so what makes the us treasury so special? and i think the response of that is that every security in the world is priced off of us treasures. the treasury represents the very bottom layer of low risk and, and, and, and, and, well understood pricing so that when companies come to market, they price their dead as of a relative to where the treasury yields are. if questions coming to mind about the, the viability of us treasury as a secure asset, as the se is credit credit, where the assets, then every other company and every other country will be having difficulties pricing their securities and their assets. so that's why everyone talks about the us treasury, it's having a very special place in the world markets and, and any kind of question of default would bring this disastrous consequences, because you would then freeze up the ability of companies around the world. and then countries around the world to issue bonds to finance their, their spending. and i think one of the consequences we've seen is that people are beginning to

why, you know, having the same needs to find things on us. treasury been with us treasury palms, so wouldn't be for them. so out simply reduce the domestic savings ratio and baffled that have less money. so investor sees an importantly one of the by products i think would be to encourage even trust devices. a personal consumption lies in, in china and not with benefits. china citizens and honestly, uh, an offsets. anything they should be wondering about about the consequences of not having so many us treasury. yeah. some people saying they can't even so they can't even satisfy their own. then move on in the next few years in china who, who knows, but uh, what about those who say the, there are problems in the european union in the united states that are insurmountable in the face of what's going on in the rest of the world. i don't know why you think um, reportedly mama been solomon and, and be said here in the united i remember it's did non sub i was called to reduce both to increase output and reduce oil prices. do you think that symptomatic of what's happening with bricks, power? i know y

one, my, you know, having the same needs to find things on us. treasury, we've been told us treasury problems, so would be for them. so out simply reduce the domestics and ratio and baffled that have less money. so investor sees an importantly one of the by products, i think would be to encourage nathan foss, devices a personal consumption rising in china and not with benefits. china citizens in almost an offset. anything they should be worrying about about the consequences of not having so many us treasury. yeah. some people saying they can't even have, they can't even satisfy their own. then move on to in the next few years in china who, who knows. but what about those who say the, there are problems in the european union in the united states that are insurmountable in the face of what's going on in the rest of the world. i don't know why you think um, reportedly mama been seldman and m b 's at here in the united. i remember it's did non sub items cool to reduce will have to increase output and reduce oil prices. do you think that symptomatic of what's happening with bricks, power?

we begin in the us, where the treasury secretary, janet yellen, has sounded a stark warning over the country's debt ceiling. this is the amount of money the us government is allowed to borrow to pay for pretty much everything they do. without an agreement to increase what the federal government can borrow, it could run out of money by earlyjune. at that point the federal government might not be able to make wage, welfare and other payments. our north america business correspondent michelle fleury is live in new york for us. we have been here before but once again, a stark warning that if nothing is done, it causes huge repercussions around the world. this is because as — repercussions around the world. ti 3 is because as you say it is going to affect the jobs of government employees in the united states and have a knock—on effect on the border economy, but then there is beyond the shores of the united states, the kind of ricochets it will have around the global financial system and that is why you have had this increasing drumbeat as we get closer to the kind of point at which the tre

the us treasury resorted to other extraordinary measures to ensure the government could meet its obligations if the ceiling is in raising time by the congress. the us risk defaulting on is that okay, you've seen the markets, wouldn't you? and the economy would slow down, hundreds of thousands of jobs could also be at risk as it would be hard to avoid the recession. it's congress is job to do this. if they fail to do it, we will have an economic and financial catastrophe. the will be of our own making, and there is no action that prison and fighting and us treasury can take to prevent that catastrophe. the debt ceiling has been raised 70 a time since 1960, usually with bipartisan support. still conflict on the topic between the white house and congress is nothing near. back in 2011, president obama to make harsh concessions to republicans. they approve of deb ceiling res, only in exchange. and so i have no budget where i bought change, but as a result of that stall, the crate, a trading of the us was downgraded for the 1st time in the country's history. the apple's number one supplier fox cal

is to come from the rich industrialized nations, especially the us and japan, which had urged washington to put together a large sum treasury secretary, robert reuben, in particular, had long been reluctant to contribute any us budget funds. the, i think in the, i know the space a summer has succeeded in a sort of past rating, blooming and infusing money degrees. so that together with the us government, we weren't able to. so to be fuse, a fairly large amount of money to clear to so the crisis will be, it was a very difficult to learn at that time. the i m f negotiators and korea urge speed, financial help predicting the country's bankruptcy as the only alternative. when it becomes known that the us government didn't want to pay out its participation in cash at all, but only to deposit it as collateral. they are disappointed. in the week running after christmas, a plan b is feverish li discussed in new york, which is supposed to involve the banks of wall street in the rescue of korea. the last resort. the banks must defer any loans due at the end of the year and except longer maturity. but who should act as broker? that's w

according to the announcement of the us treasury department, biden left his asia tour halfway and returned to washington to raise the debt ceiling before the deadline. has to agree with the congress countdown to the risk of bankruptcy the american government has less than 10 days left until the end of the deadline announced by the secretary of the treasury, warning about not increasing the debt ceiling , the fall in debt repayment will set a world record , it will delay us , it will bring the risk of weakening the leadership of the world economy, the debt ceiling that a century ago, congress determined the maximum amount that the us government can borrow, this country has reached its debt level of 31 million dollars, now the us treasury, pointing out that the government of this country may not be able to fulfill its obligations in repaying its debts, many times from she the request to agree to increase the debt ceiling is an issue that has become a dispute between the two republican and democratic parties. republican mccarthy, who is the chairman of the house of representatives, said that

the deadline given by the us treasury isjune 5th. so what does this development mean for asia?hat question to catherine yeung. in terms of what it's going to do for asian markets, it's really going to erase some of the negative sentiment. markets hate uncertainty. this indecisiveness has put a bit of a dampener that we are seeing with the chinese economy. the big countries in this part of the world, china, japan, big holders of us treasuries, so what will this mean for them moving forward? absolutely. $2 trillion worth. we look at those countries, they make up over a quarter of the outstanding monies owed. definitely relief for those governments knowing some kind of arrangement has been made. given the fragile state of the world, the last thing thing we need, concern about potential default, which would have ramifications elsewhere as well as asia. the turkish lira has dropped to a new record low after the electoral authorities in the country declared president recep tayyip erdogan the winner of the presidential election run—off. he will serve another five—year term, taking his

so that, as long as they are able to, they would not strictly defaults on us treasury ponds, but evenus treasury not being able to pay all of its bills, and i am sure the legal challenges would come quite swiftly and i am not sure how the courts would respond, and i suspect this would increase the us borrowing cost for evermore, but it might also just create a general lack of confidence that could be quite persistent. wendy, thank you very much for joining us. wendy, thank you very much for joining us— joining us. yeah, i was happy to. people in the uk are beginning their preparations for the coronation of king charles, which will take place next saturday. in the run—up to the ceremony, the bbc�*s special us correspondent katty kay has been meeting with royal families of other nations to see what lessons they might have for britain�*s new king as a part of her new documentary europe�*s royals revealed. katty, it is great to see you. for your new documentary, you had the enviable job of going to meet... someone had to do it. ..of going to meet europe�*s other royal families and seeing

it urges the us treasury department in particular, to act quickly and decisively. the career was the 10 largest the economy in the world. and that time as it is today, it had only a point, $9000000000.00 in some reserves. not along the terms last the government, it's only a few days president clinton fiscally made a phone call to present to me on some that the south korea is on the financial crisis. the us presidents intervenes making it clear that korea is of a different caliber than thailand or indonesia, economically and above all, geo politically. it's the best in of the west against north korea and china. korea successfully competes on the world market important key industries such as electronics, car, production, and shipyards. it's major companies like thailand's at borrowed heavily abroad in dollars when the exchange rate for thailand's currency, the one promise they are unable to repay their loans. only now at the end of november to the heads of the us administration, realize they must act the factor changing their minds is the geo political dimension. kor

the us economy may plunge into recession, the head of the us treasury echoes biden and predicts economic and financial catastrophe. this would trigger an economic downturn around the world and a default risks undermining us leadership in the global economy. to raise the issue of our ability to protect our own interests over security, the republican-led us house of representatives proposed to raise the national debt limit by $1.5 trillion in exchange for budget cuts, this should be enough to prevent a default for another year until march 31, 24. but the us president calls on congress to raise the limit without any conditions, but donald trump, on the contrary, sort of like recommends declaring default. yes, because the us is building up debt to cover the budget deficit and finance spending. i'm telling republicans , congressmen, and senators, unless there's massive spending cuts, you're going to have to default. i don't believe before the democrats will definitely make concessions. nobody wants a default. but it's better than what we do. now we spend money like drunken sailors, and what d

we begin in the us, where the treasury secretary — janet yellen — has sounded a stark warning over thentry's debt ceiling. this is the amount of money the us government is allowed to borrow to pay for pretty much everything they do. speaking to abc, she says that if lawmakers fail to raise that ceiling the us could be left unable to pay its bills by the beginning ofjune. it is congress's job to do this. if they fail to do it, we will have an economic and financial catastrophe that will be of our own making and there is no action that president biden and the us treasury can take to prevent that catastrophe. russ mould is investment research director at aj bell. we have been here before. all of the same warnings that the us could tape off a cliff if it doesn't raise the debt ceiling and yet more warnings. yes, we have and i think the us debt ceiling has been raised 75 or 80 times in its history and we have had eight government shutdowns while a new debt ceiling has been worked out. we have been here before but i think the treasury secretary is trying to do is get common sense to break ou

the deadline given by the us treasury isjune 5th. so what does this development mean for asia?what does this development meanforasia? i put so what does this development mean for asia? i put that question to carson yeung. in terms of what it's going to do for asian markets, it's really going to... inaudible. put a bit of a damp given that we are seeing... inaudible. the big countries in this part of the world, china, japan, big holders of us treasuries, so what will this mean for them moving forward? absolutely. $2 trillion worth. _ moving forward? absolutely. $2 trillion worth. we _ moving forward? absolutely. $2 trillion worth. we look - moving forward? absolutely. $2 trillion worth. we look at - trillion worth. we look at those countries, they make up over a quarter of the outstanding monies owed. definitely relief for those governments knowing some kind of arrangement has been made. given the fragile state, this concern about potential dee ford, which would have ramifications elsewhere as well as asia. the turkish lira has dropped to a new record low after the electoral aut

poland threatens to take away the object of diplomatic real estate in russia the us treasury sent thedership of the congress. an emergency warning to the country is threatened with default and israel remembers the soldiers of the red army who fought nazism, and in this and not only after advertising, do not switch. deposit the best percentage in sberbank a reliable investment we will make repairs it is more profitable to do it on credit. let's not do anything. sabantuy will have something to remember, we will correctly open a sberbank deposit and everything will be fine. the best interest rate in sberbank is up to 9.5% per annum. why moscow coffee house shares a combination of traditions and advanced technologies of the highest class. a taste of pleasure moscow coffee house on shares i like to recommend. we are sure that you buy osago at a bargain price on compare you will find it cheaper. get osago savings on the number one service in russia if insurance, then be sure compare on the site and in the application millions of people choose phytolax laxative fruit-based chewable tablets.

in order to prevent economic stagnation and increase the borrowing limit, we need the us treasury secretaryhvih for not having a path to find a solution to the banking crisis by increasing the borrowing limit in this country to help economic growth rather than risking the threat of the dollar's position at the global level. and increase the possibility of economic recession and disruption of the stability of the financial markets in the world will slow down the profits of the chinese yuan and will also hit the funding plans of the american government in the fields of defense, medicine and social security, but janet glenn's demands will increase the risk of inflation in more debts. it won't cut american taxpayers will be the losers bitter choices passed to the european central bank expected to take steps to raise interest rates donkey in the microwave the wall is inextricably linked american banks europe could collapse at any moment slowing down the hard wall foundations to it seems that this confusion is being created, which the financial markets of the united states predict will begin soon

we think of the us treasury market, us an answer for the a global financial system. and this anchor needs to halt literally and my colleagues paid to scold, discuss the latest us conferences with dante contributes and chris ends. besides military aids to ukraine is now in the spot like those republicans and democrats towards the region new debt ceiling bill to go the largest economy in the world, not able to service any of it steps. and you know, it's not just a problem for the us as a order. the other countries that depends on the us, the kind of competed by them. what are those countries we will end up down, you know, down the drain, if the us comp paid to pay to help them out. so to do whatever they do with them in addition to their own economy. do you think that democrats and republicans will be able to find a compromise and quite literally, can they afford not to? i don't think they can afford not to. i think the, the, the consequences a to dia. but i think the 1st areas, contention is ukraine, right? the biggest problem i think that we're staying with, with mos

bankruptcy of the us government is less than 10 days until the end of the deadline announced by the us treasury secretary. warning about raising the ceiling debts falling would mark global debt repayment, delay us, risk undermining america's global economic leadership , the debt ceiling set by congress a century ago, the maximum amount the us government can borrow, the country is already on the $1 trillion debt page. the dollar has reached its limit. now let's eat the american treasury. the government of this country may not be able to fulfill its obligations in repaying its debts. it has repeatedly asked the congress to agree to increase the debt ceiling , an issue that has become a conflict between the republican and democratic parties and the mccarthy republic. whether the president of the us house has said that his talks with joe biden have been constructive on this matter, but they have not reached an agreement yet. they have another opinion. i have to say, now they have proposed that it is unacceptable, and the government has turned into a political game over raising the debt ceiling. the

we think of the us treasury market, us an answer for the a global financial system. and this anchor need still hope. lee, my colleague pete to scott, discuss the latest us crisis with all to contribute to chris ends. besides military, a to ukraine is now in the spotlights as republicans and democrats tried to reach a new debt ceiling bill to go the largest economy in the world. not able to service any of it stats. and you know, it's not just departments of the us as a order, the other countries that depends on the us, the kind of competed by them, all of those countries will end up down, you know, down the drain, if the us comp paid to pay to help them out, so to do whatever they do with them in addition to their own economy. do you think the democrats and republicans will be able to find a compromise and quite literally, can they afford not to? i don't and they can afford not to. i think the, the, the consequences a to dia, but i think the 1st areas, contention is ukraine. right? the biggest problem i think that we're staying with, with most of the, most of, of the

we think of the us treasury market, us an answer for the a global financial system. and this anchor needs to halt or the my colleagues page of score discuss the latest us clients. this with us, they contribute to chris evans, who saves military age to ukraine. is now in the spot life is republicans and democrats trying to reach a new debt ceiling bill to go the largest economy in the world. not able to service any of it stats and you know, it's not just department for the us as a order. the other countries that depends on the us, the kind of competed by them, all of those countries will end up down, you know, down the drain, if the us comp paid to pay to help, and also to do whatever they do with them in addition to their own economy, do you think that democrats and republicans will be able to find a compromise and quite literally, can they afford not to ident, and they can afford not to, i think the, the, the consequences a to dia. but i think the 1st, the areas contention is ukraine. right? the biggest problem i think that we're staying with, with most of the, most

department tojune extended by the us treasury department to june the extended by the us treasury departmentkeem jeffries, and the leader of the democratic majority in the senate, chuck schumer — that's according to the source. we'll have more on this across the evening. tracking those debt limit negotiations. stay with us here on bbc news. hello there. it really was a gorgeous day today across england and wales, lots of sunshine around. temperatures in west yorkshire reached 24.3 celsius, making it the warmest day of the year so far. in northern ireland and scotland, we saw more cloud for a while, producing one or two spots of rain. that was mainly due to a very weak weather front — that's heading out into the north sea. following on from that, we've got some cooler air coming around our area of high pressure from the north, so temperatures for many of us a little bit lower on sunday. we start chilly where we've got the clearer skies in eastern areas of scotland. temperatures here could be close to freezing in one or two places. more cloud coming into the north—west, that will be affecting

we think of the us treasury market, us an answer for the a global financial system. and this anchor needs to halt my colleague, be to school, discuss the latest us crisis with all to contribute to chris evans, who stays military 8th to ukraine, is now in the spotlights. as republicans and democrats tried to reach a new debt ceiling due as the largest economy in the world, not able to service any of it stats. and you know, it's not just a problem for the us as a order. the other countries that depends on the us, the kind of competed by them, all of those countries will end up down, you know, down the drain us comp paid to pay to help them out. so to do whatever they do with them in addition to their own economy, do you think that democrats and republicans will be able to find a compromise and quite literally, can they afford not to? i don't think they can afford not to. i think the, the, the consequences a to dia, but i think the 1st, the areas contention is ukraine. right? the biggest problem i think that we're staying with, with most of the, most of the, the republi

according to the announcement of the us treasury department, biden left his asia tour half-finished and returned to washington to reach an agreement with congress on increasing the debt ceiling before the end of the deadline. countdown to the risk of government bankruptcy. america less than 10 there is a day left until the end of the deadline announced by the secretary of the treasury of the united states, warning about not increasing the debt ceiling , delaying the debt repayment will set a world record , it will delay us, and it will lead to the error of weakening the leadership of the world economy, which the debt that the congress a century ago has determined the maximum amount that the us government can borrow, this country has reached its debt level of 31 dollars, now the us treasury, pointing out that the government of this country may not be able to fulfill its obligations in repaying its debts many times from the congress the request to agree to increase the debt ceiling is an issue that has become a dispute between the two republican and democratic parties. republican mccarthy

well, to the heap , the us treasury warned of the impossibility of servicing the public debt from junen this account. department head janet yelen. wrote a letter to congress, it warned that due to the achievement of the national debt ceiling , emergency measures will be exhausted in month, if congress does not expand the borrowing limit, it could lead to a default. now the ceiling is 31 trillion 400 billion dollars , and if it is raised, the us treasury cannot issue new government bonds to finance the activities of the government. the republican party, which controls the house of representatives of congress, is skeptical about the next expansion of the limit and advocates mandatory cuts in government spending. however, the white house administration demands to raise the ceiling, without any conditions, almost writing republicans against america. the president is ready to talk about the budget about the appropriation process. that's what we said, we're not slackers the president is ready to meet with the speaker of the house, but not to talk about whether the limit will be extended for

the us treasury secretary janet yellen is injapan and this was her response.in japan and this was her response.— janet yellen is in japan and this was her response. in my assessment and that of economists _ was her response. in my assessment and that of economists across - was her response. in my assessment and that of economists across the . and that of economists across the board, a default on us obligations would produce an economic and financial catastrophe. millions of americans could lose theirjobs, household incomes would be reduced, american businesses would see credit markets deteriorate and millions of american families that receive government payments would likely be left without the resources that they were promised. left without the resources that they were promised-— were promised. janet yellen in ja an. were promised. janet yellen in japan- let's — were promised. janet yellen in japan. let's speak _ were promised. janet yellen in japan. let's speak to _ were promised. janet yellen in japan. let's speak to michelle | japan. let's speak to michell

of the american government is less than 10 days until the end of the deadline announced by the us treasuryry. adjournment it will lead to the mistake of weakening the leadership of the american world economy. the debt ceiling set by the congress a century ago is the maximum amount that the american government can borrow. this country has already reached its 31 trillion dollar debt page. the country may not be able to fulfill its obligations in repaying its debts. it has repeatedly asked the congress to agree to increase the debt ceiling, an issue that has become a dispute between the republican and democratic parties. with joe biden on this has been constructive but has not reached an agreement yet, but they have a different opinion, we have submitted a proposal that will reduce the costs by more than 1 million dollars. the increase in the debt ceiling has turned into a bad political game . the republicans want to take power in the white house . they are trying to use the government's debt politically. show problem prominent american economists consider the cause of the us debt crisis to b

kurds, the us treasury department imposed new sanctions against syria, with short foreign news, the us treasury department put the syrian exchange company on the sanctions list for providing monetary services to the damascus government, and sam saba, the representative of syria in the united nations, at the meeting the security council announced that the provocative actions of the united states and its allies have increased with the aim of interfering in the internal affairs of syria. al-jazeera reported the occurrence of clashes between the army forces and the rapid response of sudan in the central and northern regions of khartoum, the capital of this country. at the same time, a diplomatic source of the sudanese army sudan has suspended participation in serious negotiations. on monday evening , washington and riyadh announced an agreement between the representatives of the sudanese army and the rapid response forces to extend the ceasefire for 5 days. tons of them it has been declared critical that all the passengers of this bus were from the state of jammu and kashmir without a plac

the us treasury urges congress to immediately raise the ceiling of the national debt, thereby protectingitworthiness of the states, experts note more than 30% of us gdp is government spending, the announcement of a default will lead to their sharp reduction. this will also affect us federal bond yields, likely to slow the economy and drop energy prices, while american debt reached a new record in the first quarter, household debt increased by almost $150 billion, exceeding $17 trillion, according to a report from the federal reserve bank. new york city 's $12 trillion mortgage arrears on auto loans over $1.50 on credit cards. about a trillion, this could be another blow to the us economy, along with fears of a recession and other macroeconomic problems. this was the news of the economy. i wish you success in business and good mood. see you. the morning broadcast on tv channels belarus 1 and belarus 24 continues the program for x i am alexander smirnov hello, an amateur gardener was detained in svetlogorsk on suspicion of drug trafficking. as the police said. a 28-year-old resident of the

against the backdrop of the situation with public debt may not reach until june 15, the head of the us treasuryn air nbc news said that by that day taxes would appear in the treasury, which would help avoid default, but at the same time admitted that the economy. the quote may simply not live up to this date. my assessment is that the chances of making it to june 15th being able to pay all of our bills are pretty low according to jonath, yelin, beginning of next month the deadline for raising the ceiling of the government of the united states who shares power in the usa and why the road above the echelons is closed to ordinary americans family clans western democracy from president to governor, congressional government corporations nepotism, american elites, relatives, wives, children and grandchildren scheduled positions in understandable politics. watch today after the panorama. in italy, the annual fireworks festival turned into a nightmare, the pyrotechnic show san siberia, and literally turned the square where the celebration took place into a battlefield. hall by fireworks began to explod

payments that are due financial and economic k. us would consume a guy warning directly from the us treasury secretary as a record of breaking national debts is most of us entire economy service the from july, from us studio, here with the russian capital, your watching oxy international and pizza stopped it with all the lights as this monday afternoon, we saw it's all in key west several drove the stripes were reported. overnights, awful explosions were reports of the scene on hood in the ukrainian capital. they so supplied you crating that defense systems are reports of the same shooting down a russian drone of, of, populated areas of the capital with debris reports of the hits in residential buildings. russian defense ministers, not commented on those strikes. but moscow has repeatedly stated that it's only targets kids military and critical infrastructure. the central kits also reports it, so it hits the coastal city of a desa with a warehouse that you can currently see now on your screens. be destroyed. staying with ukraine, the co founder of versus a wagner, that private military compa

we think of the us treasury market, us an answer for the a global financial system. and this anchor needs to halt. we don't know how the government is going to go about that process, because as i wanna remind you, it's never happened before the united states has never defaulted. early am i called a p to scott, discuss the latest us crisis with policy contribute. so chris ends is military, a to ukraine is now in the sport liked as republicans and democrats tried to reach a new debt ceiling due to go the largest economy in the world. not able to service any of it stats. and you know, it's not just a problem for the us as a order. the other countries that depends on the us, the kind of competed by them, all of those countries will end up down, you know, down the drain, if the us comp paid to pay to help them out. so to do whatever they do with them. in addition to their own economy, do you think the democrats and republicans will be able to find a compromise and quite literally, can they afford not to? i don't, and they can afford not to. i think the, the, the consequen

we think of the us treasury market, us an answer for the a global financial system. and this anchor needs to hope. we don't know how the government's going to go about that process, because as i wanna remind you, it's never happened before the united states has never defaulted. early am i call a pizza? scott, discuss the latest us crisis with us. he contributes so chris ends, you say it's military a to ukraine is now in the spotlight as republicans and democrats tried to reach a new debt ceiling to go the largest economy in the world. not able to service any of it stats. and you know, it's not just a problem for the us as a order. the other countries that depends on the us, the kind of populated by them. what are those countries we will end up down, you know, down the drain, if the us comp paid to pay to help them out. so to do whatever they do with them in addition to their own economy. do you think that democrats and republicans will be able to find a compromise and quite literally, can they afford not to? i don't think they can afford not to. i think the, the, the

we think of the us treasury market, us an answer for the a global financial system. and this anchor needs to halt a small on this. i'm going to live in this. do you do by ok? you contribute to an economics expert, chris and chris, great to see if the time is obviously taken for washington. just to how serious is this situation? i think this has been dragging on for a very long time now, and we've been covering this a lot on the channel. i think it's very, very serious now, because you're getting it to it except a to a situation now whether it's just not, no more money in the bank. and what happens in that case. well, in that case, we've got the largest economy in the world, not able to service any of it. that is that, and you know, it's not just a problem for the us as a order. the other countries that depends on the us, the kind of competed by them. what are those countries we will end up down, you know, down the drain, the us comp paid to pay to help them out. so to do whatever they do with them. in addition to their own economy. so, so given that, given the seriou

now as a result, the us treasury department says that russian oil revenues have fallen 40 percent year on year. we're revenues used to make up for about a 3rd of the entire russian budget. they now make up about a quarter of the but i want to bring, you know, uninstalled via fedex. she's in assisted professor of finance at the hospice school of business at the university of california berkeley. she's also a founding member of the n g o economists for ukraine. it's good to see you again. good to have you back on the program. i know we've talked before about these price caps and there was a lot of skepticism about this and tested oil price cap scheme last year. i mean, has it worked as well as the byte administration claims that have yes, i would definitely say it's bringing results and let's look at the data. right. the price cap on oil was instituted in december, the price gap, i will products follow it in february. and if we take a look at rushes, revenues from energy. those have fallen by 47 percent from the last quarter of 2022 to the 1st quarter of 2023. so on that front, the price