scholz.pent the last half hour or more topping — scholz. we spent the last half hour or more topping together - scholz. we spent the last half hour or more topping together and - scholz. we spent the last half hour or more topping together and it's l or more topping together and it's been a very useful meeting. —— talking together. one thing that struck me was the shared values that shape how each of us approaches leadership, among them, the foundation of commitment to the dignity of workers. and the need to treat all people with respect. so i enjoyed speaking with you, 0laf, and i know we will work together to continue to strengthen and deepen the extensive partnership between germany and the united states. of course, at the top of our agenda today was a united approach to deterrence russia's threats against ukraine, and the long—standing principles of rule—based international order. that's what we spend most of our time talking about. germany and the united states are allies and partners wo

thank you, chancellor scholz. mr. president, i have wanted to ask you about this nord stream project you long opposed. you didn't name this by name or by chancellor scholz. did you receive assurance that germany will in fact pull the plug on this project if russia invades ukraine? and did you discuss what the definition of invasion could be? and then chancellor scholz -- if i may ask, chancellor scholz, you said there were some strategic ambiguities that was needed in terms of sanctions. i just wanted to know whether the sanctions you are envisioning and you are working on and the u.s. as well already finished, finalized, or is there still work ongoing? you are not really saying what the details are. is that just an excuse, germany may not support the swiss measures? president biden: let me answer the first question first. if russia invades, that means tanks, troops crossing the border of ukraine again. then, there will be -- there will be no longer a nord stream 2. we will bring an end to it. reporter: how will you d

to address all this, chancellor scholz, thank you so much for being here.ate it and we appreciate your time to talk to the united states and our viewers worldwide. that source close to the ukrainian government tells me, germany is increasingly viewed as more of a russian ally than a western ally by many in eastern europe and kyiv. what is your response? >> absolutely nonsense and all know about it. we are the biggest donator, together with the united states, to ukraine. more than $2 billion we spent since 2014 and we are with the u.s. who is giving more. we are giving money to ukraine via the european union. if we just look at our share. 3.8, which is coming the what i already said. so there is a strict cooperation and support for ukraine for many years, which we are doing and which we will continue to do. >> so you and the foreign minister won't say explicitly that if russia invades ukraine, the nord stream two pipeline is dead. and i've heard you refer to this as a strategic ambiguity. but it got president zelensky so angry today, he wouldn't even meet wi

what the ukraine wants is weapons and ammunition that is something that scholz will not bring he willist on financial aid. germany has donated 2 billion euro in aid to the economy and that is what scholz might refer to again and there might be more for the ukrainians in termsof financial aid. germany will shy away from delivering weapons into the country. when he goes on to meeting vladimir putin tomorrow in moscow, his message will be clear. he will bring that message of tough sanctions ahead for the russians in case vladimir putin decides to invade ukraine once again. perhaps we will listen to what he said over the weekend regarding sanctions. >> translator: it's necessary to be clear in the event of military aggression against ukraine, that will lead to tough responses and sanctions that we have carefully prepared and make effective immediately. together with allies in europe and in nato. >> reporter: so scholz has been preparing that meeting detailed. especially he has met with angela merkel, the former chancellor, who has known to be close or known to be close to vladimir putin a

thank you, chancellor scholz. mr.anted to ask you about this nord stream project you've long opposed. you didn't mention it just now by name nor did chancellor scholz. did you receive assurances from chancellor scholz today that germany will in fact pull the plug on this project if russia invades ukraine? and did you discuss what the definition of invasion could be? and then, chancellor scholz -- >> translator: if i may ask you, chancellor scholz, you said there was some strategic ambiguity that was needed in terms of sanctions. i just wanted to know whether the sanctions you are envisaging on and you are working on, the eu is working on the u.s. as well are already finished or is there still work ongoing? you're not really saying what the details are. is that just an excuse for germany maybe to not support the swift measures? >> first question first. if germany -- if russia invades, that means tanks or troops crossing the border of ukraine, again, there will be no longer a nord stream 2. we will bring an end to it. >

olaf scholz is going to be in washington, d.c. you have resident -- president vladimir putin -- president macron heading to moscow to sit down with president putin, who just met with xi jinping of china at the beijing olympics. you have moscow and beijing forming closer ties, and part of that comes at a time when the west is trying to clamp down on russia, but at the same time trying to talk tough on china. a lot of this signals to what could potentially be a precarious future. jonathan: did you see it was jay powell's birthday? lisa: he's in aquarius. jonathan: i forgot to mention. we should be careful about birthdays and make sure we don't miss them, and say happy birthday to annmarie. i promised her i wouldn't do this but these moments are important. this is a big one. lisa: she is literally light, i'm going to run away now. jonathan: why are you at work on your birthday? annmarie: because the past six months when olaf scholz was here, i was able to have 10 minutes or so with him. i didn't want to miss his visit. jonathan: does

important to see that scholz can make his trip to moscow. a job for him. they have already been putting that expectation over the last 24 hours about this meeting, but it certainly needs to keep the conversation going on without breaking the unity of the west. and without raising the issue of nord stream 2, keeping that away from the conversation. does olaf scholz have the power to deter vladimir putin? i do not think so. francine: will run nato -- will nato get their act together? if they give russia a green card, could that mean that china becomes more aggressive as well? wolfango: when we look at the american statements, on their side, there concern is about the invasions happening today and tomorrow, whatever they mentioned. what is more interesting for us is that no american soldiers will be sent to fight ukraine, which is physically saying that ukraine is not part of our scale of plans and therefore we can find a diplomatic solution around this. this was mentioned yesterday by olaf scholz where they have been clear that ukraine is not

president, and thank you, chancellor scholz. mr. ask you about this nord stream project that you've long-opposed you didn't mention it just now by name, nor did chancellor scholz. did you receive assurances from chancellor scholz today that germany will, in fact, pull the plug on this project if russia invades ukraine, and did you discuss what the definition of invasion could be, and then chancellor scholz -- >> if i may ask, chancellor scholz, you said there was some strategic ambiguity that was needed in terms of sanctions. i just wanted to know whether the sanctions you are envision ing and you are working on and the u.s. as well already, are they finalized or is there still work ongoing? you're saying what the details are, is that just an excuse that germany made to not support this? >> let me answer this. if russia invades, that means tanks or troops crossing the border of ukraine, again, then there will be no longer a nord stream two. we will bring an end to it. >> but how will you do that exactly since the project and control

let�*s get more on those talks in washington between biden and scholz.ok at thejoe biden and olaf scholz axis they are pretty much to extremes of the west�*s perspective on how harsh to go on russia. what was their meeting like?— on russia. what was their meeting like? there are a lot of lawmakers _ meeting like? there are a lot of lawmakers who _ meeting like? there are a lot of lawmakers who have - meeting like? there are a lot - of lawmakers who have expressed concerns over germany�*s position in regards to the russian aggression as far as ukraine is concerned. and some have criticised germany for been missing in action with their refusal to reveal what sort of sanctions they might be willing and that sort of thing and of course the nord stream to pipeline is a means of conveying energy from russia to germany which the germans believe is crucial for fulfilling energy needs going forward and america has always been dead set against it, not least president biden and it emerged from this meeting that president biden has said he believes it will be a swit

chancellor scholz as plenty of tools at his disposal to join his allies and a strong signal to putin aggression against ukraine would carry a tremendous cause. let's take one example. the bipartisan course in congress has opposed the nord stream to pipeline for years. we have viewed as a new geopolitical tool for putin to undermine ukraine and divide europe. germany acknowledges the international community's concerns, hence german delays in moving the project forward. it would be a powerful demonstration of german leadership for chancellor show to declare firmly and simply that russian escalation in europe will result in determination of nord stream to, i don't know the polish, the end of the pipeline. likewise with scented important message of chancellor scholz commits like other nato allies have done and like his own predecessors national security advisor just recommended germany will help ukraine with legitimate military capabilities so we can better defend itself against aggression. in conclusion matter president germany has been an important filler in nato and a strong ally of t

— unreliable partner, and that's why olaf scholz has _ unreliable partner, and that's why olaf scholzof take _ olaf scholz has suddenly woken up to kind of take part— olaf scholz has suddenly woken up to kind of take part in— kind of take part in crisis communications - kind of take part in crisis| communications because kind of take part in crisis. communications because he kind of take part in crisis- communications because he has realised — communications because he has realised that _ communications because he has realised that his _ communications because he has realised that his poll— communications because he has realised that his poll numbers i communications because he has. realised that his poll numbers are sinking _ realised that his poll numbers are sinking here — realised that his poll numbers are sinking here at— realised that his poll numbers are sinking here at home _ realised that his poll numbers are sinking here at home and - realised that his poll numbers are sinking here at home and also - realised that his poll numbers are i sinking here at home and also allies a

is interesting that olaf scholz trying to take _ interesting that olaf scholz trying to take a — interestingke a message of unity from kyiv to moscow potentially. i think there's— to moscow potentially. i think there's been a lot of scrutiny about what _ there's been a lot of scrutiny about what his— there's been a lot of scrutiny about what his messaging has been particularly around the nordic stream — particularly around the nordic stream to issue, the pipeline that has been — stream to issue, the pipeline that has been built direct from russia to germany— has been built direct from russia to germany to— has been built direct from russia to germany to pipe and gas. obviously already— germany to pipe and gas. obviously already up— germany to pipe and gas. obviously already up and running. a lot of concern — already up and running. a lot of concern i — already up and running. a lot of concern i think in the west that a real misstep was made in the wake of the 2014— real misstep was made in the wake of the 2014 annexing of crimea by russia — the 2014 annexing of crimea by russia. they really

president biden is meeting with the new german chancellor olaf scholz. and mj it comes after we just learned germany is prepared to enforce unprecedented sanctions on russia if the kremlin fails to de-escalate tensions with ukraine. this from the country's foreign minister. what can we expect to come from biden's meeting with the german chancellor? >> ana, this is an incredibly important and critical diplomatic meeting. and there are a number of challenges facing president biden. one is just the simple reality that we have been talking about for weeks that germany essentially has shown a real reluctance to be forceful when it comes to russia and its dealings with ukraine. whether it is on the question of sending arms to ukraine, whether it is boosting troops on the -- along the eastern flank and the question, of course, of sanctions. we expect that to be a big part of the discussions between the two leaders that will take place any moment now here at the white house. and then, of course, there's the dynamic that olaf scholz is a relatively new chancellor

that is world war ii olof scholz signed off on the issue. also allocating to an armed forces fund and ramp up to the military spending. this pushed defense stocks sharply higher with the largest beneficiary of the shift you see the defense stocks are catching incredible bid this morning as investors price in what this increase in defense spending will mean for the stocks the manufacturers of the defense goods. i want to flag what is happening in the russian ruble the center of the attention over the weekend. the russian ruble with losses. moving to 97 versus the dollar down on the day. currently at 100 the central bank in russia coming out this morning trying to over defense of the currency and reassurance that we won't see a further plunge in the ruble. let's talk through that will be the case the head of the strategy from goldman sachs joins us now thank you for being with us. this morning, the russian central bank came out raising interest rates to 20%. clearly an attempt to offer reassurance in the wake of the news this weekend that the

and to signal transatlantic solidarity, german chancellor 0laf scholz flew to washington for talks ondent biden. if russia makes a choice i to further invade ukraine, we are jointly ready- and all of nato is ready. moscow insists that it is the victim here, that russia is a besieged fortress, threatened by america, by nato, by a ukraine hostile to moscow. what the west is struggling to work out is if diplomacy ends, what will russia do next? steve rosenberg, bbc news, moscow. here's the bbc�*s north america correspondent, david willis, with more on those talks between biden and scholz. president biden went as far as to say if russia were to invade ukraine, there would be, as he put it, "no longer any nord stream 2 pipeline". america has been long opposed to the project, and this meeting at the white house today seems pretty crucial as far as establishing germany's position to the package of economic sanctions that the united states and europe are looking to unveil. today, 0laf scholz didn't go as far as mr biden in actually specifying what would happen to nord stream 2. he said he wou

olaf scholz is untested in diplomacy. he is different from angela merkel who was a fluent russian speaker. francine: i have to say that all accounts say this is a tougher vladimir putin. sharon bell joins us now from goldman sachs. i don't know how you play the ukraine situation but it could have a feedback loop into inflation. sharon: this could not, a worse time. growth is slowing. inflation has picked up. an additional heightened risk environment between russia and ukraine is adding into the mix. it is likely to push up energy costs. the only thing to say on the flipside is people are aware of the risk. francine: this is difficult to call because it is down to vladimir putin. no one has an insight into his brain. as a tactical allocation manager , do you sit on the fence or do you have to make a call about going to $100 barrel or upwards? sharon: you can shift your portfolio to reduce the risks even if you are not making an absolute call on what vladimir putin is going to do. we recommend commodities. you can hedge you

. i olaf scholz in the country toda . ., olaf scholz in the country toda . . ., , olaf scholz in thery toda. . ., , . today. i am not very optimistic about the _ today. i am not very optimistic about the diplomatic _ today. i am not very optimistic. about the diplomatic approaches and we have already seen president macron of france come back pretty much empty handed from that famous meeting with putin on that very long table. i don't hold out much the norm degroot, france, germany, ukraine and pressure and its diplomatic efforts. i don't think that pressure puts enough way and watch the germans can achieve. they want to talk to the us, they see the us as the primary diplomatic channel for any resolution of the conflict. in terms of germany's position, it has yet to allow the use of nord stream to the pipeline that brings gas from russia direct to ukraine. is that a big tool within this diplomatic conversation, in terms of the threat of a possible economic sanction? it threat of a possible economic sanction?— sanction? it is one of the tools that _ sanction? it is one of the tools tha

thank you, chancellor scholz. mr.sk you about this nord stream project that you've long opposed. you didn't mention it just now by name, nor did chancellor scholz. did you receive assurances from chancellor scholz that germany will pull the plug on this project if russia invades ukraine and did you discuss what the definition of invasion could be? and chancellor scholz, if i may ask you, you said there was some strategic ambiguity that was needed in terms of sanctions. i just wanted to know whether the sanctions you're envisioning and that you're working on and the u.s. as well already finished, finalized or is there still work ongoing? you're not really saying what the details are. that is just an excuse for germany not to support the swift measures? >> let me answer the first question first. if germany -- if russia invades, that means tanks and troops crossing the border of ukraine. again, then there will be no longer a nord stream 2. we will bring an end to it. >> how will you do that exactly? since the project and

scholz has taken the chancellery in germany at a time of crisis.llows angela merkel, who was very clear in her positions and leadership, she was the one who rallied countries to sanction russia, when it invaded crimea. he has kept a low profile. his coalition made up of three parties is not entirely in agreement on how to approach russia -- the social democrats have a history of being more friendly. and have warmer ties with the kremlin. there have been questions, because he has not come out more forcefully. here in the u.s., the big question is that pipeline you mentioned -- nord stream 2. we had very confident proclamations by senior administration officials that if russia doesn't bid ukraine, than that pipeline -- does invade ukraine, then that pipeline would not begin to transport gas. the germans have not been categoricalized at all. mr. scholz has been saying everything will be on the table if there's an invasion. he said in an interview recently, we need to have a certain amount of strategic ambiguity, i'm not going to spell out the details.

have you talked yourself to 0laf scholz? not yet. i talked to the previous chancellor, frau merkel.nd—a—half hours and at least for one hour and a half, were discussing nord stream 2. because i just wonder whether you believe that even now, in this moment of crisis, that the united states and the europeans are really on the same page when it comes to the message being given to vladimir putin, because whilejoe biden talks about the severest of sanctions which will utterly cripple the russian economy, we don't get the same message from the europeans. we've just had emmanuel macron in moscow, five hours of meetings with putin face—to—face, saying that he understands that moscow has some legitimate security interests which nato needs to address. 0laf scholz, as i say, refuses to promise that he will abandon nord stream 2, even if the russians invade. do you think the united states and europe are on the same page? not exactly, because, unfortunately, many politicians inside europe, they favour this mentality of balance of powers and they sometimes look at russia first of all as some kind

today, olaf scholz didn't go as far as mr biden.ppen to nord stream two. he said he would put all options on the table, but wouldn't get into specifics. when he was asked how he would actually bring an end to the nord stream two project in the event of a russian invasion, mr biden wouldn't go into specific. but the german leader did express, however, germany's strong commitment to economic sanctions, which isjust what the united states was hoping to hear. germany has been criticised here for sending 5000 helmets, but nothing in the way of real military support to ukraine. that's a corrected criticism from lawmakers of both parties here. germany also brought other countries from transferring german arms and equipment to ukraine, and the biden administration has been working very hard to co—ordinate a united european response to the russian aggression on ukraine's border. today, mr biden was full of praise for germany, saying it was a close ally and one that was completely reliable, and mr schultz affirmed his support, germany's suppo

. >>> the kremlin says there are no plans with a meeting with joe biden and vladimir putin and scholzs he is calling for immediate sanctions. >> makes no sense to make them public what we expect to get the russian government is not really sure exactly what to do. >>> credit suisse rejects allegations after a data leak reveals the lender held accounts for criminals and human rights abusers and sanctioned dictators. >>> and uk prime minister boris johnson will lift all restrictions in england as we live with covid and bill gates says another pandemic is all but certain. >> the cost for the next pandemic is not super large. it is not like climate change. if we're rational, yes the next time we'll catch it early and won't go global like it did this time >>> warm welcome to "street signs. excited to have rosanna in the studio we have fresh data from the eurozone these are the flash pmi the services sector has come in at 55.8. that is up from 51.1 in january. in terms of the breakdown with services and manufacturing, the manufacturing flash at 58.4. compared to 58.7 in january. that service

annmarie: it is the germans, olaf scholz -- maria: it is the germans, olaf scholz.ladimir putin meeting with him tomorrow for the first time here this is a chancellor who is under huge pressure. domestically, polls continue to drop for him. he is stuck with a gas problem and economic problem. if there are big sanctions on the russian economy, it is germany that will hurt most. tom: help us with our perspective -- we have world war ii, then we have, basically, gorbachev allowing for the epa chief -- repatriation of east germany. right now, how does mr. putin perceive germany 2022? maria: i think that is unclear, and it is unclear because it is new leadership. when it comes to angela merkel, that is someone who grew up in east germany, who spoke fluent russian. the two of them had an understanding. you could argue a lot of the problems germany and russia have are the making of angela merkel and the appeasement she pursued 14 years. but for vladimir putin, this is a test when it comes to olaf scholz. he does not know this man, does not know how far he can push him. he

what does president biden need or want to hear from olaf scholz today.rie: president biden and the white house, even those back home in germany,

talks continue as he prepares to meet with all off scholz tomorrow. -- olaf scholz tomorrow.credible complexity and also simplicity. verizon making 5g more accessible by announcing an expansion to its internet service to additional cities. you may have seen the cable guy commercial at the super bowl yesterday. all of that and more coming up. jon: let's get everyone caught up on what has been happening in the major averages. there is a look at the story from north america. matt was alluding to this, basically a flat session at the end of the day. we know there has been some willingness to buy some of those hard-hit technology stocks but there is an interesting dynamic where investors are getting a bit cautious on energy. we have seen that in canadian trading. that is one of the bread and butter sectors for the tsx. for what it's worth, mike morgan of morgan stanley, adding to that case. given the tension we are seeing with russia and ukraine. saying a war materially increases the odds of what he calls a polar vortex for the economy in earnings, with a spike in energy prices th

it was very interesting to see yesterday the talks between olaf scholz and vladimir putin, scholz has said the answers the russians have gotten about the security demands, it involves nato force withdrawal in eastern european countries and guarantee ukraine would not join nato as well. they do feel there are still grounds to continue those talks. olaf scholz, the german chancellor, says the west needs to see deescalation. in a press conference after vladimir putin i asked him on what issues he pressured the american president and here's what he had to say. >> we have a very clear strategy and this is first saying that if there would be a military aggression against ukraine, that this would have hard consequences and we are well prepared to decide the necessary sanctions. >> reporter: so the german trans l -- chancellor olaf scholz saying he wants to have a prodder discussion about security in europe and they say they want their demands to be spoken of. they want that to be a longer term discussion. it looks as though the key demand is not one that will go away any time soon. >> indeed

nor did chancellor scholz.hat germany will in fact pull the plug on this project if russia invades ukraine? and did you discuss what the definition of invasion could be? and then chancellor scholz -- >> translator: if i may ask you, chancellor scholz, you said there was some strategic ambiguity that was needed in terms of sanctions. i just wanted to know whether the sanctions you are envisaging and you are working and the u.s. as well, already finished, finalized, or is there still work on going? you're not really saying what the details are. is this just an excuse for germany? >> let me answer the first question first. if russia invades, that means tanks and troops crossing the border of ukraine again. then there will be, there will be no longer a norse team two. we will bring an end to it. >> translator: how will you do that exactly since the project and control of the project is within germany's control? >> well, i promise you, we'll be able to do it. >> thank you very much. we have intensively prepared ever

vladimir putin describes the meeting today with olaf scholz as businesslike. thought that was quite interesting. olga: yes, we know very well that berlin and moscow have a particularly close relationship when it comes to nato allies, and that in the last few years, we were all looking to berlin to be able to engage moscow when things were at their worst. so whilst olaf scholz did not show the same capacity to publicly engage in at least the discourse of diplomacy and the first few weeks and months of this crisis, it was incredibly welcome to see him trouble first two give -- first to kiev and to moscow. i think we are seeing what olaf scholz as chancellor will look like, with eastern focus policy orientation. kailey: maybe we are watching olaf scholz's foreign policy take place in real time. what about the biden administration? have they indeed brought the u.s. back to the global stage to be the global foreign policy leader, at least for the west? olga: i think biden has been a leader on this, but it is very clear that this is a coordinated and very well coord

olaf scholz is in ukraine today. he travels to meet with the tomorrow. let's get an update on what we need to know with both of these meetings. maria tadeo joins us with the latest from brussels. talk us through what the german chancellor is hoping to achieve, what he brings into this puzzle? maria: two things. when you look at what he has been doing in ukraine, clearly it is about the money. this is a country that is already hurting financially and is in turmoil because of all of the instability. today olaf scholz was there to say we will provide financial help ukraine and also reiterated the pledge the territorial integrity of the country cannot be negotiated. there was also another line that caught my eye from his press conference, especially when we take into account tomorrow he will be in russia. he said if the russians were to invade ukraine, we will know what to do. he did not detail what that means, but this is a tougher tone from the german administration, saying if there is an invasion we will know what to do when it comes to russia. a lot of t

jonathan: is it a baptism of fire for chancellor olaf scholz?i'm not sure what the reset will be. what's important with chancellor merkel is not the same as the new guy on the lock and they will be an adjustment to the message given the baggage back to world war ii. jonathan: he has inherited some problems on the domestic front. lisa: not only his he dealing with inflation but he's also dealing with their dependence on autocratic nation that will use that as leverage. why isn't there more being discussed about investing in infrastructure that can move away from the fossil fuel? they don't even take green into account. jonathan: the commercial dependence on two autocratic nations, not just one. lisa: and this is the reason why they're using the division between the corporations and these nations and the government to their benefit and they can continue to do that. jonathan: the mood in this market proves in a big way with a oz on the nasdaq 100 and the s&p 500. yields are higher by five basis points and crude is lower, down by 3%. jonathan: we ge

olaf scholz has come in relatively new. not wet behind the ears, he was vice chancellor in the last four years of the merkel government and was finance minister. which is, in many views, the second-most powerful position in the german government. he is certainly someone with a lot of experience. but, it is a different thing than what we had before. i think the united states is being smart in allowing multiple points of contact with vladimir putin and multiple pressure points to try to get this thing to not move on to an invasion. kailey: other than angela merkel not being involved, i am wondering what else is critically different than in 2014 and why eight years later, you think vladimir putin thinks it is a time he things he might be able to make a move like this. john: there are several things, he is looking at a change in government in germany and macro own -- emmanuel macron running for reelection. there has been a lot of change and transition and maybe there is an opportunity. secondly, what putin probably wants more t

olaf scholz soke a as far as sanctions go. olaf scholz spoke a lot _ as far as sanctions go. lot about _ as far as sanctions go. olaf scholz spoke a lot about the _ spoke a lot about the financial commitment he had made or the country had made to ukraine. also putting emphasis on the minsk cards. take us through what those are and why germany is banking so much on those —— minsk accords. the why germany is banking so much on those -- minsk accords.— those -- minsk accords. the minsk accords were _ those -- minsk accords. the minsk accords were hammered _ those -- minsk accords. the minsk accords were hammered out - those -- minsk accords. the minsk accords were hammered out at - those -- minsk accords. the minsk accords were hammered out at a l those -- minsk accords. the minsk i accords were hammered out at a very difficult time for ukraine just when it was emerging from this long hybrid war that it was having with russia over the course of 2014—2015. at a time of weakness relief for the ukrainian leadership, which is why it is so difficult right now to get a full agreement

olaf scholz is in d.c.ng with president biden seemingly to cancel the nord stream 2 if moscow invades ukraine. basic resources gaining 2%. michael's up 1%. autos and parts in positive territory. technology down 0.4%. that is the picture 30 minutes into the trading session. francine: this is what we are looking at when looking at credit spreads. the credit market is showing signs of stress, which is what we are watching. there is a great chart looking at that, looking at the stress level they saw back in december 2020 compared to now. rising yields in corporate bonds with how yields are being impacted, and that could have a repricing for the broader market. tom: we are seeing credit stress around the edges. we should not get too concerned according to some, but you are seeing the reaction function now. when you compare back to october, november, this is last year, when you saw those spreads tighten and yields rise on the sovereign's. the white line is what we are seeing in terms of the u.s. 10 year yield, an

we see olaf scholz say that nord stream 2 was essentially done at the moment.d president biden use similar language that chancellor schultz would not use. i think the alignment is still there and this might be the cadence of how the actions are being rolled out more so than anything else. katie: vladimir putin had to make this calculation. knowing full well the threat of sanctions is on the table. as the russian economy well enough fortified, and the repercussions that followed suit? can vladimir putin withstand this much better? >> the deterrent has been the real question. is the threat of sanctions enough to to determine -- to deter president putin? the answer is no. there has not been a scenario with this set of sanctions so comprehensive. so i don't think fortress russia could handle the full salvo of western sanctions. looking at markets, there is voting with their feet with how well russia can sustain this. jonathan: no doubt we will be catching up with you through the weekend. just turning positive again on the s&p. >> i don't look at the nasdaq. we are

what would _ join —— chancellor olaf scholz. what would you _ join —— chancellor olaf scholz.translation: ~ ., ., ~ ., translation: we have talked about many topics- — translation: we have talked about many topics- my _ translation: we have talked about many topics. my position _ translation: we have talked about many topics. my position on - translation: we have talked about many topics. my position on mr- many topics. my position on mr navatny— many topics. my position on mr navatny is _ many topics. my position on mr navalny is clear. a conviction is not acceptable in our opinion and i have _ not acceptable in our opinion and i have already said that. translation: i understand my guest is offerin: translation: i understand my guest is offering me — translation: i understand my guest is offering me the _ translation: i understand my guest is offering me the opportunity - translation: i understand my guest is offering me the opportunity to - is offering me the opportunity to answer the questions. first of all, as for how russia will proceed, rush it will proceed according to

.— meeting with olaf scholz.fected by all of this? life goes on as _ being affected by all of this? l152 goes on as normal. it being affected by all of this? i t2 goes on as normal. it has been a beautiful day for the last two days, i don�*t know if you can still see the clear skies behind me. it�*s easy to see what there is not. there are not sandbags, military checkpoints, we have not seen any soldiers today for example. for ukraine�*s capital, at least, it is still a political story. there are still intense discussions going on, some newspapers detecting an invasion on wednesday which in the eyes of president zelensky is incredibly unhelpful. he is still trying to install calm and if you look at things on face value, that seems to be working. if you talk to ukrainians, some are avoiding the news, some are tired of the endless speculation and it is difficult to ignore. it does have an impact when you have got 130,000 russian troops manoeuvring along the seat of the south or east or northern borders. it does tak

chancellor scholz: thank you very much for your question. i want to be absolutely clear -- we have intensively prepared everything to be ready with the necessary sanctions if there is 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. it is part of the -- this process that we do not spell out everything in public because russia could understand that there might be even more to come. and at the same time, it is very clear we're well prepared for far-reaching measures. we will take these measures together with our allies, with our partners, with the u.s., and we will take all necessary steps. you can be sure that there won't be any measures in which we have a differing approach. we will act together, jointly.

olaf scholz saying no.ot the kind of does the unity they want to show at this point -- not the kind of disunity they want to show at this point. jonathan: a dark day for europe and ukraine. with the leadership response has been clear. there accusing russia of bringing war back to the comment. things we not seen for a long time. russia has invaded ukraine. russia would like to demilitarized the country and change leadership. the people of ukraine are in for a tough time. foreign leadership has to react. we will get that reaction from the president of the united states at 12:30. full coverage will continue on bloomberg tv and bloomberg radio. from the bloomberg surveillance team, thank you for choosing bloomberg. ♪ >> from the world of politics to the world of business, this is "balance of power" with david westin. david: welcome to a special edition of balance of power covering the russian invasion of the rain. i am joined by joe mathieu in washington. it is a different day today that was yesterday, isn't it

on sunday, scholz said he was open to deploying more german troops to lithuania to help prop up nato'smilitary presence in eastern europe. the u.s. topped 900,000 recorded deaths from covid-19 friday. president biden marked the grim milestone by urging all americans to get vaccinated and boosted. case numbers are steadily falling from this winter's omicron-fueled highs, though experts say related deaths, which now average over 2500 per day, have yet to peak. new jersey governor phil murphy is lifting his state's mask mandate in schools. this follows a similar decision in pnsylvania last month. the governors of new york and connecticut said last week they are reconsidering school mask mandates as well. in international coronavirus news, turkish president recep tayyip erdogan said he is experiencing mild symptoms after testing positive for covid-19. separately, recently sworn-in honduran president xiomara castro also tested positive with mild symptoms and announced she is working in isolation. in canada, the mayor of ottawa has declared a state of emergency, sayg the cityas under ege fro

not anymore, the new chancellor olaf scholz tweeted. .. new chancellor olaf scholz tweeted...r choice. the list continues to expand. giants from turkey and germany policy shift meets country with german made weapons can also share those. the extra support has been noted. on friday president zelensky said ukraine was left alone but a saturday night he tweeted... the reason they a challenge here. getting military aid into ukraine is more complicated now stop for example, flying weapons in poses an unacceptable risk.— unacceptable risk. anti-tank, anti-aircraft _ unacceptable risk. anti-tank, anti-aircraft system - unacceptable risk. anti-tank, anti-aircraft system can - unacceptable risk. anti-tank, anti-aircraft system can be i unacceptable risk. anti-tank, - anti-aircraft system can be tracked anti—aircraft system can be tracked across the border, picked up by the ukrainians. the vital problem is to get the stuff in in the volume needed as quickly as possible but then of course ukrainian forces to be able to distribute them. and then of course ukrainian forces to be able to di

german chancellor scholz is meeting with president biden right now.e are getting headlines that they will discuss exactly what you would expect. russia and ukraine are front and center but they will also discuss covid and china. for more let's bring in oksana antonenko, director for global risk analysis at control risk group. she formerly worked at the european bank for reconstruction and development. my main question over the last few weeks has been is there any way for germany to stop buying gas from russia even in the event of an invasion which we know the russians have denied they have planned, but if that were to come to fruition, would the germans still continue to buy their gas? oksana: germany is currently not in a position to stop buying russian gas because there is still substantial dependence on the import of russian gas. european union imports 40% of its gas from russia and there is simply no gas anywhere else in the world, including from united states, which can replace large volumes of russian gas. we know that in europe the gas storage

german chancellor scholz and president vladimir putin are meeting as we speak.st is looking for concerns. let's bring in helima croft at rbc capital. she is saudi arabia at the conference with the iea and opec helima, you are a busy woman these days i want your take on the news we got a couple of hours ago about what is going on at the border of russia and ukraine and movement off the deployment bases. do you believe this is deescalation the energy market is reading it as such. >> they are continuing to do military exercises in belarus and the black sea. we don't know if this is a true deescalation the foreign minister lavrov indicated the russians are willing to continue negotiations it does not look like they are demand about ukraine never in nato is there. we don't know if this is a true deescalation. >> of course, a lot of discussion about what the united states could do if russia does invade ukraine however, oil or energy could be exempt from the sanctions. what are we looking at as a potential disruption to the energy market when it comes to the united sta

president biden hosting germany's new chancellor, olaf scholz. the message, no daylight between these two critical allies. a united front threatening russia with the severe sanctions if it attacks. >> we are in agreement that it cannot be business as usual if russia further invades. >> reporter: and a pledge from germany's new leader. >> we will be united. we will act together. >> reporter: but there were cracks in the alliance. germany has been criticized for refusing to join the u.s. and the uk in sending military hardware to ukraine. amid worries about germany's reliance on russian natural gas, and that controversial nord stream 2 pipeline from russia into germany. president biden stunned the room with a blunt threat against the pipeline, if russia invades. >> there will no longer be a nord stream 2. we will bring an end to it. i promise you we'll be able to do that. >> reporter: chancellor scholz did not specifically respond. and biden repeated his warning for all americans except embassy staff to leave ukraine, but he left open the hope of d