congress has approved a new round of sanctions against the nord stream to gas pipeline linking russia to europe the measures are included in the latest defense a budget which was passed after lawmakers overrode a veto from president trump and they will target companies involved in the construction of nord stream to washington claims the project will make europe overly dependent on russian energy supplies and a boost to the kremlin's influence but the e.u. has refused to back down condemning u.s. efforts to do real construction. the extraterritorial sanctions run counter to international law european policy is defined in europe not in 3rd countries. nord stream 2 which is now almost complete is the 2nd stage of a pipeline network running under the baltic sea once ready it will pump enough russian natural gas to supply $26000000.00 european households work on the final section is scheduled to start off the coast of denmark in mid january we heard from a member of german party of the left she thinks the pressure from washington is commercially driven and is likely to fail one goal is to

because now there was also mention of the nord stream to gas pipeline in that resolution coming from the european parliament tell us about that. shirt jacqueline nord stream 2 very important thing in terms of geopolitics in terms of russia's relations with europe and with america and another complicated story that's new pipeline that has not been completed just yet but it's nearing its completion that was intended for direct natural gas deliveries from russia to germany but this project has its enemies and also there are some countries in the in the european union that are you. looking forward to its completion that is germany in particular i can tell you that there are politicians in the e.u. including angola merkel that are saying that politics and the like scene of on these caves shouldn't be mixed with europe's economic interests in fact this is one of the latest comments by the german chancellor. that i consider these extra territorial sanctions to be inappropriate. but besides this we understand there's a different very important player in this case that is the u.s. and they ha

keep rolling out against companies and now just ships taking part in constructing nord stream too is their last ditch really and their last chance to stop nord stream 2 from happening because it is about 94 percent complete just to give you an idea as to how little the resolve to be done in the waters of denmark only 120 kilometers off the pipeline are left to be world laid and constructed and on top of that only 28 kilometers of the pipeline are left to be put in the german waters and from that moment well that the pipeline is complete and nothing can stop it from going operational so we'll see in the coming months the u.s. will try and roll out more sanctions sanctions and more penalties against well companies who are trying to construct a north stream to as this fortuna ship is said to well finish its work in the waters of denmark by the end of may yeah absolutely massive project isn't it but for now work on it restarting on the last little bit keep us posted let's get on with it now this news in from italy are going to tell you about italy slapping a ban on tick tock users who ha

government to deregulating the construction of nord stream to a regardless of the administrations that are in charge things aren't likely to change with the arrival of joe biden so this brings us to a major controversy on the one hand we do have the enemies of that project in the european union a bunch of them plus outside the e.u. america like we mentioned but the project is largely wild biber led because of apparent benefits for the german economy and that's why perhaps just recently we heard from anglo merkel that said that she doesn't want to mix up the volley case with the case of north stream to dispense them finished his exit i consider these extra territorial sanctions to be inappropriate. now just to remind you alexina vali was arrested at a moscow airport this weekend after his arrival from berlin following several months of treatment there like satan a volley is in trouble with russian officials for violations of probation period i can remind you that several years ago the major opposition figure was convicted for embezzlement for which he received a suspended sentence but m

>> i know the strong convictions this is a bad idea nord stream 2 and that much i can tell you.i know he would have us use every persuasive tool that we have two convince our friends and partners including germany not to move forward with it but what i do need to do is make sure i have consulted with him on the specifics of that. >> i look forward to working with you on that i would note both sets of sanctions we have passed are mandatory and not discretionary so i look forward to continuing to work with you on that. let's shift to a secondary where we may or may not have agreement that you mentioned earlier this hearing the importance of strength inning regional allies to stand up to china and i've long believed that china poses the single greatest geopolitical threat facing united states for the next century. one of those important regional allies as taiwan. when you were at the state department rules were put in place regarding taiwan to put restrictions in taiwan that no other country faced and in particular that prohibited the display of taiwanese sovereignty on u.s. federa

and the biden administration is not a fan of nord stream 2. continue the trump administration's policy of constantly imposing unilateral sanctions on companies involved with nord stream 2. it opens the door for other countries to impose unilateral sanctions on american companies. it is also not good diplomacy towards germany. if this has not been resolved by the time merkel leaves the chancellorship, her successor will have to take over and it is a very tricky situation for germany. anna: elizabeth raw, a resident fellow at the american enterprise institute. coming up, are assets too complacent about vaccines? and we are hearing from christine lagarde. she is giving a keynote at a virtual event called green central banking. you can watch the whole thing on the terminal at live go. the ecb is to launch a climate change sector. this is bloomberg. ♪ matt: welcome back to bloomberg markets. this is the european open. we are almost an hour into the session and looking at some mixed trading. the ftse and the cac are down. the dax and the broader sto

a local government in germany has come up with a way to protect controversial gas pipeline nord stream 2 from sanctions state of mecklenburg western pomerania is putting all the nord stream associated companies into a foundation trust measure it will legally shilled the companies involved from u.s. sanctions. over latin america where cuban consumers have had a rough start to the new year facing price hikes and long queues in shops all due to a new currency reform and the government has done away with the country's confusing dual currency system but that itself is creating confusion and some anxiety. there are long queues at the banks in havana as cubans scramble to stock up on national pesos since currency reform in january 1 it's the only way to pay in the shops market oriented reforms have led to tensions. i think stores should continue to take the convertible pesos so as to make it easier for people to change their money and so people don't have to stand in lines at banks in the end that's a lot of people and with the situation with the virus i think it's unnecessary. for . for more

is planning to sanction one of the russian ships involved in laying the nord stream to gas pipeline from russia to germany it will be the 1st us government sanctions on the pipeline which washington says will make germany too reliant on russia. and before we go the e.u. flight safety regulator says it's approving boeing's 737 max jet to fly again next week and this comes nearly 2 years after the airliner was grounded on safety fears following 2 fatal crashes investigators found that those crashes were caused by a faulty computer system brazil canada and the u.s. have all recertify the plane. and that's it from me and the business team here in berlin as always you can find out more about these and other business stories online at the dot com slash business to check us out on facebook and twitter as well as always thanks for joining us to focus on in next time. maybe i'm david and this is climate change. happiness in 3 books. the books are you. smarter for free. or you 2. 160. because i want to be a gemini with a name the last few years have been quite. a marriage of the time but when it c

we have done what is right by the ukrainian people, whether the effort to stop nord stream 2, the decisionide lethal defensive materials for the ukrainians, something the previous administration refused to do. we have done the right things in the to build up the capacity for the government to defend itself from the threats from russia, military, information threats, energy threats. we have done all of those things, yet there is still a conflict in southeast ukraine where we have not made progress, nor have the europeans coming in diplomatic efforts. i regret that. david: ok, let's talk about nato. president trump was tough on nato, saying members should increase their defense spending. they argued they were going to do it anyway. he said they did it in part because he was talking about it. is nato as strong as ever, or not as strong? sec. pompeo: nato is in a better place today. you don't have to take my word for it. you can ask the secretary-general of nato. what is better about it? first, no doubt european countries have made decisions, he puts the number at 440 billion dollars, 36 month

follow what the united states is saying on an issue like china and you see that also with the nord stream pipeline the north stream to pipeline between russia and germany which is bill being built at the moment also has the potential to create significant disagreements between the 2 sides so i think this also comes back to this regional point that the europeans are looking at the biden ministration of thinking we like a lot about this but ultimately we have to look out for own interests too and this could put these transatlantic alliance under serious strain because of course europe is still totally dependent on american defense and from american perspective this is something that came out under trump was the attitude you can't have it both ways that europe cannot continue to live totally under american protection and try to sort of hedge its bets on relations with china relations with russia striking developments thank you so much richard walker the douglas chief international editor crush it. let's take a look now at some of the other stories making news around the world. police in guat

follow what the united states is saying on an issue like china and you see that also with the nord stream pipeline the north stream to pipeline between russia and germany which is bill being built at the moment also has the potential to create significant disagreements between the 2 sides so i think this also comes back to this regional point that the europeans are looking at the biden ministration of thinking we like a lot about this but ultimately we have to look out for our own interests too and this could put the transatlantic alliance under serious strain because of course europe is still totally dependent on american defense and from american perspective this is something that came out under trump was the attitude you can't have it both ways that europe cannot continue to live totally under american protection and try to sort of hedge its bets on relations with china relations with russia striking developments thank you so much richard walker chief international editor preceded. and really our go. going to turn our attention now to spain where it community of people living on the ed

hoping that this will be one of the 1st places joe biden does travel to melinda's what about the nord stream to natural gas pipeline between germany and russia. he is an opponent of that project and vetted something that he and trump had in common is there any sign that going to change. there are a couple of things that joe biden and trump have in common that will create some challenges in german u.s. and european u.s. relations we just were hearing about one namely china policy there will certainly be pressure on europe and germany to be tougher on china at the same time there are opportunities here to work together on china the statement goes forward north stream what we do know is that europe would like to see the u.s. return to the 4 old when it comes to the w t o to the world trade organization and certainly if joe biden is serious about multilateralism he needs to be looking into that and looking into how he can work with his european allies to reform the w t o so that has broad implications for trade policy on many levels including north stream as you know the u.s. imposed sanctions o

to try to do things that are right by the ukrainian people, whether that was our effort to stop nord streamrom being built, the president's decision to provide lethal defensive materials for the ukrainians, something the previous administration refused repeatedly to do. we have done the right things for them and tried to build up the capacity for the ukrainian government to defend itself from the threats that come from russia, but military threats, the information threats, the threats inside of ukraine and the energy threats, we have done all those things. yet, in southeast ukraine, there is still a conflict that we have not made much progress in, nor have the europeans made much progress in their diplomatic efforts as well. i wish we would have made more progress during our time. david: let's talk about nato for a moment. president trump was tough on nato, they would argue that they were at increased defense spending anyway, he would say they did it in part because of his talking about it. where do you think nato stands? is it as strong as ever or not as strong as it once was? sec. pompeo:

welcome back this is our chance for national construction of the vast nord stream to gas pipeline from russia to germany has restarted after u.s. sanctions had forced its suspension the project should now be completed by the summer. a special pipe laying a vessel called for tuna has been spotted in the territorial waters of denmark now why this is important it is because this particular ship along with the company that owns it what got on the list on the latest on the newest list of u.s. sanctions that are aimed at de reeling this whole project now if russia is to succeed and to complete this pipeline it would allow it to double the amount of natural gas supplies to germany berlin has been saying that these sanctions are effectively foreign interference into something that is strictly a subject of relations of russia and germany have a listen. they consider these extra territorial sanctions to be inappropriate. as we've reported several times these the sanctions direct to do german and european companies and we fundamentally opposed them. by putting this vessel and some other vessels i

about the german foreign minister and his reaction to this could we see germany reconsidering the nord stream to pipeline which would bring natural gas from russia to europe or is there still support for this project well i asked about that it's few days ago german chancellor angela merkel said that she didn't change her mind about the projects she has always bag but there is a growing criticism in germany and abroad do you ask has threatened sanctions against companies participating in this project european lawmakers only a few days ago overwhelmingly voted to stop construction of the pipeline so it remains to be seen if the project is going to be completed but as for now the german government still supports it all right so both of your chief elders and if another with the latest tonight alexander thank you. china has hit back at the european union resolution condemning its crackdown on hong kong democracy activists calling it interference in its governance of the city but for one activist here in berlin the e.u.'s actions have been much too mild in the face of the harsh treatment of protest

pressure growing on germany to kill its nord stream to gas pipeline project with russia bloomberg is reporting that a major ensure has quit the project do you think it's time for germany to do the same thing. i don't not consider it very helpful that the same force 2 didn't want. we don't want to go up north supposing you had to immediately hijack love on you any other issue for the purposes of the north stream project i think to have been very differentiated fuels when our own party on this project terms of its jewish she implication and also in terms of its economic justification i think we does not help for the particular what we see from the united states in that regard to have a sensible and deliberative discourse over that in germany i think the other issues we need to talk about i think we are in the process of an active markets lower to. prosecute human rights offenders on a global scale also in the european union. i mentioned the investigation in the council of europe i think there's a lot that can still be done in was are going to as a trees as a travel bans to those who ar

about the german foreign minister and his reaction to this could we see germany reconsidering the nord stream to pipeline which would bring natural gas from russia to europe or is there still support for this project well i asked about that a few days ago german chancellor angela merkel said that she didn't change her mind about the projects she has always bag but there is a growing criticism in germany and abroad do you as has threatened sanctions against companies participating in this project european lawmakers only a few days ago overwhelmingly voted to stop construction of the pipeline so it remains to be seen if the project is going to be completed but as for now the german government still supports it all right so your g.p.l. isn't a phenomena with the leaders tonight alexander thank you. are football news now in business league a club here to berlin have announced that they are hiring powell as their new head coach this will be a 2nd stint at the helm for head to after serving as head coach for the berlin club for 4 years until 2019 are now dangerously near the relegation zone and wil

to structure of the nord stream to gas pipeline resumes that despite u.s. sanctions with berlin taking a stand against foreign interference that story and much more after a short break this is our 2 international. will those who would be most impacted by having on realized gains tax the so-called wealth tax would they not be incentivized to do agre style collapse their property from the credit default swaps but on america we always said that once they were successful in destroying greece they would move on to other countries in europe and it would eventually get to the u.s. is that day now approach. the world is driven by. shaped by. the dairy thinks. we dare to ask. for. welcome back this is our chance for national now construction of the vast ignored stream to gas pipeline from russia to germany has restarted after u.s. sanctions had forced its suspension the project should now be completed by the summer argues it was done of brings us up to speed. a special pipe laying a vessel called for tuna has been spotted in the territorial waters of denmark now why

pressure growing on germany to kill its nord stream to gas pipeline project with russia bloomberg is reporting that a major ensure has quit the project do you think it's time for germany to do the same thing. i don't not consider it very helpful that the same force 2 didn't want ready. we don't want another nasir project had to immediately hijack the love on you any other issue for the purposes of the north stream project i think to have been very differentiated fuels when our own party on this project terms of its jewish she implication and also in terms of its economic justification i think we does not help particular what we see from the united states in that regard to have a sensible and deliberative discourse over that in germany i think the other issues we need to talk about i think we are in the process of an active magnitsky law to. prosecute human rights offenders on a global scale and also in the european union. i mentioned the investigation in the council of europe i think there's a lot that can still be done and was are going to as the trees as the travel bans to those wh

in custody for the next few weeks before a court decision and so pressure is building up now the nord stream pipeline project hangs in the balance as well so let's watch out for new developments. well seeing the hawks coming away in just a few moments time that's. at 6 am moscow time to bring you up to speed on the morning news had. joined me every thursday on the alex simon show and i'll be speaking to guest of the world of politics sports business i'm showbusiness i'll see you then. take 2 good. look these one this is my grandfather watch just go particularly good but who do you good when you make one a little bit higher do you wait a little bit. and then come back and look at them then looks they don't indicate the same time because there's more time up here the time down there. seems wrong. wrong just don't call. me. yet to stamp out these days to come after. and engagement equals betrayal. when so many find themselves worlds apart we choose to look for common ground. greetings and sell you to us the intrigue and investigations into what exactly happened on january 6th when the make amer

with any applicable sanctions regulations while the nord stream to backers said the pipeline can proceed german media reported the group has delayed completion once again the 1200 kilometer pipeline running from russia to europe across the baltic sea is now 94 percent complete.

have continued to do the things that are right by the ukrainian people, whether the effort to stop nord streamng built. whether it was the president's decision to provide lethal defensive materials for the ukrainians, something the previous administration refused to do. we have done the right things in trying to build up the capacity for the ukrainian government to defend itself from the threats from russia, the military threats, information threats, threats inside ukraine, the energy threats. we have done all of those things, and yet in southeast ukraine, there still a conflict where we have not made progress, nor have the europeans made much progress in their diplomatic efforts as well. i regret that. i wish we would have made more progress during our time. david: ok, let's talk about nato. president trump was tough on nato, saying members should increase their defense spending. they would argue they were going to do it anyway. he said they did it in part because of his talking about it. where do you think nato stands? is it as strong as ever, or not as strong as it once was? sec. pompeo: na

president to dial down sanctions on companies involved in building the nord stream to gas pipeline from russia so europe regardless of whether you think the pipeline is right or not countries could and should not treat each other like that the current trump administration is reportedly planning to slap a final round of sanctions on iraq therms involved in north stream to construction claim the project will see russia dominates europe's energy market and leaves the e.u. at moscow's mercy some companies have already bowed to american pressure including the danish engineering consultancies roundball even so work in the danish baltic sea zone is still planning to get going again on friday when completed nordstrom's who could double the amount of russian gas delivered directly into europe or there are doubts in germany to one northern state m.p.'s says russian gas is just part of europe supply story and that the critics are contradicting themselves. if you could be seen with the critics who say europe doesn't need north stream to the same ones talking about how the pipeline will make us depe

arms but a good news for russia and broadly europe today to tell you it's construction of the vast nord stream to gas pipeline from russia germany has been restarted after u.s. sanctions had forced its suspension the project should be completed know them by the summer so not long to go catch up on the latest developments he goes down of course for the on this one today i get a go as who is saying the positive vibes coming from the project chiefs no not too far to go to complete this thing well kevin indeed what's important a special pipe laying vessel called for tuna has been spotted in the territorial waters of denmark now why this is important it is because this particular ship along with the company that owns it what got on the list on the latest on the newest list of u.s. sanctions that are aimed at the reeling this whole project now if russia is to succeed. to complete this pipeline it would allow it to double the amount of natural gas supplies to germany so with berlin being the main benefactor of all of this project it has been saying that these sanctions are effectively foreign interfe

pressure growing on germany to kill its nord stream to gas pipeline project with russia bloomberg is reporting that a major ensure has quit the project do you think it's time for germany to do the same thing. i don't not consider it very helpful that the same force 2 didn't want. we don't want to know supposing you had to immediately hijack love on you any other issue for the purposes of the north stream project i think to have been very differentiated fuels when our own party on this project terms of its huge she implication and also in terms of its economic justification i think we it is not helpful i think it's very particular what we see from the united states in that regard to have a sensible and deliberative discourse over that in germany i think the other issues we need to talk about i think we are in the process of an active markets the lower to. prosecute human rights offenders on a global scale also in the european union. i mentioned the investigation in the council of europe i think there's a lot that can still be done in was are going to as a trees as a travel bans to tho

work on the trust issue of this and then with mr trump i know that president biden is against the nord stream to natural gas pipeline project between germany and russia we know that saying sions are being slapped on companies by the united states who are involved in constructing the pipeline. when does this pipeline become a major liability for germany in its relations with the us. it is a problem we have to be honest it with this one and then put it all sentient the last days station doesn't it seems easier for president biden. nevertheless this is not the biggest problem i think the russia issue russia generally is an issue others are as well but i think those are not going to be the big issues of this administration concerning the cooperation both with germany and the european union i think for comparison if you look at china i think that the challenges with china in it between the between the atlantic between europe and the united states is much bigger much more challenging you know if you 2 is a problem but we can deal with it is there a fear in the german parliament that president biden

in custody for the next few weeks before a court decision and so pressure is building up now the nord stream pipeline project hangs in the balance as well so let's watch out for new developments. for a deeper dive into this cellar stories are to dot com as a solid choice to go digging the latest developments the nala says and a few fiery debates can be found there to see you soon. right now there are. people who are overweight or obese it's forcible to self. and sugary and salty and addictive it's not at the individual level it's not individual well power and if we go on believing that would never change this obesity epidemic that industry has been influencing very deeply the medical and scientific establishment. some of what's driving the obesity epidemic it's called for profit. chain reaction process in the reactor 3 a tremendous heat which scientists have learned out of control. really are. keen to harness the air i was so excited about nuclear engineering because i thought it would so.

can you tell us what the nord stream project is all about?uest: i do think that eric has some valid points, but i do want to make sure we get some facts straight, and this is from independent reporting, from russia's own economic, financial, and local sources. it is true that for the first eight years of putin's presidency, since about the year 2008 or so, russia did experience a growth in their financial living standards. most of that, however, was tied to the price of oil and gas, which still make up a huge chunk, more than 50%, of russia's state revenue budget. the ruble itself tracks very closely to the price of oil. when the price of oil crashes, the russian economy tends to decline. if we look at russia as an economic global power, there's very little to support that statement. russia's gdp makes up less than 2% of global gdp. between 20% and 25% for china. certainly, russia is not an economic global power by any means of the word. yes, it is a nuclear superpower, that is a legacy that it has inherited from the soviet union, but in all

in place and are committed to fully comply with any applicable sanctions regulations while the nord stream q. backers said the pipeline can proceed german media reported the group has delayed completion once again the 1200 kilometer pipeline running from russia to europe across the baltic sea is now 94 percent complete. speaking of pipelines the future of the keystone x.l. could soon be in jeopardy president elect joe biden will have the authority to cancel the permit for the $9000000000.00 project us soon as he takes office while construction of the pipeline is already underway from canada to nebraska and has hit several road blocks since it was revived by president trump and then concerns from environmentalist and native tribes a judge put a hold on the permit back in april arguing that the u.s. army corps of engineers did not take into account the impact it would have on endangered species but in an attempt to garner bind and support the pipelines developer has promised to make a series of changes which include a pledge to power the pipeline using only renewal energy to complete its con

the nord stream to pipeline has resumed danish authorities reported a russian vessel conducted preparatory works and tests over the weekend spokesman for the pipeline told new europe the labor for tuna has started works in the construction corridor in the danish easy ahead of the resumption of the north stream to construction all works are performed in line with relevant permits this comes despite brussels call last week to halt the pipelines completion in response to the arrest of alexey of only the 18 mile pipeline that would bring russian gas to germany under the baltic sea which the us claims it would only increase europe's reliance on russian energy uncertainty remains under president joe biden and what actions he'll actually take as a pipeline is 94 percent complete. on tuesday janet yellen was sworn in as the 1st female treasury secretary she was approved by senate on an $84.00 to $15.00 vote and is expected to play a key role in the economic recovery plan particularly biden's $1.00 trillion dollars stimulus package following the ceremony and took to twitter and said economics can b

a local government in germany has come up with a way to protect controversial gas pipelines nord stream 2 from sanctions state of mecklenburg western pomerania is putting all the north stream associated companies into a foundation trust measure it will legally shilled the companies involved from u.s. sanctions. over latin america where cuban consumers have had a rough start to the new year facing price hikes and long queues in shops all due to a new currency reform and the government has done away with the country's confusing dual currency system but that itself is creating confusion and some anxiety. there are long queues at the banks in havana as cubans scramble to stock up on national pesos since currency reform in january 1 it's the only way to pay in the shops market oriented reforms have led to tensions. i think stores should continue to take the convertible pesos so as to make it easier for people to change their money and so people don't have to stand in lines at banks in the end that's a lot of people and with the situation with the virus i think it's unnecessary. for more than

liberal and a modernizer, but he's also opposed some policies of merkel's government, such as the nord streamncine: what does this mean for the party's election campaign? >> it's important to note this new leader does not immediately become the party's candidate. that will be a decision taken sometime in the spring. however, it will be a significant thing for looking at where the party is intended to go in a post-merkel era. merkel has continued to be a sort of unifying person who has been able to boost the cdu during the pandemic's polling. at the start of the pandemic, the cdu did exceptionally well in the polls. a lot of that has been chopped up to merkel's handling of it -- chalked up to merkel's handling of it. but you see the greens, in the winter of 2019, have almost caught up with the cdu. and it may take a little while longer before the broader public noticed that the cdu will no longer have merkel at the helm for us to really see what will be happening in september. francine: thank you so much for what we can expect on saturday, our reporter in berlin. we'll have full team coverage

pressure growing on germany to kill its nord stream to gas pipeline project with russia bloomberg is reporting that a major ensure has quit the project do you think it's time for germany to do the same thing. i don't not consider it very helpful that the same force 2 didn't want. we don't want another nasir project had to immediately hijack the love on you any other issue for the purposes of the north stream project i think to have been very differentiated fuels when our own party on this project terms of its huge she implication and also in terms of its economic justification i think we does not helpful i think is but in particular what we see from the united states in that regard to have a sensible and deliberative discourse over that in germany i think the other issues we need to talk about i think we are in the process of an active markets lower to. prosecute human rights offenders on a global scale also in the european union. i mentioned the investigation in the council of europe i think there's a lot that can still be done in with regard to exit freezes or travel bans to those

share maybe in part to punish one senator are ted cruz and his state of texas for opposing the nord streameline >> i think his royal highness has always been concerned about the demand he was right, in january last year he was concerned when there were reports of the virus emerging from wuhan. he's always been concerned bts demand outlook so i think when you have cascading government lockdown restrictions, the new covid var yants variant, i think he just wants to be extra cautious, he does not want to becaught blind sided by a shift in the demand outlook. that said, i do think also that the timing was very interesting. you also had qatar welcomed back in the fold. so i think that there were a lot of saudi grand gestures going on yesterday. i'm not sure the russians are especially pleased with it yes, they will benefit from the bryce action, but i do think the russians are concerned about losing market share to the u.s they say if we don't increase, somebody else will and i think that they will want to keep shale on the sidelines in 2021. >> and i want to shift gears just a bit iran is this

when you look at nato spending, nord stream 2 with the buying of russian gas, this is the problem.alliance is freying not because america is doing something didn't but little by little, the western alliance has frayed from the western side of europe. the europeans little by little have been moving from us. when donald trump put his foot down and said if you care about the western a line, act western. pick the western side. for the chancellor of germany on the day of international remembrance of the holocaust for her to somehow say that she doesn't know which side she's on between communist china and the united states, that's very, very troubles. i hope jake sullivan and kamala harris and joe biden and susan rice were all paying attention. >> trace: it's not hard to see that china is cheating when it comes to intellectual property, militarizing the south china sea. these are easy things to see. thanks, rick. thanks for coming up. >> thanks, trace. >> trace: bernie sanders is looking for a federal minimum wage hike. we'll look at the potential impact on business owners next. >> if ra