therefore, the rest of europe, because germany is the biggest trade partner china in europe. and they, since a february, 4th, signature of the she agreement, many have seen that as a non aggression pact. and so we've seen putting move troops from russia's far east after meeting with jim ping in beijing before the olympics, and he's able to move troops towards ukraine. he couldn't do that unless he had agreement from china. and in addition, you know, they both were the same kind of color suit, shirt and tie. they're coordinating far more in space and other areas. and in that agreement, it's a $5000.00 word agreement. china said that they supported russia, moves in regard to nato, that they would also build a pipeline. and also, you know, there is a question mark over china. how will they act? will they really help russia? so the biggest loser in this is probably russia because they will be far more a junior partner to china than they ever dreamed of. maria deva, if putin was trying to weaken and divide nato, he's done the complete opposite. now has an easy as any, strengthened

, it's a war against europe. this is going to test the resolve of europe, isn't it? but it looks like, so far, europe's not stepping up. i wouldn't agree. you know, i think europe has been amazingly fast in adopting and voting for sanctions, very comprehensive sanctions. before this war, people in europe were saying that, you know, putin is pretty resistant to sanctions. he has calculated that sanctions will come and he can sustain the sanctions. i think it's hurting much more. there has been extraordinary coordination. norway is not a member of the european union, but we are closely associated through the european economic area and we have joined the european sanctions alongside the european union, coordinated with the united kingdom, coordinated with the united states, contributions from japan, australia and others, so this is a pretty tough response. it's not militarily engaging in ukraine. i think it's important to keep nato out of a war in ukraine. we don't want that kind of confrontation, but we are respond

and again, what brings europe into this for africa? it brings a partner that has a lot of expertise, has good experience in terms of technology transfer. again, what africans need a lot is to be able to create a, an environment which makes businesses thrive. that is able to develop technologies and not be dependent on knowledge is built and develop elsewhere. so that means strengthening partnerships between universities and the industries and so on and so forth. and this is something that europe have a lot of experience. and at the same time, and i think this is quite crucial. europe can be a market for african technology, as i said earlier, african banking systems, so way more developed in europe, backend systems when it comes to digital economy. so opening up digital partnerships may very well give african bennett the opportunities in the european markets, african apps, african tools that are still quite common. i mean, previously you were referring to the east africa, the case of them pace, a digital money already developed 20 years

to defend europe, we will need different forces — europe, we will need different forces and different capabilities. significant additional defence investments in europe will be needed, _ investments in europe will be needed, and i welcome that some leaders _ needed, and i welcome that some leaders have announced ambitious steps _ leaders have announced ambitious steps to— leaders have announced ambitious steps to increase defence spending, more _ steps to increase defence spending, more will— steps to increase defence spending, more will follow. but we need to avoid _ more will follow. but we need to avoid fragmentation. thus we need a coordinated — avoid fragmentation. thus we need a coordinated approach, because this only will— coordinated approach, because this only will ensure that we maintain a military, _ only will ensure that we maintain a military, technological edge in our european — military, technological edge in our european industrial base and that interoperability is given between our european armed forces. this will be the _ our european armed forces. this wil

what we are trying to work out is the risk of energy supplies from russia into europe and europe and the demand from russia. do you think we might see a fatalistic moment of when russia may risk gas supplies into europe? >> the risk -- if you look at the issues in the world, battles of natural resources unfortunately can lead to extreme behaviors. i hope for all our sakes both sides take a deep breath, consider the issues, and work out how to deal with the transition. the one thing i will say is the transition to renewables and green energy is going to stall for a short period of time and rush. there is a negative consequence in the short term, but long-term , everyone is going to push to get renewable strategies in place. manus: which renewables are going to race and when? >> we are going to get smarter in terms of how we apply technologies. batteries will win in the small leaders, hydrogen will win in the large leaders. you will have different implications. we have to think very differently about the way we are applying these. manus: is this stagflation? is that where we are right

independence -- europe's dependence on russian energy. happening earlier today, this is just short of 15 minutes. -- to coerce and manipulate its neighbors, using profits to drive his war machine. that's why earlier this month i announced the u.s. would man all imports of russian energy to make it clear the american people would not be part of subsidizing his brutal, unjustified war. at the time, i noted that we were able to take this step when others could not because the u.s. is a net exporter of energy with a strong domestic energy, and the u.s. welcomed the european union's powerful statement this month committing to rapidly reducing its dependence on russian gas. today, we have agreed on a joint game plan toward that goal while accelerating our progress toward a secure future. this initiative on helping europe reduce its dependency on russian gas as quickly as possible and producing. we will work to provide an additional 15 billion cubic meters of natural gas for europe this year. and as the eu works to discontinue buying russian gas

the 900 kilometre pipeline _ consumption in europe. the 900 kilometre pipeline will— consumption in europe. the 900 kilometre pipeline will bring i kilometre pipeline will bring gas pump from offshore in norway, through danish territory, to poland. plans for the huge project had been long in the making and today is a critical part of poland's strategy to bolster its energy security. strategy to bolster its energy securi . ., . , strategy to bolster its energy securi . ., ., , ., security. towards the end of this year. — security. towards the end of this year, october, - security. towards the end of i this year, october, november, it is going to be ready. then we will have 10 billion cubic metres of norwegian gas and, today we know, very, very well, that we will have to be independent of russian oil and gas. independent of russian oil and ms, , independent of russian oil and as. , .,., independent of russian oil and gas. historically poland has been tied — gas. historically poland has been tied to _ gas. historically poland has be

i think europe is not the us, - europe of nations? very quickly. i think europe is not the us, it - europe of nations? very quickly. i think europe is not the us, it is i think europe is not the us, it is not canada. so actually, european nations have to defend the values they believe in. and ukraine is a part of european civilisation because putin is against ukraine as a civilisation, and we have to be ready for a post putin war old. the soviet union collapsed, the same will happen with putin. so the west to develop a strategy post putin and the solemnisation of russian society, the pollutant is asian of russian society. could the war but ukraine back in the eu? very quickly. i could the war but ukraine back in the eu? very quickly.— could the war but ukraine back in the eu? very quickly. i do, and i'd like to say — the eu? very quickly. i do, and i'd like to say nationalism _ the eu? very quickly. i do, and i'd like to say nationalism is - like to say nationalism is detrimental. we must keep in mind that when— detrimental. we must keep in m

w business special, where we're asking can europe quit russian gas? and if you're watching on our youtube feed, you can leave your comments and questions. we'll try to answer some of them later on in the program. but 1st, energy industry leaders are gathering in texas with the sector in crisis. russia invasion of ukraine has delivered a shock to oil and gas markets and energy firms are under pressure to take a stand against moscow. governments are also planning to turn up the heat. international sanctions against russia have so far excluded the country's energy sector. but that's about to change. the u. s. and europe are exploring a ban on imports of russian oil and gas. attendees of sarah week and annual energy conference in houston are discussing how to replace russian supply. so now i see that the u. s. is, is looking to venezuela is considering getting increased production from venezuela? well those barrels could have come from canada. melbourne canada says it has spear pipeline and rail capacity and can move more oil to the united states. washing

if you're a monte, what's in this for europe? well, i think this, this relationship could be literally a reward nowadays to data economy. the flow of data is dominated by 2 polls north america, and east asia. and i think both europe and africa need to become as autonomy as, as possible in the generation of data and the use of data and the digital economy can be mutually rewarding. but i agree with my colleagues, we need to see what are this time europe is serious about taking africa as a business part or a business partner rather than as a development age target. this is, this is real economy. it's the teachers are becoming progress and i think, you know, it's, it's, it was long overdue. well, let's talk more about that points on the difference between you know, investment and development age. well, what's your, what's your view on that, david? money, what's, what's been the problem with europe's relationship in the past that could be improved upon this time? i think the problem was, we'll start with the language. if you look at

they're mainly against europe. the sanction? yes, yes, exactly. america wants to hold here in the us orbit. the sanctions are designed to iron curtain to lock here in the u. s. is not to exclude russia. america just wants to control europe and it wants to control the world oil trade, because that's the key to it's a international power, of course, in europe, and in germany, to pay huge amount of a for a gas. huge amounts to buy american liquefied natural gas. not russian gas, this is going to, in germany is a major international manufacturing. our germany's cost structure is going to go up . so hi, this going to political break away. so ultimately, the question is, will america sanctions dr. europe, out of the american orbit, just like us driving out russia out of the well, let me, let me get it daniel on that. i mean that, that's probably the biggest surprise or disappointment for me is because of all countries in europe. germany could have sit up and said, hey, hey, everybody needs to slow down right now because it's the, it's

therefore, the rest of europe, because germany is the biggest trade partner china in europe. and they, since a february, 4th, signature of the she agreement, many have seen that as a non aggression pact. and so we've seen putting move troops from russia's far east after meeting with jim ping in beijing before the olympics, and he's able to move troops towards ukraine. he couldn't do that unless he had agreement from china. and in addition, you know, they both were the same kind of color suit, shirt and tie. they're coordinating far more in space and other areas. and in that agreement, it's a $5000.00 word agreement. china said that they supported russia, moves in regard to nato, that they would also build a pipeline. and also, you know, there is a question mark over china. how will they act? will they really help russia? so the biggest loser in this is probably russia because they will be far more a junior partner to china than they ever dreamed of. maria deva, if putin was trying to weaken and divide nato, he's done the complete opposite. now has an easy as me strengthened a

for europe to follow. suit are in fact growing louder. now here in germany, one of the 1st actions that were taken by the government was to suspend operation of the nord stream to pipeline bringing russia gas straight to germany. but that wasn't in operation yet. so did that really make any difference? it was an important political step because it gave the signal that there is a real turn in german policy towards russia, but with no effect on our, in our, on the deliveries of gas and oil. what we see though, um that the, my kids react also to president biden's announcement, sol, gas prices are skyrocketing. we pay more than to euro per liter of gasoline already. and there certainly is the political fear of social unrest. um, if prices were would soar if we would suspend north t one. and this is a discussion we're facing now by the way, putting himself as talked about our cars, shutting down a shipment through north stream, one north stream to one of course, being the other a pipeline that brings gas to europe. what likelihood do you think

russia is europe's main supplier of energy. the european union received over 40% of its gas imports from russia. russia also has significant ownership in europe's energy infrastructure, including pipelines, distribution centers, and storage facilities. with natural gas prices increasing and oil surpassing $100 a barrel, more of our allies' money will be lining the pockets of vladimir putin. due to high energy costs, russian oil and gas revenues exceed initial plans by 5% this past year totaling $119 billion. in 2021 rev revenues from russin oil and gas were almost $500 million each and every day. a windfall for vladimir putin. as a result the amount of russian energy going to europe is a major problem. we must help our allies escape russia's energy trap. american energy resources can allow europeans to meet their energy needs and deprive russia of the revenue it uses to fund its military aggression. due to technological advances and abundance of natural gas, the united states can be a strategic energy supplier to europe. our na

and again, what brings europe into this? for africa? it brings apart, heard that has a lot of expertise, has a good experience in terms of technology transfer. again, what africans need a lot is to be able to create a, an environment which makes businesses thrive. that is able to develop its own technologies and not be dependent on technology is built and developed elsewhere. so that means strengthening partnerships between universities and the industries and so on, so forth. and this is something that europeans have a lot of experience and at the same time, and i think this is quite crucial. your can be a market or african technology. as i said earlier, my african banking systems are way more developed than the european backend systems when it comes to digital economy. so opening up digital partnerships may very well give african benefee opportunities to expand into european markets. african apps, african tools that are still quite common. i mean, you know, previously who were referring to east africa, the case of em pace a digital mod

for europe to follow. suit are in fact growing louder. now here in germany, one of the 1st actions that were taken by the government was to suspend operation of the nord stream to pipeline bringing russian gas straight to germany. but that wasn't in operation yet. so did that really make any difference? it was an important political step because it gave the signal that there is a real turn in german policy towards russia, but with no effect on our, in our, on the deliveries of gas and oil. what we see though, um that the, my kids react also to president biden's announcement. so a gas prices are skyrocketing, we pay more than to euro per liter of gasoline already. and there certainly is the political fear of social unrest. um, if prices were would soar if we would suspend north stream one. and this is a discussion we're facing now by the way, putting himself as talked about our cars, shutting down a shipment through nord stream, one north stream to one of course, being the other pipeline that brings gas to europe. what likelihood you think

now americans have got europe under control. you think they're listening to what level is saying, which is why they're not listening to you? i doubt it because i don't think the americans really care about haven't europe under control. frankly. i think what we're telling germany and others in europe now is exactly what ronald reagan told margaret thatcher and other european leaders in the 1980s do not become totally dependent on russian oil and gas. and for all we can tell the new german chancellor has just agreed with that. so, but it takes time to shifted to build offloading facilities for liquefied natural gas to construct new pipelines. and, you know, it should be common sense to the europeans that you want multiple potential suppliers for your energy resources. and i think they've now learned that less you just said americans don't care whether they control europe. obviously, the u. s. by clearly cared about influencing europe for decades and all this, he will have a measure of control of liquefied natural gas comes from th

now americans have got europe under control. you think they're listening to what level is saying, which is why they're not listening to you? i doubt it because i don't think the americans really care about having europe under control. frankly. i think what we're telling germany and others in europe now is exactly what ronald reagan told margaret thatcher and other european leaders in the 1980s do not become totally dependent on russian oil and gas. and for all we can tell the new german chancellor has just agreed with that. so, but it takes time to shifted to build offloading facilities for liquefied natural gas to construct new pipelines. you know, it should be common sense to the europeans that you want multiple potential suppliers for your energy resources. and i think they've now learned that less. you said americans don't care whether they control europe. obviously, the u. s. by clearly cared about influencing europe for decades. and all this, he will have a measure of control of liquefied natural gas comes from the united

it's important. europe has a sense of urgency. it's moving fast, but the test will be due within a year. all right, cornelia, i my see nodding in agreement in terms of oil. what about countries like venezuela with its vast reserves? the u. s. has opened up diplomatic channels again with crackers recently or even iran negotiations. they're appearing to head towards a complete pollution over the that the nuclear deal. if sanctions against the wrong will, if to, to could those 2 countries, for instance, at least helped to plug the gap. a can't pluck the gap because what we're few take out. russia exports 8000000 barrels a day. that's 8 percent of global daily consumption. and so they can't. and you have seen that opec plus, you know, the opec countries and their 10 allies. which by the way, a lead by russia really can't, can't pump it fast enough and the spare capacity is really spare. it's really sparse. it's, it's, it's not bare except for saudi m. u a and the little bit of it. ok, so that's difficult. now let us look at add them t

therefore, the rest of europe, because germany is the biggest trade partner china in europe. and they, since a february, 4th, signature of the she agreement, many have seen that as a non aggression pact. and so we've seen putting move troops from russia's far east after meeting with she jumping in beijing before the olympics, and he's able to move troops towards ukraine. he couldn't do that unless he had agreement from china. and in addition, you know, they both were the same kind of killer soup shirt and tie, they're coordinating far more in space and other areas. and in that agreement, it's a $5000.00 word agreement. china said that they supported russia, moves in regard to nato, that they would also build a pipeline. and also, you know, there is a question mark over china. how will they act? will they really help russia? so the biggest loser in this is probably russia because they will be far more a junior partner to china than they ever dreamed of. maria deva, if putin was trying to weaken and divide nato, he's done the complete opposite. now has an easy, as ne, strengthe

as i made clear, american forces are in europe, not in europe, to engage in conflict with russian forces. american forces are here to defend nato allies. i met with troops serving alongside our polish allies to bolster the front line defenses. the reason we want to make clear is their movement on ukraine. don't even think about moving on one single inch of nato territory. we have a sacred obligation. we have a sacred obligation under article 5 to defend each and every inch of nato territory with the full force of our collective power. and easier today, i visited international stadium with thousands of ukrainian refugees, now trying to answer the toughest questions a human can ask. my god, what's going to happen to me. what's going to happen to my family. i saw tears in many of the mothers' eyes as i embraced them. their young children, not sure where to smile or cry. one little girl said mr. president, she spoke a little english, my brother and my daddy, are they going to be okay. will i see them again. husbands and fathers, many cases, brothers and sisters stayed back to fight for their

what is the impact on europe stability and security in europe that i think nato has to take a broader view of this. joe biden has repeatedly felt the need to state publicly that the u. s. won't directly intervene against russian forces in ukraine. he did so again, last friday is by pushing back against domestic pressure for him to do more. and if so, would you suspect that pressure is coming partly from inside the pentagon? actually, the pentagon is usually the most conservative institution in washington, and so i don't think he's getting too much pressure from the pentagon to do more. obviously, the joint staff and the department defense are doing what they should do. prudent planning anticipation requirements and given the president options, but i don't think he's getting pressure from the pentagon. the congress seems to be in a bipartisan way in favor of doing a lot more. and i think that the president has overstated this business about no, we're not going to do this because it's as if it's automatically going to be world war 3. i don't know that i agree with that. he biden has del

russia is ready to deliver more gas to europe. it's very interesting signal, it's not being talked much about it, but i'm reading this on the russian news that their gazprom sending more gas to europe this pipeline. let me just add, if i might two very quick points. the first one is german politics and german society, which has been, which has shown real solidarity with the ukrainian people and the fate of the ukrainian people so far and former federal president joachim gauck yesterday said um it might be worth freezing a little for freedom. um, so this is a discussion um, we will face in our country and then there's, in my eyes, the very important political sign from the european union including germany to finally finally get independent of russian, um or at least oil and gas deliveries? um, and thereby also showing that the old mantra of, you know, change through trade bandel do we handle in in german that this was fiction. in respect to putin, i want to take us back to the global situation because that of course was part of the

not, not just within europe. i think it affects the demand for alms in several ways in the 1st place. europe and us will look at. ready the same time as also aware of what's happening elsewhere in the world and will continue to contribute to that demand for europe or elsewhere. we can also question, for example, how will china react to this? will china consider this an opportunity to step up to pressure? how will states in asia react to back again and move a role? so seed is as yet an additional reason to all so both of their military k k. so these things hang closely together at the same time. and then also major questions about the role that russia can play as maybe the attorney supplier from now on. as states may feel that they don't want to cite russia. they may feel pressured by, especially the us to take it from russia, including from russia has an opposite plot flyer. and finally. ready also, how states will deal with difficulties of paying russia right now, including 4 opposite. they may buy. alright. and

therefore, the rest of europe, because germany is the biggest trade partner china in europe. and they, since a february, 4th, signature of the she agreement, many have seen that as a non aggression pact. and so we've seen putting move troops from russia's far east after meeting with she jumping in beijing before the olympics, and he's able to move troops towards ukraine. he couldn't do that unless he had agreement from china. and in addition, you know, they both were the same kind of killer soup shirt and tie, they're coordinating far more in space and other areas. and in that agreement, it's a $5000.00 word agreement. china said that they supported russia, moves in regard to nato, that they would also build a pipeline. and also, you know, there is a question mark over china. how will they act? will they really help russia? so the biggest loser in this is probably russia because they will be far more a junior partner to china than they ever dreamed of. maria deva, if putin was trying to weaken and divide nato, he's done the complete opposite. now has an easy as me strengthene

europe, they think it will - perspective in central and eastern europe, they think it will be - europe, they think it will be damaging _ europe, they think it will be damaging trut— europe, they think it will be damaging but it _ europe, they think it will be damaging but it has - europe, they think it will be damaging but it has to- europe, they think it will be damaging but it has to be . europe, they think it will be i damaging but it has to be done europe, they think it will be - damaging but it has to be done or as other— damaging but it has to be done or as other countries like _ damaging but it has to be done or as other countries like germany- damaging but it has to be done or as other countries like germany are - other countries like germany are much more — other countries like germany are much more cautious. _ other countries like germany are much more cautious.— other countries like germany are much more cautious. that's a big issue in of— much more cautious. that's a big issue in of course _ much more cautious. that's a big issue in of course more _ much more caut

what is the impact on europe stability and security in europe that i think nato has to take a broader view of this. joe biden has repeatedly felt the need to state publicly that the u. s. won't directly intervene against russian forces in ukraine. he did so again, last friday is by pushing back against domestic pressure for him to do more. and if so, would you suspect that pressure is coming partly from inside the pentagon? actually, the pentagon is usually the most conservative institution in washington, so i don't think he's getting too much pressure from the pentagon to do more. obviously, the joint staff and the department defense are doing what they should do. prudent planning anticipation of requirements and given the president options, but i don't think he's getting pressure from the pentagon. the congress seems to be in a bipartisan way in favor of doing a lot more. and i think that the president has overstated this business about no, we're not going to do this because it's as if it's automatically going to be world war 3. i don't know that i agree with that. he biden has deli

w business special, where we're asking can europe quit russian gas? or if you watching on our youtube feed, you can leave your comments and questions. we'll try to answer some of them later on in the program. but 1st energy industry leaders are gathering in texas with their sector in crisis. russia's invasion of ukraine has delivered a shock to oil and gas markets and energy firms are under pressure to take a stand against moscow. governments are also planning to turn up the heat. international sanctions against russia have so far excluded the country's energy sector. but that's about to change. the u. s. and europe are exploring a ban on imports of russian oil and gas. attendees of sarah week and annual energy conference in houston are discussing how to replace russian supply. so now i see that the u. s. is, is looking to venezuela is considering getting increased production from venezuela . well those barrels could have come from canada. could have come from alberta. canada says it has spear pipeline and rail capacity and can move more oil to the un

europe must wake up. the power plant is burning right now, russian tanks are shooting at the nuclear blocks these are tanks with ca cameras. >> we have breaking lines in volodymyr zelenskyy in the last few minutes. he is appealing to russians to protest. he says only no-fly zone will guarantee russia won't bomb nuclear infrastructure he says russia is targeting ukrainian struinfrastructure ars and residential areas. he continues to talk we will bring you the latest from volodymyr zelenskyy releasing what they see is the official release of russian servicemen killed so far now the eu foreign ministers are arriving in brussels along with non-eu members as nato is set to hold an extraordinary meeting. >> this alliance came together with speed, with unity and determination. immediately launching the rapid response task force. putting in place the graduated plans to bolster nato's security every ally in one way or another, is coming to ukraine's assistance every ally, in one way or another, is helping to stren

if there was, for example, complete, stops to rush in close to europe. the short answer is yes, but this would obviously entail significant incisions in today tonight where we'd be talking about measures that include industrial demand destructions, for example, nor to make sure that we can put adequate gas into storage for next winter. so we took him out, having to handle rising gas prices, rising energy prices for, for your opinions. is that what we're talking about here? yes, precisely. i think in the short term again, if we're talking about a complete sub to russian flaws, you would obviously see gas prices skyrocketing even more than they have been now. so even today in the morning, gas prices grew by around 40 to 50 percent. purely on worries of adequate supply, so you'll see price of skyrocketing and this is where the market is trying to reduce gas demand from other sectors of the economy, such as, for example, from industry in order to make sure that there is sufficient gas in the system. so that we can put that into storage. so if we are going to

details. >> a lifeline for europe u.s. -- as the u.s. announces it will boost natural gas export studio. >> we are coming to reduce your dependence on russian energy. this focuses on two core issues, helping europe reduce its dependency on russian gas as quickly as possible and secondly reducing europe's demand for gas overall. >> the u.s. says it will provide rope with an additional 15 billion cubic meters of lng this year. with the alternate goal of ramping up to 50 billion cubic meters in annual exports to the block until 2030. it is part of a push to wean the eu off of russian energy. moscow supplies 40% of the natural gas needs for heating and electricity there. and also supplies more than a quarter of itsil imports. >> this is replacing one third already of the russian gas going to europe today. so we are right on track now to diversify away from russian gas and toward our friends and partners, reliable and trustworthy suppliers. >> the block has vowed to cut russian energy used by two thirds -- used by two thirds this year. europe

that is what europe is facing. kevin book, i appreciate your clear view, kevin. thank you for joining us this morning. >> thanks, brian. >>> when we come back, we have a lot more on the nato summit in brussels we will give you the latest when they cross >>> and thomas tull is joining us he will talk about the economy and inflation and markets and some investments that he likes right now. oil is higher. stock futures are higher as well we're glad you are up with us on this thursday morning. we're back after this. s! umpire: ball! good eye! good eye! eyes are good for lots of things. like reading! be the best, caleb! statistically impossible, caleb. umpire: strike three, you're out! you'll get 'em next time! or you won't, probably won't. and it won't impact your future whatsoever! talk to us about college planning today. feel comfortable about tomorrow. massmutual. >>> welcome back in addition to the big nato meeting in belgium, there are other things happening outside of the nato summit let's get the latest from silvana henao. >> reporter: north korea tested a ban

and, secondly, reducing europe's demand for gas overall. to address the first point, the united states, together with our international partners, they're going to we're going to work to ensure an additional 15 one-five 15 billion cubic meters of liquified natural gas lng for europe this year. and as the eu works to discontinue buying russian gas well before 2030, it will also work to ensure additional eu market demand for 50 billion cubic meters of lng from the united states annually by 2030. to accomplish this, the european commission is going to work with the member states to store gas across the continent, to build more infrastructure to receive lng, and to take steps to increase the efficiency of gas. this build-out this build-out will occur in a way that consists is consistent with, not in conflict with, the zero net-zero climate goal we that we're shooting for. it's going to take some time to adjust gas supply chains and infrastructure as is built the last decade for the last decade. so we're going to have to make sure the families in

well, first, this is a war in europe, and the last two world wars started in europe, so i think we have cause for concern. second, indeed, on the paper, there are more nato soldiers than russian soldiers, but russia also has some weapons that can cause devastating effects and, clearly, president putin is not shy from talking about those weapons, so i think it falls on us to send a very clear, strong signal that there is no talk of nuclear weapons and nuclear war because nato is also a nuclear alliance and that the use of nuclear weapons will have a devastating consequence for all parties. and the fact that nato has not pushed back explicitly in this manner is, i think, setting a dangerous precedent. deputy foreign minister, is the russian federation up to fighting nato, or could it resort to extremely dangerous methods — nuclear weapons? that's precisely the symmetry. that, of course, nato, as an alliance, is stronger than russia. russia is nothing but, to quote, "the upper volta "with nuclear weapons." to look at its economy, to look at the structure of its governance and so on and s

all deliver is to europe. but that could be that the war will be stopped much you learn in the next 2 weeks or months. so the whole, the whole topic of the cutting russians, oil and gas deliveries in the, to europe, in the end of this year. my be not anymore. or any mark still, let me ask you this, let me ask you this because, you know, of course, a germany, europe very well. what's your reading of public opinion here? do you think people here would withstand the hardship that a gas cut off of from european side potentially would cause meaning cold houses and possibly having to go without other things? comforts. i'm so busy today just to digest towards the people in the ukraine, just doing work hardship, the people in the ukraine experiencing right now. there's no cold torso houses in the ukraine. the houses are being destroyed. there is no discomfort or like $2.00 per barrel gas on bins in on diesel. it's just blown thanks. stations are being fun and fire. the whole country in the ukraine is on fire. so i'm j

that europe needs to be able to stand for itself more strongly. it needs to strengthen itself in various different ways and stressing that now even more strongly than before, i think i'm talking about, you know, that we cannot depend on others in europe, in a whole range. of areas in economic lee, but also in terms of defense and out there is really almost starting to kind of chime in with some of the language that we've been hearing now just around what's been happening in russia, ukraine. but through the pandemic, this idea is that this kind of period of hyper globalization of supply chains, things like that, that we're moving into a new era where those supply chains look a lot less dependable. whether it's because of the pandemic or the, or the, or this kind of a full disruption in terms of violence and looking for new ways to organize the economy. i mean, he really had very strong language on that, that we have to develop a new economic model of self sustainment. he's also picking up what we've heard, or what we've seen here in berlin the last

now americans have got europe under control. you think they're listening to what level is saying, which is why they're not listening to you? i doubt it because i don't think the americans really care about having europe under control. frankly. i think what we're telling germany and others in europe now is exactly what ronald reagan told margaret thatcher and other european leaders in the 1980s do not become totally dependent on russian oil and gas. and for all we can tell the new german chancellor has just agreed with that. so, but it takes time to shift it to build offloading facilities for liquefied natural gas to construct new pipelines. you know, it should be common sense to the europeans that you want multiple potential suppliers for your energy resources. and i think they've now learned that less you just said americans don't care whether they control europe. obviously, the u. s. by clearly cared about influencing europe for decades and all this, he will have a measure of control of liquefied natural gas comes from the uni

this is about getting supplies -- natural gas supplies to europe to wean europe off of that supply to russia. again, this is the -- this is how russia funds its military, by selling gas to europe. >> yeah. russia is essentially a petro state and much of its profits come from europe. this has been an intensive back and forth in the u.s. and the e.u. in the leadup to the talks this week even before the talks had been scheduled. it was a contention point as the u.s. nudged europe to reduce the russian depend sentences dense si. europe relied on the united states to do that. u.s. officials were in touch with others whether it was in japan to locate areas where l&g could be provided to europe where they could be provided to europe. this is a culmination of that effort. we were told in the last few days that white house officials had a very intense back and forth. these are very hard conversations. european leaders are recognizing that their populations do not want to pay more for energy, particularly in the winter. politically it's a very tough choice to say that you are going to have to p

europe. this is "bloomberg markets: european close," with guy johnson and alix steel. ♪ guy: 30 minutes to go until the end of trading in europe for equities. let's talk about the price action because it is alarming. the stoxx 600 is down by 3.2%. take a look at some of the more peripheral markets. this is being delivered on big volume. euro-dollar weakening, concerned about what is happening. the growth risk is growing. the inflation risk is elevated. euro-dollar now down by 1.3%. then you come to the energy complex. oil is up sharply, but not gas up today by 19%. let's give you a little bit of context. i just want to switch this board up a little bit. we are going to change into the week and show you what these moves look like on the week, just to give you an idea of what is going on. the stoxx 600 is down on the week by 6.7 percent. some markets significantly more than that, talking double-digit losses in percentage terms. the euro has lost 3% this week. that is a big move. the rate of c

well, first, this is a war in europe, and the last two world wars started in europe, so i think we have cause for concern. second, indeed, on the paper, there are more nato soldiers than russian soldiers, but russia also has some weapons that can cause devastating effects and, clearly, president putin is not shy from talking about those weapons. so i think it falls on us to send a very clear, strong signal that there is no talk of nuclear weapons and nuclear war because nato is also a nuclear alliance and that the use of nuclear weapons will have a devastating consequence for all parties. and the fact that nato has not pushed back explicitly in this manner is, i think, setting a dangerous precedent. deputy foreign minister, is the russian federation up to fighting nato, or could it resort to extremely dangerous methods — nuclear weapons? that's precisely the symmetry. that, of course, nato, as an alliance, is stronger than russia. russia is nothing but, to quote, "the upper volta with nuclear weapons. " to look at its economy, to look at the structure of its governance and so on and s

in europe -- dr. for yields in europe -- important factor for yields in europe. the rate hike is still a possibility, but it really depends on the growth outlook and europe for the time being. kailey: on the subject of the war in ukraine, how much could that act as somewhat of a cap on yield in terms of the haven bid going into bonds? sandrine: that is actually exactly what we observed last week, when you had to speak uncertainty regarding the crisis in ukraine. bond yields fell across the board, not only in europe, but also in the u.s., so short-term, the safe haven bonds remain. you also have to put that in the context of much higher inflation than in the past. for central banks, they have to take financial conditions altogether. they are still easy, but any tightening would have to be on at your -- would have to be monitored in the context of a probably negative growth impact from the war in ukraine on europe and from higher energy prices. guy: how wide do bunds versus btp's get? italy is one of the most exposed countries when it comes to russian energy, and w

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do you do that throughout the whole of europe? is it biased towards a particular part of europe? alberto: we are doing it across. however, there are countries in the world that are more born rubble to high commodity prices and high energy, so southern europe is more vulnerable, but outside of the western european countries, you've got turkey, you've got egypt, there's a lot of countries that are more vulnerable. in emerging markets, you could say there's still a lot of countries that are going to be affected by high energy prices and higher interest rates in the u.s. and a stronger dollar. so we are very cautious there, and we are using limited dry powder at this stage. expect a little bit more volatility later in the year. jonathan: you were saying the -- lisa: you were saying the fed is going to hike rates still as much as people thought. is it the same story for the ecb? alberto: the ecb is likely to step back to only one hike this year. clearly have a closer issue, but also inflation in europe is a lot more driven by energy, so half of the 5% inflation in europe comes from en

what is the impact on europe stability and security in europe? i think nato has to take a broader view of this. joe biden has repeatedly felt the need to state publicly that the u. s. won't directly intervene against russian forces in ukraine. he did so again, last friday is by pushing back against domestic pressure for him to do more. and if so, would you suspect that pressure is coming partly from inside the pentagon? actually, the pentagon is usually the most conservative institution in washington, and so i don't think he's getting too much pressure from the pentagon to do more. obviously, the joint staff and the department defense are doing what they should do. prudent planning anticipation of requirements. and given the president options, but i don't think he's getting a 1st year from the pentagon. the congress seems to be in a bipartisan way in favor of doing a lot more. and i think that the president has overstated this business about no, we're not going to do this because it's as if it's automatically going to be world war 3. i don't know

the largest nuclear power plant in europe seized by russian forces. a relief to many. only a training building was set on fire in the fighting and ukrainian emergency services were able to extinguish the place. so it's important to say that all the safety systems of the 6 reactors at the plant were not affect it at all. and that there has been no release of radioactive for tv. ukrainian authority said several people died in the fire. keith blamed the file on russian projectiles or seascape. then the russian tanks knew what they were shelling, they were aiming directly at the station. this is tara, on an unprecedented level, or when my immediate toughening of sanctions against luxury having the nichoela terrorist, we need immediate closure of this guy of ukraine ever met is the only guarantee that russia, at least, will not strike with rockets involvement, targeting nuclear plants. yet the other woman will ottoman of the but nato allies were quick to rule out establishing a no fly zone once again. or they, they were united in condemnation of the russian attack, where th

w business special, where we're asking can europe quit russian gas? and if you're watching on our youtube feed, you can leave your comments and questions. we'll try to answer some of them later on in the program. but 1st energy industry leaders are gathering in texas with their sector in crisis. rushes invasion of ukraine has delivered a shock to oil and gas markets and energy firms are under pressure to take a stand against moscow. governments are also planning to turn up the heat. international sanctions against russia have so far excluded the country's energy sector. but that's about to change. the u. s. and europe are exploring a ban on imports of russian oil and gas. attendees of sarah week and annual energy conference in houston are discussing how to replace russian supply. so now i see that the u. s. is, is looking to venezuela is considering getting increased production from venezuela? well those barrels could have come from canada. melbourne, canada says it has spare pipeline and rail capacity and can move more oil to the united states. washi

but every one, the end for europe, the evacuation of europe. ah, although i'm come all santa maria here in doha, continuing coverage on al jazeera of the russia ukraine. we are 9 days into this conflict and rushes, sluggish military convoy still stove on the outside outskirts of the ukrainian capital. the scars of battle, we will hear from civilians, court and heavy shelling of homes around these and city of how to keep the you agreed to offer protection to refugees with residency of up to 2 years more people flee the fighting hello. when a potential disaster has been averted at europe's largest nuclear power plant in just the past few hours, ukraine's foreign minister, as well as an official at the shop at his yet facility, in the se, se the has been a fire. after came under attack from russian forces, russia now controls the site off to heavy shilling in the early hours of friday. the latest details in this report from the a having a fire fight at europe's biggest nuclear power plant. and a fire that burns for more than an hour before firefig

ba2 similar to europe. thanks for having me- ba2 is — similar to europe. thanks for having me- ba2 is a — similar to europe. thanks for having me. ba2 is a sub— similar to europe. thanks for having me. ba2 is a sub of— similar to europe. thanks for having me. ba2 is a sub of on _ similar to europe. thanks for having me. ba2 is a sub of on a _ similar to europe. thanks for having me. ba2 is a sub of on a sister- similar to europe. thanks for having me. ba2 is a sub of on a sister of. me. ba2 is a sub of on a sister of the original —— it's a sifter. we've had ba2 since december and now we're seeing more of. what we also know about it is it doesn't appear to produce any more severe disease, nor does it seem to evade our vaccines so than the original omicron. also, we have increasing data that suggests that if you were infected with the original omicron, you have quite good protection against ba2 at least for now. iii quite good protection against ba2 at least for "ow-— least for now. if that's the case, are we had _ least for now. if that's the ca

we will lose peace in europe. we can't have it both ways. and the german government needs to have this conversation with the german people and make the people understand who have lived for decades now in peace and prosperity. we need to have this conversation with the german people. we need to understand that ukraine's freedom is our freedom socking. things are happening. oh, so dreadful deed supply and c. a one question perhaps that arises is the question of accountability and tony blink and the u. s. secretary of state has been making clear that the world is keeping a very firm eye on what russian forces are doing and what consequences there might be. we've certainly seen in the past that on one of russia's methods of war ah, is to be absolutely brutal. we're looking very closely at what's happening in ukraine right now, including what's happening to or to civilians. while we're taking account of it, we're documenting it. and we want to insure, among other things, that there's accounted all the for me. so what c