alid a they have been described as having a bromance because you cannot have one without the other talking about the trajectory of oil. i want to show you my chart here. looking at what i have called the temptation to produce, this is in your own gtv library. the one line here is that production target for oil. for russia you can see that is under 11 million barrels a day, but it is above that now. when you look at a relative to brent crude futures, it is now on the $75 handle. some folks are thinking this might rise higher, but you can see there is pressure to produce as this increases and people want more profits in their pockets. we will be looking ahead to see forum.mes out of the we have the ceo of russian oil giant rosneft. ross and -- russia has been trying to support ira