yes, no euro before our euro system, everyone is there.oint. here i'll draw the euro. well, as if everything is a record. and if it's a record, we're telling us not to care about your record. we are real rubles euros for her, someone spat their real rubles. you know, euroset this is the essence. see the meaning is as follows, the meaning of this system is that you are about the safety of various players from getting a real freeze that can happen in this scheme to make it almost impossible, moreover, this scheme does not violate the restrictions that the european union imposes , there is no central bank anywhere here, so the central bank gazprombank, accordingly, does not fit under the sanctions, respectively, this perimeter can be implemented by any company, the contract is concluded not with countries. they are concluded with specific bas companies and he, respectively, let's put omv, that is, they all act as a buyer. in this case, it is these companies that will gradually switch to this system. and this system will be exactly like this p

first, the euro changes them on the stock exchange. this does not apply to us these euros.hey can't arrest and freeze them, because it's to evrazize them, and then they exchange them for rubles on their own account of this account . wait on on competing with you. uh, radio, which also deals with such topics, which means merchants and my business, which means there was some kind of uncle. i forgot his last name now, unfortunately, i don’t remember, and he said that this here is the problem of the inability to open a ruble account in a russian bank, because of the sanctions. silence exactly in the way that gazprombank proposed because there are some sanctions against gazprombank that are not quite tough. well, then there is no problem. so that's the problem then. no problem. no there is. because he has to exchange. uh, overcome the sanctions. and now, uh, change the received euros of the received euros into rubles and transfer from the ruble account again, as i understand it, but it was said. so uh means the conversion is done by itself lord of gazprombank, you send him a rec

e gazprom and the euro, where will they go, while importers will acquire euros, for example, in order to import goods to russia we did not have ruble accounts. they don't care about euros here in that uh euros will be transferred, but the accounts of european companies, they will not be stored on the accounts of gazprom, that is, in this regard, it will be impossible to arrest gazprom's accounts, because there will be no e- currency. well, and, accordingly, gazprom will need to decide. they will simply go and arrest even there already on the exchange, where there will be an exchange of absolutely ruble. how can you, how can you with this billions of euros? those who enter here dissolve. what are they turning into rubles. you see, they disappear, you know , euros and dollars are bills, uh, that don't care correspond with western banks, you see, that is, we are not eurodor issuers, so you still have an account in a russian bank, but it is still a correspondent account associated with a western bank. this is where the possibility of arresting foreign currency accounts comes from. that's

euro area inflation pushing 8%.petition is different, driven more than commodity, oil, gas prices and it will reverse some extent more quickly. but there is increasing evidence that this is a broadening out and you are beginning to see some and the labor market as well, no question. the same inflation psychology we are worried about in the u.s. is starting to take hold in europe. the ecb is if anything, more concerned about the inflation outcome than the u.s. we think, mark has been talking about the possibility of 50. he has lift off in september. i saw your survey this morning that had consensus into december. we think lift off in september and possibly more aggressively than the 25. lisa: what is the distinction between a slowdown and a recession, policy, the pace of inflation, something else? peter: we have a recession in the u.s. and what we call a growth recession. europe is facing a somewhat different picture. in the u.s., huge fiscal stimulus is being reversed. europe, we see delay in the fiscal picture and

we have seen prices moving up above 200 euros, maybe 300 euros.hen we are trying to kill off as much industrial demand as we need, because there isn't that alternative supplier there, you have to price it up on a very elastic demand curve which means prices shooting up. if you lose so much russian supply you would have to get positive intervention and governments would have to intervene and that would set a new equilibrium price. there is a lot unknown of how prices will shape up over the coming months. guy: you are an expert and i am not. i would like clarity on what the current rules are in terms of paying for russian gas. how is it working, how is it meant to be working? the clarity is very difficult to get. the current rules are you have existing long-term contracts which underpin most of the russian supplies coming into europe. specific terms in which to pay the money for the gas. what the russian mandate has done is that you now have to pay everything, open up one account in euros and dollars, which is the currency in the existing contracts,

jonathan: looking at the move in the euro, it's been brutal over the last month with the euro dollarn about 0.5%. we can all agree it has possible and click haitians. are the latest development problematic for you? >> i think i have always taken this view that the exchange rate is an important economic bellwether for europe. the euro area is a big trading block. the exchange rate matters. when we are working through june, that appreciation will be an important factor. one channel is the mechanical effect on prices but when we think about the investment and exports for the euro area, it's a bigger variable. this move is significant. anyone looking at that and trying to think about market policy, that would be one trend along with the other trends we need to combat should be integrated into an overall assessment into that forecast. lisa: how much does it affect your outlook for a recession in europe? some think the chance of a recession in the european sector is low, do you agree? >> there is still a lot of momentum from the recovery from the pandemic step that's true especially when y

euro-dollar briefly with a 1.05 handle. right now, euro-dollar 1.06. the kremlin responding to the story that bulgaria and poland have had the russian gas cut off by russia. the kremlin saying the gascon office to poland and bulgaria are not black male. they refer to themselves as a reliable energy supplier. tom: the backdrop is the brent crude. could you imagine this discussion if we break out $120? in terms of the time continuum, i would digress over to the agony of netflix or week or two ago, and what we have heard from warner bros. discovery. everything is getting split up in terms of synergies, and i wonder if you are going to see that at the banks. and, frankly, and other sectors as well. jonathan: synergies. you hate that word. what does it really mean to kate? tom: cut costs. jonathan: in a big way. on tv and radio, this is bloomberg. ♪ lisa: keeping you up-to-date with the first word, i'm lisa matteo. it is a major escalation in the standoff between russia and europe over energy supplies. moscow will cut off the floor of natural gas to poland

the euro is extremely weak. the ecb has to react, and one of the reasons is because we have a conflict between nato as a proxy war with russia, negative interest rates are a way to reduce the value of your currency. i sat in the meetings with ecb regarding this, and that means they have to move out of -20 very quickly. that should happen in july. lisa: i was looking at the dxy index. it is the strongest going back to march 2020, but reaching the highest level it has an in years. at what point do something break? sebastien: it is a good question. the question you should ask is, where can i find safety in the world? is it in the back end of the u.s. treasury curve or in the dollar? the answer is a combination of both, but the dollar is a safer one that creates momentum, but also helps manage inflation. that means oil prices in dollar terms are somewhat lower. other commodities are easier and it is not as bad for the fed in terms of its hiking cycle. said that, he probably needs to be aggressive to control the narr

distinctive for the euro.t looks like it will remain that way. it could get worse if the fed moves as fast as it is telegraphing, the ecb is unable to move, or moves very slowly. jonathan: what is the more important driver right now, the fed or the situation in china? stephen: the most important driver for euro-dollar? jonathan: for the single currency. stephen: well, over the last couple of, since the end of last week, the more important moves in fx have been in the rmb. to the degree that has move the asian currency complex, effectively the rmb moves with weakness happening in other asian currencies before hand. the way the euro has treated subsequently to that move in the rmb, you see it has been parked for the near term by pboc. the way the rmb has moved -- the way the euro has moved since the rmb has been parked, very limited if any reserve demand for euros. if that is true, that is telling on a number of different fronts. jonathan: great to catch up. stephen gallo bmo capital markets. i am sure, lisa, th

euro-dollar at $1.06.m new york, for our audience worldwide, and on radio and tv, this is bloomberg surveillance. ♪ this is xfinity rewards. our way of saying thanks, with rewards for the whole family! from epic trips... to the original jurassic park... on us. join over 3 million members and start enjoying rewards like these, and so much more in the xfinity app! and check out jurassic world: dominion, in theaters june 10th. (announcer) enough with the calorie counting, carb cutting, diet fatigue, and stress. just taking one golo release capsule with three balanced meals a day has been clinically proven to repair metabolism, optimize insulin levels, and balance the hormones that make weight loss easy. release works with your body, not against it, so you can put dieting behind you and go live your life. head to golo.com now to join the over 2 million people who have found the right way to lose weight and get healthier with golo. jonathan: a big week for big tech. it starts off at the close a little bit later

the euro, trading 105.he pound is under a bit of pressure as well where the dollar just keeps going from strength to strength. kailey: it's been a consistently stronger dollar. every single currency getting weaker against the u.s. dollar and it comes back to the conversation about rate differentials and the divergence in monetary policy and the biggest underperformer is the japanese yen. at the same time the federal reserve is trying hard to get inflation under control and they plan to be aggressive to do so. europe and the ecb in particular , how do they did that in the middle of growth concerns and you are seeing that reflected in the currencies, the euro and the pound. guy: one big air pocket under 103, with the other factor as well, the chinese currency weakening significantly, playing again into the narrative around euro-dollar. the gas story front and center, we will look for some answers as to what the rules are regarding paying for russian gas. can you pay in dollars? euros? if you use rubles, what

we did not have such euro. it's not in russia . i think it pretty clearly. it is not something i think it's absolutely clear. i'm afraid that the big countries like the us will not accept neither accept doing away with the or introducing override us. as you say, i'm afraid we are not getting any clues to to government, but if we can use what you did to reform and improve. absolutely, excellent, but do not throw away the little we have in terms of the national mechanism for dealing with with war and peace, which is the security council as we have it, it's better than if the alternative is nothing. it is clearly better. it still has its use as professor mads and denies in oslo. thank you very much. here are some of the other stories related to the ukraine war that were falling for a this hour. the mayor of the besieged ukrainian city of mary. opal says the city has become quote, unlivable. he said there was no water, no food, no power, nor medicine. some 120000 people remain trapped. and mary o bull, which has endured over a month of russian shelling allegatio

i will show you what is going on with the euro. euro-dollar now back above 108.has provided an uptick. we are now trading around 108. that's been pushed down sharply. we are narrowing some of the losses. the market was present for volatility. there was an expectations for a short squeeze but we got the opposite today. trading 107.95. what we are seeing gathering pace is a move in the bond market. you can see it unsurprisingly after we got those comments from mr. williams in conversation with mike mckee, the suggestion is a strong push on 50 basis points. you have got an upside move at 12 basis points now, 2.4, and you are seeing that across a lot of markets. brent crude is down. a quick look at the breakdown and composition of the markets. everything positive. trading at 10772. a quick look at the breakdown of the market today. broadly, everything is positive. travel and leisure has been the standout story. the central eastern european out with strong guidance today, upping guidance. that helped. let's talk individual stocks. very positive. the real struggle at t

e gazprom and the euro, where will they go, while importers will acquire euros, for example, in orderort goods into russia, then what are we in ruble accounts for, we don’t care about them. the euro here is that euros will be transferred, but the accounts of european companies they will not be stored in the accounts of gazprom, that is, in this according to the plan, it will be impossible to arrest gazprom's accounts, because there will be no e-currency there. well, and, accordingly, gazprom will need to decide. they will simply go and arrest that there is an as exchange, where the exchange will be ridiculous, in general, they cannot be drawn from the exchange in rubles. how can you, how can you get up no, and we, at the same time, do not dissolve the euros that come here. what do they turn rubles into?

the e u imports 20000000 euros of russian cold daily. but that's a fraction of what it pays for russian oil and gas whopping 850000000 euros daily. of the sanctions package is the use fit since the beginning of the war. and that includes a raft of measures. aside from putting a stop to coal imports at bands russian ships from you ports, add the russian bank v t b to a list of sanctions, financial institutions, and benz e u. exports of advanced computer chips and machinery to russia. the you also want to help the ukraine by sending it more money for weapons. 500000000 euros. to be exact. you council president charles michelle confirming the proposal in a tweet saying once approved, it would bring the total of e u funding for military equipment to $1500000000.00 euros or $4000000.00 ukrainians have fled their whole land since the beginning of the war . the majority of them to poland. now some are returning to areas defended or recaptured by the ukrainian army, such as around the capitol. keith, of a residence as well as businesses. little

that includes. euro's is about 1400000000 years from you institutions and 2000000000 euros from the european investment bank. other big donors include ukraine's neighbor, poland with 1000000000 euros. estonia has given about $200000000.00 to very generous amount as that it represents 0 point one percent of the countries gross amount of domestic product far more than any other country. now, maria de merits. this is the deputy director at the google thing tank. she joins me now where you thank you so much for being here. so we just saw a chart showing will look like the u. s. far up, pacing the you in terms of military and humanitarian aid for ukraine. what do you make of that is the you doing enough? not doing enough. well, ivan, as you said yourself collectively there you has given number of amounts of money that the numbers at least are comparable to the u. s. i think perhaps the most interesting comparison is to compare the, the numbers in terms of g, d, p. and as you said elsewhere early in the report of the store, estonian and countries that are actually closer to the border to ukraine h

the euro/dollar around $1.05. he was saying currency depreciation is going to be an important factor as they shape projections. what you see the influence of a weaker euro being on the ecb? >> prices are going up everywhere, even if the currency is appreciating. the u.s. dollar is appreciating and yet imported prices are going up. i think at the margin it makes the ecb slightly more willing to hike but i do not think it moves the needle itself. real interest rate differentials on the two-year and tenure have gone up significantly in the u.s. the move in euro/dollar, i don't think it is about a russian premium or stagflation premium. it is similar to dollar/yen. real interest rates have moved. i think being short euro is not great. as bond yields increase come you can see money that has left europe come back. the balance of payments may move slightly better as exports from eurozone begin. i don't think this is the best place to play a longer dollar story. china has the opposite story. things are going to deteriorat

the underlying fundamentals of the euro are quite weak.rade fundamentals have deteriorated and it looks like we are going to have prolonged war, moving further away from a cease fire or if it looks like we are moving closer to a severe energy supply shock, i think fx investors will be more comfortable entering short euro-dollar positions, as the fed tightens. that will probably be a second or third consideration for these euro-dollar shorts, the first being geopolitics, but it is certainly something that is in the background that would help the short euro-dollar trade. kailey: so that is the fed relationship with the ecb. what about the boe versus the ecb? stephen: if you are talking about the fed and boe, the primary one you have to look at is cable. this issue of the boe not having monthly meetings is a bit of a headache for the mpc right now because there is a clearly a risk of the bank falling behind. if the fed goes an additional 125 basis points by the end of july and the boe moves in increments of 25 basis points at the next few mee

the euro area inflation rights just hit 7.5%.t the reading on friday, a record since the euro started. we have record rates in a lot of euro area countries. the more hawkish members of the ecb governing council said we need to act and soon. so what is keeping the ecb from doing anything? they need to end the bond purchases first. this month they are ending the special bond purchase program they have that they introduced during the pandemic what they still have their old bond purchasing program, qe that started in 2015 and that needs to end this year. now the slovenian central bank governor my colleague spoke to yesterday. he said he can imagine that program ending at the beginning of the third quarter and that would potentially open up the ecb for starting to hike rates may be in september. your member friday the dutch central bank chief who is -- he said he could see a rate hike anytime from september. one a rate hike seems to be there, even the most dovish members seem to be on board with that. money markets are much more aggre

of weak euro or euro unraveling?is dollar rally has come into fits and starts. the dollar sort of settles in. the pace of euro weakness has not been huge. it used to be you would think the europeans would welcome a weaker euro but inflation is such an issue, it has become more of a problem. the weaker euro feeds into imported price pressures. as opposed to japan where we start to hear this more and more, but i have the march 2020 1.06 hi for euro. we are talking 4 percentage points. it is all about pace in the foreign-exchange market. for now, i like the dollar higher. the pace has been controlled, moving up in little ranges from time to time. any euro bull, we have 125 basis points of tightening over the next 12 months, which is way aggressive but much more -- it was zero expected at the beginning of the year. the fed is swamping everything. lisa: if the ecb moves that many times, raise rates repeatedly over four sessions, you think that is not enough? that is already priced into where the euro is versus fed expecta

tom: euro, 1.0676. the dollar right now buttressed up against 1.02. it does come down to all that we covered, economics, finance, and investment, and rebounds on washington as well. you wonder how this boom they are having in big tech will be greeted in washington. lisa: a lot of democrats pushing back on the idea of elon musk taking over twitter. on a larger scale in washington, i think more interesting possibly protect is what -- possibly for tech is what the fed decides to do. have weak priced in tighter policy with a $215 billion hole in tech evaluations that were erased in april? have we priced it all in, or is there more to go? tom: bonds are giving me no love at all. five basis points on the 10 year right now, in from the 2.80 percent level. our bonds giving a signal? jonathan: i think a bit of a growth scare in the last 24 hours, but it has been brief, so i thing we got to see how things work out in china. that is how we started the week, with yields lower. yields lower again today by four basis points to 2.77%, but crude is higher and we got

he promises a 1000000000 euros that here can use to buy weapons. ah, and the ukrainian band hoping to highlight the plight of a country by winning the eurovision song contest. ah, i'm really mohammed, thanks for joining us. ukrainian troops are digging in across the country's east and anticipation of a new russian offensive. pockets of defenders still hold out in the ruins of the besieged port city of mario paul and russia has renewed heavy shelling of ukraine, 2nd largest city car. keith, military, experts, fear the next attack will be much worse. more russian rockets falling on kind of keys. it's the latest strike to hit the city in a deadly week with many civilians among the dead and injured. at this time, at least 2 people were killed with over a dozen more wounded ukrainian officials here the bombardment is just the prelude to a new assault on the strategically important city. just 40 kilometers from the russian border. far to the southeast brushing forces gather for a new offensive on another key target. mother, you pull the port city has bee

in euros.is a contract. and this is not news. this is a clear position of all european countries of communication, which we have built a strong attempt. again us pit against each other, perhaps split again failed. we are well prepared for all the decisions that putin makes on gas rates to germany are stable. stocks in storage are growing . it is important for us that we do not give a signal that we will allow putin to blackmail. nobody in europe is ready to pay us in rubles. this contradicts the signed contracts of the signals of our ministers and the ministers of the g7 countries were very clear no one in europe would pay rubles. actually. we don't even know what rubles look like. we have paid advance payment for gas supplies to bulgaria to gazprom export for april in dollars in accordance with the agreement payment confirmed by the bank approval from gazprom export to pay for gas in rubles letters or drafts of a written agreement have not yet been received. if we postpone this russian demand

we introduced hikes, weight hikes, my 100 -- wage hikes, by 100 euros a month, up to 400 euros at the end. we have not finished. i know how much we owe to these people. i know how difficult it is. because there's a srtfall in doctors and nurses. in nursing assistants. but i do know that what is difficult nowadays are actually the working conditions. we need to go on investing in the environment. to restore hospitals to hire -- again, the only way to do that is to improve the working environment and invest a number of measures. and we can come back to that later. a number of measures we can introduce to put an end to these medical deserts. where there are no doctors. what we want to do is have hospitals, practice doctors, and other health care workers, pharmacists, physiotherapists working together to structure health care, at the local level. and also make sure that you have someone you can turn to, when you have a health care. which is why am happy to invest significantly. >> if you are elected president, in 2027, will hospitals be a lot better? >> yes, it will. it will be a lot bett

she make some 50 euros a month. her brother earns between $60.12 euros, though their income does very even together, it doesn't stretch to a middle class income. that's why they prefer to buy single sashes. it gives them flexibility, but over the long term it's an expensive way of managing their household. a large bottle of shampoo or laundry soap would be 20 percent cheaper than the same amount in st chaise in back to what he wouldn't matter, but says shays are the main range in local stores that that, that, that can yeah. many people need these sessions, so we got lots of customers. you got what law may they more in demand because they're easier to use. soccer that we buy customers spend $1000.00 or 2000 repairs, but then go get a low. it's very cheap for them. who do audi will and be then there be a gamble. my guy there. so cheap that even down at the riverside says she's are used for doing the laundry. the way it always was appalling. i sometimes i only buy one sashay, sometimes to ally can sometimes i have a lo

it can grow all this week what the euro imitated today by 42 kopecks. this is such a symbolic rebound, because over the previous two days the euro sank by 3 rubles. the british authorities announced today that they are going to deprive the moscow exchange of the status of a recognized stock exchange. this means that investors who will trade on the moscow exchange in the future will not be able to take advantage of tax incentives in their home country, the british authorities. they say that this measure should isolate russia even more. but at least now it looks conditional, because the russian central bank in any case, as long as it prohibits non-residents from trading in shares on the moscow exchange , russia will challenge the freezing of gold and foreign exchange reserves in court. and already preparing lawsuits said today in the state duma. the head of the central bank , elvira nabiullina, freezes herself. she called it unprecedented, but emphasized that the reserves are considered not arrested, but frozen and cannot be used, but they were not seized

is state on bank has issued the factory a low interest loan with 450000 euros. it's manager hopes it'll be enough to keep the company afloat during the locked down. so i had no access to cash because of the outbreak. and then suddenly this loan provides a lifeline fan. ching lighter houses. no one knows how long the lockdown will last . even with very low case numbers. chinese authorities impose curfews mass testing and seal of entire cities the case now in shanghai, state media reporting that these measures could reduce new infections to 0 within 2 weeks. this is also the hope of the owners of shut companies in stow us who all fear for their businesses or correspondence, old song, hans, as the desperation from the lockdown and shanghai is growing people. the frustration is growing and it's shocking to the residence of different beauties, champion slogans like live, restriction or give us food or we will die from hunger. we also see small writers trying to rush out to get health care, food, and other life necessities. many more people talk to chinese social medi

compared to1 million euros in around 30 million euros in energy compared to 1 million euros in aid toly germany given its prominence. shill particularly germany given its prominence-— particularly germany given its prominence. all of this on the backdrop _ prominence. all of this on the backdrop of — prominence. all of this on the backdrop of this _ prominence. all of this on the backdrop of this impending i prominence. all of this on the i backdrop of this impending offensive in the donbas region in the east which for days now we have been watching and waiting and preparing for. , , , ., ., for. yes, six, seven weeks ago we had this feeling _ for. yes, six, seven weeks ago we had this feeling of _ for. yes, six, seven weeks ago we had this feeling of absolute - had this feeling of absolute impending doom, waking up to those headlines— impending doom, waking up to those headlines that russia had invaded. it headlines that russia had invaded. it was _ headlines that russia had invaded. it was the — headlines that russia had invaded. it was the least surprising but still shocking headli

previously, they ensured the stability of the euro.elped the euro to be an expensive currency, now they will help the ruble only on one to this psychological component on one. and on one realization that russian hydrocarbons. gas will be sold for rubles, and the ruble has strengthened. this helped the ruble. because what is happening economically in the world is called the disintegration of world dollars and the system into currency zones, and one of the umbrellas will be in rubles, there will be some agreements, there will be some agreements and something else. but, in general, as i understand it, we have embarked on this path already forever gas. regularly working for export at the maximum remains and the application for transit through ukraine demand for blue fuel is now large contracts for may gas supplies to europe today rose to one and a half thousand dollars dmitry kochetkov pavel rudakov elena shtokolova yuriy yarchenko. channel one how is it possible to want to receive gas, but continue to harm the russian economy in germany,

the equivalent of just under 2 euros. they sort the plastic waste by color and type white for the white plastic bottles, for example, we get up to 20 rupees per killer. but with that, we pay the wages and bills i can even put a little of it aside, was how much ality of law once it's all sorted worker shred the plastic by hand for the equivalent of $5.00 euros a day. they do not wear protective clothing. the end result is a granular that is delivered to wholesalers for further processing. oh yeah. well i, you guys done. you're lucky or is anything left to him? there are thousands of recycling plants and da robbie. most of the cities, plastic waste gets sorted in the slum. now you got the body to ravi is actually quite big. lots of people live here and run businesses, raise that kids and take care of their families. it's difficult for businesses to pay taxes. still people managed to get by mahash earns the equivalent of $500.00 euros a month. that's pretty average and mom buy, but it's around 10 times as much as in the rest

the price yesterday crossed the bar of 2 euros. here.st me almost 78 euros for 41 liters. it is not right. it's wrong such prices hit the pocket increase in gasoline prices have increased cases of theft of fuel by coal miners. because of what they are forced to adapt to the situation. every monday morning. this man is facing the same problem with thieves leaking gasoline from his trucks. it is clear that someone opened the gas tank and it is clear that it was done by force, since the tank cap was damaged. everything was fine here friday night. we returned on monday morning. we saw the remains of gasoline around trucks and open gas tank caps. it's very difficult to count. the exact amount of fuel stolen, but it happened. that's why we installed an alarm system and a camera, which i hope will deter these people from this situation. please show us the footage that we are currently receiving in real time. this is india new delhi foreign minister lavrov following a meeting with his indian jai shankar colleague, they are holding a press confer

euro stocks 60 up 0.3%.of europe should impact the european equity picture this morning. manus: i know everybody throws bonds at the screen, but the time is right to buy growth and value, positioning is too bearish. did you buy enough yogurt? first quarter, that is the fastest growth in seven years. it is driven by bottled water. you have a set of numbers, they are the makers of evian and yogurt. let's talk about war in the currency markets. is it king dollar still? it is rolling over, down this morning. that breathless speed with which the yen has imploded may be in for a pause driven by intervention, maybe a movement away from yield curve control. the bank of japan are fully involved in the market today. a 5% plunge yesterday. hedge funds are dumping oil. jp morgan has a huge call. if europe cut off russian oil quick and aggressive, you could see $185. just put that thought out there. a couple of big market stories out of the asia-pacific region. in china the central bank is out with a weaker daily fixing.

month the price of energy carriers here increased by 226 euros. test ankl, which tests the purchasing power of belgians, has already stated that the burden of paying utility bills becomes too heavy for a huge number of families in the kingdom. in this regard, this organization has already addressed the competent minister with an open letter, in which it demanded to remove state fees and costs for the transportation of energy and for final payments. this document, in the form of an open letter, has already been signed by more than 50,000 people. man, rising energy prices are hurting purchasing power across the eu so today bloomberg is releasing data that the german index is consumer sentiment has fallen to historic lows, and in france in france has fallen to its lowest level since 2018, that is, since the last energy crisis that led to the emergence of the yellow vest movement regina sevastyanova european bureau. bogatyrka, brussels belgium arctic hectare is the name of a new program that should help the development of the region, who and how can a

that's roughly 12 euro cents. it's a huge environmental problem. empty plastic sashes are all over and they're non recyclable. environmental as teaser, my fear thinks it's monstrous that these packages are still being manufactured. she's fighting for a plastic re world. every single region in indonesia will have a traditional market and they used to sell daily items in bulk. they sell it in bulk. we would go there with our own containers. we'd get a keela rice, maybe if you add bringing our own basket. none of them were packaged and that went on fine. the same goes for so we could buy so far as back then there was no problem at all. we didn't have to buy liquids though infectious about 50 percent of global sasha production is based in se asia, and the region is where most of them are sold, a lucrative business. a lot of the gran, that whose names are on this actually packages our brand of multinational fast moving consumer goods, who companies are all around the world. and they've originated in developed countries

where's the euro need to make sure there's a pendant? as a lensky is calling for a reform. ok, we've just lost our gas bear. that was richard painter, professor, professor of law at the university of minnesota. we'll see if we can bring him back into the show later on. for now though, let's turn to our next story. russia has denied accusations that its troops committed. war crimes in boucher reclaims the bodies found on boutros. the streets only appeared after its forces withdrew from the town. but visual evidence contradicts that narrative. the new york times has published satellite images which show a street in boucher. this 1st image you're looking at is from february 28th. that's before russian troops to control the town. as i can imagine, you're seeing now this from mid march when the russian military occupied boucher. you're looking at those outlines. those are outlines of the bodies of civilians which have been there for weeks. i'm joined now by malik. he brown from the new york times of visual investigations team. thank you so much for taking the time to speak to us

only the us dollar, the euro, and the swiss franc seemed to be crisis resistant. in contrast to the rib nia they are in demand world wide. gold can also provide a secure alternative. well, as we've already been seeing, the impacts of the war can be felt. well beyond ukraine itself, even in the fields of european farm as well, fertilizer, often imported from ukraine has become much harder to get hold of the knock on the fact is that with lower yields, the food these farmers produce is becoming more expensive. as anyone who's been to a gym and supermarket recently, can tell you, feed security is something we've long taken for granted. was that a mistake? sunflower oil sold out the warren ukraine is exacerbating supply problems and germans are panic. buying raw materials are unavailable, supply chains don't work like they used to. hundreds of supermarket items have become more expensive. oh, it's yeah, mcleana. i only get a small pension. i have to be really careful. now. coupla, which i used to throw everything into the car to walk. now i really look at it, squeezin

and which of the two currencies do you prefer the dollar or euro ruble? i knew it.zero leaders in europe, political blocks that know the value of every word and understand the role of russia in the world. even the most difficult years for us. years of economic recession and state internal unsettledness serious european politicians never let you talk to russia as we say through the lip humiliating russia truth true, he just poured himself a beer, i leave and say, listening to gerhard, we need to get out of here urgently. we're on fire. he says, well, now i'll finish my beer and the shredder will go, chirac berlusconi understood. what tests russia went through in the nineties and defended it from the one-falls that sounded even then, we know his position towards russia, we know, and criticism. which he a in connection with this, he received e-e in the european union, putin in europe was accused of harsh actions against the oligarchs in the infringement of democracy in violation of rights and freedoms berlusconi called himself putin's lawyer ready to pay. it's worth it

analysts suggested represents 20 million euros in daily revenue, compared eight and 59 million eurosor oil and gas, but it is symbolic, and will bring the eu closer in line with the u.s. which ban purchases of russian energy about a month ago, and if approved by the 27 number states , it would indicate a real shift in brussels. >> the position is clear. we stand ready to reinforce sanctions. oil and coal are a possibility. we need to discuss unity between this 27 member states. >> we are discussing what can be done in the area of energy like coal and oil. there are discussions on the trade side, but it is important in this situation that we are coming as a strong and credible sanctions package in the atrocities what you're saying, what the russian army is committing in ukraine. reporter: meanwhile, western sanctions are starting to bite. state revenue from energy sales was three point billion dollars left -- listen forecast, drop of 40%, data reflecting efforts by the u.s., u.k., and the eu to find alternative energy sources since the start of the war the end of february. the finance

their german companies alone have investments with some 25000000000 euros in russia. so leaving is an expensive move. the biggest culprit boycott in history is underway and there's no guarantee it won't spec fire . now the thing is with sanctions that can be a 2 way street. russia's main leverage to strike back against the west comes from being a major supplier, avoid le gas as increasing fear. the moscow may choose to turn off the taps, leaving many european sectors without major sources of power. that's why governments are desperately seeking fossil fuel alternatives. malta, rover coleman has been looking into one of them. ah, we really have to talk about the big buzzword in the world of energy, hydrogen, hydrogen, hydrogen, reaching the wonders of hodgen. it's the magic fuel that can power our cars, trucks, trains, ships and planes. and the best thing, any byproduct of consuming nephew, is walter again, and yet it comes with it. this all sounds great. it may be just a little too great. let's take a closer look and see what's behind the hype around hydrogen. to day,