isn't alone and reacting the nordstrom to baltic see pipeline has been controversial from the start. and now it's officially been called off, at least for the time being germinal or german chancellor off shot has stopped the certification process of the completed pipeline on tuesday. after rush up formally recognized to break away regions in eastern ukraine, the 1230 kilometer nord stream to pipeline, which cost $10000000000.00 euros to build has been ready since september last year . but has yet to be put into operation germany withheld approval due to the russia ukraine, tensions and its shelving the project. for now, after moscow recognized the self proclaimed peoples republic of luke guns can don't ask harvard, i have asked the federal ministry of economy today, did withdraw the existing report and on the analysis of supply security at the federal network agency. this may sound technical to get, but it's a necessary legal step. so the certification of the pipeline doesn't take place. and without the certification, nordstrom to can't go into operation, rushes state owned gans prom

to the state department announced everything last week if indeed an attack does happen nordstrom is off the table or at least in their words would move forward. when the administration says that you believe it? >> that's a good question.i would hope that's the case but we've heard something similar from germany and i would hope that is the case but i think in this particular instance there's one thing putin recognizes. i know this because flying in syria the russian air force and russian military were participating with bashar assad in syria and their civil war. we were not at war with syria, not war with the russians but the only thing that recognizesstrength . the only approach they respond to his strength so any weakness they see and during our trip was assumed as one of the speakers told us that by now the reason that russia is going after ukraine at this point is because they perceive an environment of weakness. that's what putin will seize upon. i hope that's the case but it's a little too late in my mind for me to tell you something d before we got to the situation. >> just g

two weeks ago finally understanding the strategic importance of the nordstrom pipeline, biden hostederman chancellor in the white house and bragged about persuading germans to shut nordstrom down if putin made a move. >> if russia invades, that means tanks and troops crossing the border of ukraine again. then there will be no longer aid or extreme two. we will breathe into it the idea that nordstrom to would go forward with and invasion by the russians is not going to happen. steve: he is really struggling there. but under the exact same press conference standing next to biden refusing even to say the words nordstrom. he was asked directly and repeatedly great job there rallying the allies and then does just recall that a certain president raised the nordstrom issue years ago. >> we are supposed to protect you against russia but i think that's very inappropriate and as former chancellor of as former chancellor of germany is the head of the pipeline. and ultimately germany will have 70 percent of the country controlled by russia and natural gas. so is that appropriate? and then compla

they are willing to immediately take the steps that will move nordstrom to from the equation, that is a result of the work we have done together with the german government over the course of these last several months, over the course of the last year. >> your argument, correct me if i'm wrong, sounds like if you had post the sanctions earlier the germans would not have done what they did yesterday. or it would have been much bigger lift to get them to do that. >> what we have said and what our strategy has been predicated on the knowledge that transatlantic unity is the most powerful instrument we have. >> but the pipeline has already been built. whether it gets turned on or not is another -- >> right. >> presumably you have more leverage, and i don't understand why you don't think he would have had more leverage if the sanctions had been imposed before the pipeline was finished. >> you raise a good point. the pipeline when this of mensuration came into office was more than 90% complete. we have imposed this on a number of targets associated with this pipeline, persons and entities, w

it comes after berlin said it is halting certification of the nordstrom to pipeline that was supposed to deliver russian gas directly to germany via the baltic sea. earlier today, the russian foreign ministry said to expect a strong response to the initial sanctions that the u. s. announced. well, for a look at the market response, we go now to our financial correspondent, james sweeney in new york. james, how have markets reacted to biden's announcement today? will as ukraine rush attentions escalade the markets, they took another hits at a 4th consecutive day of losses for the us and be fed. they of losses for the del and also closing at its lowest point for 2022, as investors struggle to juggle the tensions between russia and ukraine because there's just so much going on. especially the big news that president biden would impose sanctions on those behind the construction of the nordstrom to natural gas pipeline that linked russia and germany. because one has to remember that just 9 months ago, president biden, you waves sanctions on the project, despite some criticism. and now some

lithuania to the eastern flank of nato, and coordinate was allies on strong economic sanctions. nordstrom's to was still left a little vague, but that could be 2 choices. advantage as well. terrible. if you look at the details of what was said, they were asked by a few reporters about what is on the table. if russia does invade ukraine again, why do you think they were so vague about the sanctions that would be implemented? i mean, it could have been that all of sholtes was looking to sort of please a domestic audience that he still didn't want to necessarily put nordstrom out there right away and looks at it as the point of leverage, especially since he's also due to be in moscow next week, but at the end of the day, i think the message was very clear from president bite. and he said that nordstrom, too, would not go forward if there was a further incursion into ukraine territory. and because of shoals as response, i don't, i can't imagine that the pipeline would go forward. instead, it would be dead on arrival. if russia takes another aggressive move at the border, you mentioned some dome

if russia invasive crane that is no nordstrom too, and on the one hand love shall said yes, we stand side by side with the united states. but he did not say this one sentence, every one was waiting for and you know, it is, do you have the impression that biden and sholtes did not agree on what they would say before they walked into that press conference? has a very good question, brent. i'm really, really kind of wondering how a chancellor will have shots prepared for that because it was the obvious that he will be asked that question because this is the big question. this is the big elephant in the room. i don't know. maybe there are some questions of real, a reliability in the background we don't know of, but it is hard to imagine that he wasn't prepared to, to answer this question. both of them seem to be um, okay, with each other. i mean, biden is not really a warm and not really a charming person. i was there when uncle america had her last press conference with joe biden. that was also not a lot of heart in the, in the press room. so that is not you. they did their job, but and

and even though nordstrom too is not yet operational, if russia invades ukraine, the u. s. insist nordstrom to must stay dormant, but germany has been noncommittal until monday. if russia invades that means tanks and troops crossing the on the border of you crazy. again, there are no. there will be we. there will be no longer a nor stream to we will bring it in. will you commit today to turning off and pulling the plug on north string to as i already said, we are acting together. we are absolutely united and we will not taking different steps that answer may not be enough for republicans and democrats in the u. s. congress who railed against shorts for failing to increase troops to nato, or send lethal weapons to ukraine. biden pushed back on the criticism of his german counterpart. there's no need to win back trust. he has a complete trust of the united states. germany is our one of the most important allies in the world. there is no doubt about germany's partnership with the united states. none. the german counselor is expected to travel to ukraine and russia next week

my can't think of you as why the nordstrom is so important to germany and also to the u. s. well, that was a big elephant in the room during the meeting of those leaders, the president biden. in fact, italy stated that a should russia invade ukraine, the u. s. would hold to probe the construction of that pipeline. now that pipeline goes from russia through the baltic ocean, bypassing ukraine into germany. now it's absolutely critical for germany's energy supplies, and certainly germany would not be drawn on whether or not the nordstrom to pipeline would be part of his sanctions package. in fact, the german chancellor, a duke vic, clearly declining to state that emphatically that that would be the case. now this is a major issue for the u. s. in terms of getting some kind of common stance on what sanctions package should be implemented. should russia invade ukraine? they want complete unity among all the nato partners. but germany is on a slightly different level. here. are russia provide some 80 percent of its trade? obviously, that gas pipeline of critical importance to ger

let's talk about the controversial nordstrom to pipeline of the pipeline that will break, bring gas from russia directly to germany. president biden was very clear. he said, if russia invades there will be no nods. theme to death. chancellor shots is being more vague when he's asked that question, can it can bite and promise that he will stop her nor stream to without germany being on board? well, that will be difficult, and biden is on a lot of pressure within his own country because republicans and democrats really want, in the case of an, a russian invasion, one germany to stop or nordstrom to. and it was quite interesting to see that everyone, the american journalists and the german journalists who are larger ass question in this crest press conference, stressed this very, a topic. and i, i mean, as you just said, all of sholtes didn't give any clear answer to this question if it would be willing to stop this pipeline. so what biden could do, and he could put sanctions on germany if they would a continue to support the pipeline, but that will deeply hurt the german american, the tran

we also discussed in detail nordstrom to and the security challenges it poses. we have some differences in our assessment here. i reiterated our position is that weeks view nordstrom, to exclusively through the prison, all energy and security threats to us into the region. we are clear in that this is the geopolitical weapon. therefore, ukraine needs energy guarantees and security guarantees. i suggested that we open a strategic dialogue and language is fear in which we will develop energy guarantees of for both of our states in the villages. fear it is important that germany guaranteed some continuing transit of gas through ukraine. chancellor confirmed or germany is the intention to specifics to our, the intention of working on renewable sources and of, of energy. ukraine is the ready to offer great prospects, florida, the development of green energy. it is important to us that our partners a firm will if you and will continue to be firm. as to the open door policy of natal are we are counting on their support for a full membership of nate. so this step would

mr. president, he, i have wanted to ask you about this and nordstrom project that you've long opposed . you didn't mention it just now by name, nor did chance search holes. did you receive assurances from cancer shoals to day that germany will in fact pull the plug on this project? and if russia invades ukraine, if firm, if russian vase that meas tanks or troops crossing the on the border of ukraine again, then there will be a we, there will be no longer a nor stream to we. we will figure that i want to be absolutely care. we have intensively prepared everything to be ready with the necessary sanctions. if there is a, a military aggression against ukraine. and this is necessary, it is necessary that we do this in advance so that russia can clearly understand that these are far reaching severe measures. while our washington bureau chief in his poll g as standing in front of the white house she was at that press conference . good afternoon to you. edith seated the 1st question that was thrown at both blind and sholtes was about the future of nord stream to if russia invades ukraine . th

and while president biden made crystal clear, that there will be no nordstrom to if russia invasive crane chancellor sholtes did not even mention the name of the pipeline and kept on talking about unity. so m, there is a big show trying to show unity, but we don't know further details on this, and apparently there are certain points where they are not really united. now germany's reliability as an ally has been questioned, not least because of berlin's refusal to supply ukraine. with weapons, as chancellor sholtes done anything during his visit to assure america's top breast that germany can be counted on as a defense parker. this aspect on a weapon supply to ukraine is also a problematic one or between germany and the united states. charles has the re to rated that germany is one of the biggest honors to ukraine with 2000000000 euros every year. but he has not mentioned any changes regarding the weapon supplied to russia and still unity and our most important allies. these were the keywords through yesterday's press conference, but no further details on this problematic issues. sorry. ca

steps will be done, but all of us together. meanwhile, biden was very clear about the notion reg, nordstrom t would go north stream, to go forward with an invasion by the russians, which is not going to happen. the pressure is now on germany to sharpen it stands. we can get some perspective on this story now with so there david will she is a senior trans atlantic fellow and deputy director of the german marshall funds berlin office. i so that's good to see you. i will ask you about this meeting we saw between joe biden and olaf shoulds. if there was an overarching message, it was that we stand united. we stand together. how convincing do you think that message was good to see you to so me. i think that joe biden definitely had the back of chancellor all off shelves because he's had a very hard couple of weeks. he's had a hard time turning around the narrative that germany is not a reliable ally, or it's sort of the weakest link in the trans atlantic relationship. so this trip to washington was really done to regain credibility and also to assure joe biden and the white house that he and his

to the all important question, nordstrom to is that i see it that by the end and sholtes have agreed on a formula for dealing with towards dream 2 in which it is biden who emphatically, without any question, says this project will be terminated, it will be ended, not just suspended, but ended. if russia invades and shots, yes, dodges the answer because that's the agreed formula. sholtes doesn't say nothing. he says we're in full agreement with the united states for shots to come out and state that domestically in germany is highly problematic. he's just taken over in december in this unprecedented 3 party coalition. and there are formal agreements and formal constraints within that aunt as part of the coalition agreement about what germany can do to support ukraine. and obviously there is divisions within germany in the business community. and let's remember the former german chess or care hud shredder is basically in the hands of the russians on this. he's just been appointed to the head of gas prom after representing rosena french president manuel macklin asked you to travel to ukr

and yes, nordstrom to dead in the water, wouldn't be great for russia either, but then again, must go, didn't just sign a 30 year castiel with beijing, and just the fun they decided to settle the bell in euro german geopolitical analysts, randy ross of us believes that despite the u. s. pressure, nordstrom to is too important for berlin to droppers, germany understands that it is too dependent on the not stream to project. we need the gas supplies for our domestic market in under circumstances when the gas prices are storing. many users of gas now are really, really, and you can make pressure through a soaring gas prices. and so i'm pretty confident that the german government will turn to a full certification off the pipeline project. and it will not sacrifice this join to german russian gas supply. project in the ongoing ukraine conflict. while the u. s. u. k and european allies of the high pup hysteria about a possible russian invasion of ukraine use foreign policy chief joseph burrell, has taken a most se, bestowing san dismissed that claim, as robert far fetched. well, i wouldn't

and yes, nordstrom to dead in the water, wouldn't be great for russia either, but then again, must go, didn't just sign a 30 year castiel with beijing, and just the fun they decided to settle the bell in euro, 70 political analysts. rayner ra 1st believes that despite american prussia nord stream too is too important for berlin to drop. germany understands that it is too dependent on the north stream to project. we need the gas supplies for our domestic market in under circumstances when the gas prices are storing. many users of gas now are really, really under economic pressure through a soaring gas prices. and so i'm pretty confident that the german government will turn to a full certification off the pipeline project and will not sacrifice this joined to german russian gas supply project in the ongoing ukraine. conflict of these german language channel has appealed broadcast by imposed by berlin. the control the c surrounding r t d was one of the topics on the table for our exclusive talk with russian foreign ministry spokeswoman maria, a car of a you renew persona think you should

and without that certification, nordstrom too, cannot go into operation at all, and shows and biden are not alone. here, u. k prime minister, boers, johnson, also and sanctions against russian banks and individuals. last night, president putin flagrantly violated them in peace agreements by recognizing the supposed independence of the psycho peoples republics of than yet. and they hadn't any son ukraine. in a single inflammatory speech, he denied that ukraine had any tradition of genuine statehood claim. the deposed a direct threat to the security of russia and hold numerous false accusations and dispersed. and there's obviously a lot to go over here and joining us now to do so our boom butts. co host investigative journalists, ben swan. and professor douglas got 3 of thunderbird school of global management at arizona state university. thank you both for joining us today to talk about this, but i want to start with you because i know you've been covering this heavily. the north stream to project is worth about $11000000000.00. it was finished in september, but it stood idle pending cert

so, but on friday, the german vice chancellor made the point that final approval of the nordstrom to will depend on what happens between russia and ukraine. so how much of the discussion between russia and germany will be focused on energy here? i think very little of it will really come down to energy. i think that germany is going to, for their part is going to talk a lot about it because what they're really going to say is, look, we're in an impossible spot here. the u. s. nato do not one, you know, energy to be flowing from russia to germany at this point. and so they're going to kind of make a stand in regards to that. but at the same time, the talk right now has been ratcheted up to such a high point guys, in terms of the way this is being discussed when you have someone like jake sullivan. the biden administration's national security adviser saying that a russian invasion is days away saying that it's going to time out with the end of the olympics. i mean, statements like that are pushing and ratcheting this to a whole new level. so the fact that there is still a dialogue taki

psaki: the first has been announced and nordstrom to his part of that. can check if there is anything additional coming for the first tranche. >> as you talk about the first-round, can you give us a sense of how many there are in this toolbox? ms. psaki: i understand the question, it's hard for me to give the assessment, it depends on what escalatory actions president putin takes. what that looks like, i cannot outline for you at this point in time. i gave you the sense of what some additional options are, expert controls, sanctioning a financials additions, larger financial -- financials additions, those are all on the table, but in terms of what the breakdown of tranches would look like i can't outline that at this point. >> in terms of the cyber attack, could we expect the u.s. to have retaliatory pressure in response? ms. psaki: willie's have that option and we have not made -- we have always had that option and we will consider what actions could be taken. >> one final question. there have been reports that the u.s. is reaching closing some kind of

there is no reason we ever did nordstrom too. we got nothing for it.ed to do these sanctions now. not just of the united states. we need to get as many resources to the ukrainians as we can with the belief they will be able to deter putin and defend themselves. we have to leave all of our options on the table and look at what is happening. we should never tell people what we will and what we will do. we are the world's superpower. we did mayor for democracy than any other country in the world and we shoulnot tell people what our plans are. the goal is to be the beacon of hope and liberty and make sure we have a lethal military force and let the others worry whether we are going to use it or not. >> president biden has ruled out sending american troops into ukraine. do you agree with him? let me put it another way. wod you be opposed to sending troops in? >> i don't believe president biden should ever have messaged what he will and but he won't do. i think that is a big mistake. putin is not telling us what he is going to do. why would biden tell wh he

s insist nordstrom to must stay dormant, but germany has been noncommittal until monday. if russia invades that means tanks from troops crossing the on the border of ukraine again, then there will be a week, there will be no longer a norse tube to we will bring it in. will you commit to day to turning off and pulling the plug on nordstrom to as i already said, we are acting together. we are absolutely united and we will not taking different steps that answer may not be enough for republicans and democrats in the u. s. congress who railed against shorts for failing to increase troops to nato, or send lethal weapons to ukraine. biden pushed back on the criticism of his german counterpart. there's no need to win back trust. he has a complete trust of the united states. germany is, are one of the most important allies in the world. there is no doubt about germany's partnership with united states. none. the german chancellor is expected to travel to ukraine and russia next week to build on white house discussions. it's diplomacy aimed at averting a russian invasion of ukraine.

what you reckon is chancellor sholtes ready to give up his nordstrom to if necessary? well, he's never mentioned the word in public fought. he has had on several occasions that everything is on the table. if russia violates ukraine's territorial integrity . now we've heard about that symbolic value also of not stream to m, but the general government tell us that it's also the a part of a strategy not to give away too much and to sort of not give, put in a situation where you can calculate the costs specifically. now whether he'll mention not stream to is explicitly to day we'll have so it's that is of course something that everybody will watch very closely. but then also when, when it comes to those consequences of a potential russian invasion into ukraine, you also have to look at this as this as a very big thing in and potentially risking huge economic consequences. say it's about much more than about not stream to. and those sanctions would also hurt european and the u. s. economy. so many people are saying it, this is very symbolic bots. putin stands a lot more to

in june 2015, russia announced the nordstrom to gas pipeline. it's route under the baltic. c would bypass ukraine, meaning key f would lose billions in transit fees. another turning point in 2019 with blood em year zalinski as ukraine's president. he vowed to restore the don bath region and renewed calls for nato membership. he bought the lead, the many leaders hints slightly that ukraine shouldn't take the risk of talking constantly about membership of the alliance. because this rescued connect you to russia's reaction most. but that was a red line for moscow, which it was on you 20. no one thought that if you crane create such threats for russia, we create similar threats for herself. what are the at the sure what, but also calculate? it was one of pollutants justification for the russian troop filled up around ukraine's borders. but unlike 8 years ago, ukraine is a battle hardened nation that's vowed to resist it, an act of solidarity with the people of ukraine. the brandenburg gate here in berlin has been lit up in the colors of the ukrainian flag by the way, the city's

and with regard to nordstrom to, i think the expectations are more justified. don't forget, though, the germany is one of america's closest allies, and that is also something we will hear today. ok, oliver cell theory in washington with the latest on this meeting between biden and shalt. oliver, thank you. well, this week of urgent diplomacy is kicking off today on this side of the atlantic as european leaders also trying to defuse the crisis over ukraine. french president emanuel micron has been meeting with russian president vladimir putin during the meeting, which just concluded macaroni said that he hopes the talks in moscow will start to build more trust between the european union and russia. and he also hopes that this will avoid a war hooton's praised macros efforts to resolve the crisis. the warrant is watching this meeting and other diplomatic efforts. while more than a 100000 russian troops remain positioned near the border with ukraine. wireless good at our chief international editor, richard walker. he's been following events for is to day getting m

not stream to you said all options are on the table north from fire, but you're not mentioning nordstrom to buy a name. and don't you think if you were to spell this out, you could win back trust in with as a strong ally here for the us. there is no need to win back trust. he has a complete trust of the united states. germany is, are one of our most important allies in the world. there is no doubt about germany's partnership with united states, none with regard to helping ukraine, one of the largest contributors financially to ukraine has in germany. germany has been in the forefront of making sure of providing economic assistance. you also asked the question, yes, so many i can't remember them all. ah, but doug, in terms of the u. s. media st. germany is not rely, germany's completely reliable, completely totally thoroughly reliable. i have no doubt about germany. b sent ink from wilma did find miss blair console united submission and the trans atlantic partnership between germany and the u. s. is a, one of the permanent pillars of german policy and it will be relevant in the future as

oh, no, wait, never, president biden has made clear that nordstrom, too, is a bad deal to bad deal because it divides europe. it exposes ukraine and central europe to russian russian manipulation and because it goes against europe's own stated energy and security goals. so thought of occasion of the project is on hold . and moscow for its part thinks that brussels has failed to do the mass that the issue with this is also senseless for those who don't let the system work, because additional gas supply to the european markets would unquestionably lower the stock and spot price. okay, so biden's worried about poor europeans being at the kremlin marcy mix much more sense to pay more for american liquefied natural gas. and i have the privilege of being on washington's marci. but that's not the only concern. another big issue crane won't get a cut. now at the moment, keith gets more than a $1000000000.00 a year for allowing russia to pipe gas through it. nordstrom to would bypass ukraine and for some in brussels. that's unacceptable. these is until ones and the sanctions are unprecedented and h

the pressure campaign continues surrounding the nordstrom to pipeline . and now the finance minister of france is warning german leaders not to be manipulated by the u. s. during an interview on tuesday, he said, quote, the americans will not have to bear the same consequences of a conflict and ukraine as the europeans, especially in terms of energy prices. let us not be dragged by the americans to a position that is not that of the europeans. his comments come in response to president biden, who insisted that if there is a military conflict than the pipeline will be no more if russia invade. so that means tanks or troops crossing the on the border of ukraine's again, then there will be we, there will be no longer a norse tube to we, we will bring it in or will you, how will you do that exactly. since the product and control of the product is within germany's control, we will, i promise you will be able to do. notably, german chancellor, all off shoals refused to give a direct answer on whether that would be the case. he also refused to mention the pipeli

in euro or german geopolitical alice rayner office believes that despite american pressure, nordstrom too is too important for berlin to drop. germany understands that it is too dependent on the north stream to project. we need the gas supplies for our domestic market in under circumstances when the gas prices are storing. many users of gas now are really, really, and you cannot make pressure through a soaring gas prices. and so i'm pretty confident that the german government will turn to a full certificate asian off the pipeline project and will not sacrifice this join to german russian gas supply project in the ongoing ukraine. conflict of his german language channel has appealed abroad. carlsbad imposed by berlin, traverse the surrounding r t d was one of the topics on the table for our exclusive tool with russian foreign ministry spokeswoman maria's however he linear persona. thank you. so the good such conditions are said that when our arguments are not accepted, janessa doubt a direct blow. the german government said had nothing to do with the conflict, but they did not hide the

and here's what we have coming up. germany says it is putting the nordstrom to pipeline on all that the us and its allies and out of breath, round of sanctions against russia. we just got the latest floods in response to the latest pension oil prices are getting even close to hitting $100.00 per barrel. we'll take a look at the factors driving the latest rally and do is benefit from it. then as much as in the u. s, and taking a dive into the start of the year, investors are looking for other options. we'll take a look at the next frontier for investing in collectible. we have a lot to get to, so let's go we leave the program with the latest on the increasing tension between russia and nato. the u. s. and its european allies are now instituting a host of sanctions against russia. after president putin confirmed on monday that he would recognize the independence of the 2 provinces in the dark mass region, which broke away from ukraine back and 2014. on tuesday afternoon, u. s. president joe biden announced a new set of sanctions which take aim at russian banks. and what he characterized a

this is how he referred to this decision to pause nordstrom to have it as a bonus for treatment. as durham, hard to get bitten, i've asked the federal ministry of economics to withdraw the report on security of supply with our federal networks agency. it's the 1st step to make sure the pipeline cannot be certified at this point without certification, the nordstrom to can't operate. so we will reassess the situation that has evolved over the past few days. it's important to launch new sanctions now to prevent an escalation and disaster. there is a cost to sanctions. the german government ministers have referred to it before saying that prepared to pay a heavy price in order to put sanctions targeted sanctions on the putin government . but that cost could be very high indeed, not just for germany, because to so much russian natural gas comes to europe through germany. and otherwise, there are some governments lucidly, the italian government to a particularly wary of some as it was sanctioned, might really pare down the amount of russian natural gas that comes to europe. so there's