fatih birol in paris, welcome to hardtalk. thank you very much, thank you very much. start, if i may, mr birol, with words of yours. not long ago you said, "what the world is going through today is a major, it might be the first, global energy crisis, in terms of depth and complexity." with words like that, aren't you in danger of turning an energy problem into an energy panic? i don't think so. what i am trying to do is that people understand the dimensions of the crisis we are in and to take corresponding measures. if we are not able to read the game, how deep and how complex our global energy crisis is, then we might not be able to get the right solutions and give the right answers. for example, when we look at europe, we have seen on 2a february, the invasion of russia, and the international energy agency, just one week after, the 1st of march, we came up with a ten—point plan how to reduce russia's reliance — er, europe's reliance on russia. and i see that not much happened in the last four months, but we are, slowly but surely, in europe, putting measures togeth

fatih birol warns of more pain to come in the energy sectors. -- crisis.will speak to kadri simson, the eu commissioner for energy next. this is bloomberg. ♪ tom: welcome back to the open. we are 40 minutes into the european trading day. it is risk off, moves into bonds and out of equities. down .8% across the european benchmark. that futures with the s&p e-mini is looking to losses of .8%, nasdaq futures with losses of .9%, building on losses yesterday in wall street. just one sector in europe is in the green, utilities. technology is the loss leader, down around 2%. let's get back to what is happening and the words of -- the importance of the energy crisis. the global squeeze has triggered crippling shortages and sent fuel prices that may get worse according to the head of the iea. >> the world has never witnessed such a major energy crisis. in terms of it is depth and its complexity. it is interwoven by many factors, including the geopolitics. and i believe we might not have seen the worst of it yet. tom: joining me now is eu energy commissioner kadri s

jonathan: fatih birol there, the iea executive director.morning, down .6% on the nasdaq -- s&p 500, we were down nine basis points yesterday on the session. we see that move lower going into cpi tomorrow, want to reflect on the words of the economy minister to echo what they said. should be getting ready for a total russian gas supply shut down and this is the most likely event, the fear about some of these moves with the euro-dollar within striking distance. tom: i went through the coal complex today and you are saying it not only in the move to parity, 1.012 right now, but it is mirrored in what i'm going to call usable commodities, copper, rotterdam coal, there it is. jonathan: i wonder how much more you're going to see across economies in europe for just for -- for different reasons. what about energy? tom: we will see about energy and maybe that is the next step. brent crude is down 124 to 104. the headlines from spain, harkening back to our conversation with another the other day, spain could impose tax on banks. jonathan: i have not