we want to see whether sberbank is on that - whether sberbank is on that list or not but for the financialstrain. difficult to imagine what we are now looking at in terms of scenarios. we have never seen this before so as you said, sunday, banks were closed, but people were queueing up at any atm that had any foreign exchange in it and today we will certainly see a very significant collapse in the rouble and that will put massive strains in financial systems and on the banks so for sure we will have some bank collapses are. if sure we will have some bank collapses are.— sure we will have some bank collapses are. if we talk about the economics _ collapses are. if we talk about the economics of _ collapses are. if we talk about the economics of this, - collapses are. if we talk about the economics of this, what i the economics of this, what will it mean for the average russian in terms of their everyday situation? because of course inflation is a big problem, if the central bank cannot prop up the rouble in the days ahead, that is a significant issue with the central bank perhaps having to r

.— gazprom, sberbank.massive oil. companies? yes, they could move gazprom, sberbank. massive oil- companies? yes, they could move out if there was — companies? yes, they could move out if there was friction _ companies? yes, they could move out if there was friction in _ companies? yes, they could move out if there was friction in the _ companies? yes, they could move out if there was friction in the trade - if there was friction in the trade of oil and gas. that shares are down. we are seeing a bit of a recovery, because when markets are concerned, a known quantity is better than an unknown potential. what am in terms of oil and gas going upwards, that affects pretty much everyone around the world in terms of energy bills? in terms of the oil price, pretty much everybody. it affects manufacturing, transport. in terms of the gas price, europe gets a0% of gas from russia. that feeds through into the household bills. 0ther russia. that feeds through into the household bills. other parts of the world are less

sberbank has not been sanctioned.ha contributor to the commodity financing of russia. 10 year yields a spike higher and the ruble comes off its record levels. let's get the crypto. christina is here with the fx and rates and oil coverage. joanna, let me get to you. bitcoin did not do well in this situation. your first take. >> hey, manus. it is something that for years, bitcoin proponents have said this is a geopolitical -- geopolitical hedge, it can work of governments are not quite functioning well. that is not happening right now. it is about the lowest in a month, so it is not its lowest and forever, but it is still around those mid-$30,000 levels. some people are talking about the potential of $30,000 and even down to $20,000. over the crypto complex over elsewhere ether is down about 12% and other top tokens have taken it on the chin. across the crypto complex, it is definitely asking -- acting like a risk asset right now. manus: absolutely. time is running out. a quick line on oil as the bank of russia will con

sberbank is now down 27% and this is over two days in 10 year yields. we have the action from the u.s. and the german chancellor restricting it in the ruble crashing well below 80. the pressure across the asset space in russia and we know the central bank is stepping in with fx interventions. russian forces have attacked targets across ukraine in what president biden called a premeditated war against the eastern european country. equity markets are tumbling. putin says actions taken by russian forces have been necessary. >> the circumstances require firm and immediate actions from us. dmytro kuleba -- the people's republic ask for help from russia. this is the protection of people who for eight years suffered from abuse and genocide from the kyiv regime. >> the government will be in touch. soon i will be in touch again. don't panic. we are strong and ready for everything, and we will defeat everyone because we are ukraine. glory to ukraine. tom: let's get to our reporters around the world. we have henry mayor, bruce einhorn, and maria tadeo was the late

the central bank is limiting withdrawals from sberbank for two days and sberbank in the near future the european union -- unit is a monthly to pay its debt. we are already seeing ripple effects from the swift action. haidi: russia's attack on ukraine leaves its close ally china in an awkward situation. how to still support vladimir putin while limiting reputational damage globally. less bring -- let's bring in our chief agent corresponded stephen ingalls in hong kong. how is beijing walking this tightrope? stephen: very delicately. state media has been muted on the issue. yes there are editorials, but it remains fairly neutral in the reporting. this shows me there is not necessarily a consensus in the top leadership in beijing on how to play this endo forward. this will be a very critical week in beijing in how it illustrates its stance on russia. prior to the olympics when vladimir putin went to beijing the two leaders talked about their relationship having no limits and there was no forbidden cooperation. of course, lots have changed since then. since the attack on ukraine. beijing ha

the moscow stock market, but major russian firms also trade in london, including its biggest bank, sberbankn depositors fled. and the russian gas giant gazprom also fell sharply, more than halving in value today. tonight, the energy giant shell joined bp in pulling out of massive multi—billion pound oil investments in russia and were praised by the government. the central bank of russia had to double interest rates to 20% to try to protect the currency and banned certain types of trade. they were summoned to the kremlin to explain all to president putin, trying to reassure ordinary russians. translation: conditions for the russian economyl have changed dramatically. new foreign sanctions have led to a significant change in the rouble's exchange rate. the possibility of using gold and currency reserves is limited. in an important development, senior russian businessmen began to speak out against the conflict, including the owner of london's evening standard newspaper, evgeny lebedev, asking president putin to stop russians killing their ukrainian brothers and sisters. and banker mikhail frid

the moscow stock market but major russian firms also trade in london, including its biggest bank, sberbankeuropean depositors fled. and the russian gas giant gazprom also fell sharply, more than halving in value today. we are defending democracy and freedom and the most important way we can do that is by supporting sanctions which are incredibly severe and unprecedented in scope and scale and will already be making and scale and will already be making an impact on the russian economy and undermining the putin regime. the central bank of russia had to double interest rates to 20% to try to protect the currency and banned certain types of trade. they were summoned to the kremlin to explain all to president putin, trying to reassure ordinary russians. translation: conditions - for the russian economy have changed dramatically. new foreign sanctions have led to a significant change in the rouble's exchange rate. the possibility of using gold and currency reserves is limited. in an important development senior russian businessmen began to speak out including the owner of the london evening stan

putting some sanctions in place on specific territories yesterday, and sberbank down 23% over two days. the ruble breaking through 80 per u.s. dollar. that is the impact across the russian space. we have a chart we want to bring to your attention. it overlaps on what is happening to the central banks. we heard from the fed official, one fed official suggesting 50 basis points is still in play for march. we have data going to come out thursday that will give us more details. the additional inflationary data that comes before the meeting. effective february 10 or thereabouts and you had the markets pricing and 50 basis points. that is down to 30 basis points now. the blue line is the s&p futures. the white line is the 25 basis point hike priced in. the markets are not pricing and 50 basis points at this point, but the door remains open according to a number of fed officials. we are waiting for that additional data, manus. manus: i think michelle bowman's language overnight is where the treasury market will slip to if there is any kind of progress or de-escalation in the ukraine-russia fo

vtb, sberbank, and gazprom bank. and they are not getting close. >> we did see sanctions in the family the three gentlemen mentioned. i know gold is at $1900 announce. we have so much to talk about. i want to do football and i don't mean the speculation that harry k will re-sign for 150 million pounds. which is dry norma's. -- which is ginormous. jonathan: a massive sponsor the champions league run by uefa. it is said to be held in russia. and a report suggesting out of the u.k. that talks are ongoing. that is the situation we are in. it's a bit awkward having the olympics in beijing given the allegations of genocide in that country. very awkward to hold those finals in russia given what has happened over the long weekend. tom: the russian headline a moment ago, this is a separatist person. we may ask russia for military aid. i thought they were getting military aid, but, you know. kaylee, what is your observation on the morning? >> it raises a question of how much of this was already priced in. we knew what would ha

sberbank shares are trading lower.are seeing selling pressure across the european banking sector stoxx 600 down 5.4%. heavy selling taking place in the names. deutsche bank down 9%. so major selling pressure. let's bring in philipo at federated hermes we are seeing massive selling pressure assessing the damage from the sanctions and the way forward. do these sanctions make sense in the magnitude of the impact? >> good morning. yes, of course, in light of the entire crisis in ukraine, we are experience the first ordinary reaction you have something which has not been tested before it was part of the russian large financial payment system and the global advanced is exposed to the russians with the oil and gas which goes from russia to western europe >> in terms of those gas flows, to what extent will these new measures, the ones targeting the financial sector, obviously, but ejecting top russian lenders from s.w.i.f.t., what could that undermine the access of russian fossil fuels >> it is too early to tell the consequenc

sberbank and vtb aretwo massive -- are two massive ronk shoul -- massive russian financial institutionsthey are hitting the stability of the financial sector, but one area of the russian economy which is the lifeblood of the economy and why president putin is able to have or than $600 billion in reserves is the oil and gas market. we just spoke to the special envoy for global energy security, and he said if they were to put sanctions on russian oil and gas, that would mean you are taking supply off the market at a massive price hike. what he said was president putin would still be able to sell some of that, probably illegally, maybe half at double the price. so putin and the russian economy would still be living off the funds from the oil and gas sector, but every day europeans and americans would be the ones to suffer. kailey: meanwhile, the white house has also been focusing on the vacant seat on the supreme court. we have gotten confirmation that biden has nominative ash has nominated judge ketanji brown jackson -- has nominated judge ketanji brown jackson. this is the high court. th

that could be sberbank and vtb. they have a little more of a global reach. on the very far side potentially could be this what they would call the nuclear option, pulling russia out of swift. also, potentially another option would be cutting off russian oil and gas. but these two items would be very difficult for european leaders and the president of the united states to swallow because the results would be catastrophic. jonathan: i just went to bring up that ian bremmer tweet, that the u.s. will be bringing up maximum sanctions today. expect the same from the eu and the u.k. goes on to say, "it will have zero impact on putin's behavior." someone asked him what would shape it? i believe will catch up with ian bremmer a little later today. he said china deciding they will not tolerate his behavior. overnight in that emergency security council meeting, china's abbasid are to the u.n. the only 1 -- china's ambassador to the u.n. the only one who did not criticize russia's actions. i wonder how difficult that will be coming to get the chinese on side with what i

has now blocked the assets of all of russia's largest banks, including the largest, sberbank. u.s. sanctioned russian oligarchs who have -- quote -- "enriched themselves at the expense of the russian state." and the u.s. banned exports of technology with any american intellectual property, including semiconductors used in cars, smartphones and missiles. pres. biden: we're going to stop the ability to finance and grow russia -- the russian military. we're going to impose major -- and we're going to impair their ability to compete in the high-tech 21st century economy. nick: president biden warned again that gas prices could rise and urged oil companies not to exploit global instability. pres. biden: my administration is using the tools, every tool at its disposal to protect american families and businesses from rising prices at the gas pump. we're taking active steps to bring down the cost. we are closely monitoring energy supplies for any disruption. nick: american sanction timed with european export controls announced by european commission president ursula von der leyen. urs