the russian states never is as tight as i'm one of the most sense community best. most all sense i'm up the, in the 65 to 5 must be the one else calls question about this, even though we will then in the european union, the kremlin media mission, the state on russia cruising and split the ortiz full neck, even our video agency roughly, all the band on youtube tv services for what question did you say a request, which is the

double k up? so the last, i know the longest time way english can remember this only to get political just for the the 1st stuff which criminals will be officially published. and so for them they was given, you know, to pretty much the sort of thing. well, let's look at to see if the just some of which was followed by chance. i was i see what i give you all the things you put the just the fiscal, the little shop on the services. i have some the logistics i chose up on the discussion with them a little bit about those tasks because they are starting to pay the additional service. i will do this for you and then mosley. this is going. so let's jump on the the,

the 2024 is the year of process chairmanship and briggs. some of you may have heard that besides brazil, russia, india, china, and south africa. the organization now has new members such as egypt, iran, you opiate, and the united arab emirates. so this isn't an easy time for growth yet. brooks seems to be steadily moving forward. today i have the privilege to speak with the senior banker at the rest of the state development corporation, v e v r f. certainly start check about brooks sanctions, the declining role of the us dollar and what lies ahead for the economies around the globe. so again, that they're just hoping that someone up to dine with. so again, until you each totally one of the most to discuss topics is the possible contestation of russian assets by the west. american legislators are discussing transferring these funds to ukraine. you will be in union, they're discussing transferring any profits from the frozen funds to key if these are radical, unprecedented measures. but does this mean that essentially all other sanctions

have failed and how can rush or respond to see logistically, it's like a village? well, let me stop you a bit from a fall off. i agree that it's likely the most discussed topic, perhaps, except for everything related to conflicts. my suspicion is but extreme decisions related to confiscation simply cannot fail to have a negative impact on the central bank. internal policies related to placing temporarily free funds. what will be written that will opt sufficient restrictions be introduced, or some limits set that it's hard to say, but it's a historical fact. we have a completely new situation related to such actions and all economic entities, particularly the back v t b have taken steps towards the legal aspects and of trying to protect and secure the assets. i think this is the path we will take. we will see what has accumulated here in the russian federation, in terms of assets of developed country, economic entities, well, assets of russian economic entities being seized. so i guess we will go down this

off. it's quite difficult for me to speculate told me as massa, since i'm fall from these processes. but in any case, experience will definitely be considered by many of the economies of developed countries to acts more cautiously with the west and financial system. we perhaps, when moving towards creating an alternative financial system is all about finding the dollar or financial institutions of different countries. but having an option, having the right to choose a menu of choices to everything, points to a situation where instead of one international financial system, we will have more, maybe an alternative, maybe even not just one, no time to save, and nobody can. i share a view with others that globalization, as a dominant phenomenon, is beginning to recede and regionalization has become the dominant trained countries within a region of forming global markets. and within these markets, they're already establishing that local payment and settlement systems, enabling economic entities to trade most smoothly and flexibly with each other. i don't know, like, what, like, what kind of shows up in the sense the why do things are so many western sanctions

and why have they not succeeded in crippling the russian economy despite all of those predictions, by so many western officials, did they all know this would happen from the very beginning and were simply following washington's the anti russian agenda or did a general, you come as a big surprise to them when she lives in this vision? well, we want to mention the causal relationships that threatened us with bits and pieces . my point of view is very simple. russia has a large economy with the more it's a diversified economy, no matter how much we say we depend on natural resources, primarily oil and gas, which constitute almost off of the federal budget. revenues from the sale of those results is, is now evident in the 21st century that we rely no, certainly on the oil and gas sector. but also on many of the industries that have stood on their own. 2 feet of cost, primarily agriculture, whose ex pulled performance has been mentioned as a splendid result of cheap by the government in recent years. this includes the banking services sector in terms of quality, speed of service,

and the capabilities provided by the banking sector. today we seem to be far ahead of switzerland. i haven't been to europe for a long time, but they say that such financial trend spasm payments we easily make every time using smartphones, phones or q archives a quite rare in europe. whereas here we have from my diversification perspective, at least 3 strong pillars within the country. and these pillars have proven that viability does not a comparison with how the banking sector operates in these conditions and how we operate it off to the 1998 crisis. when we regressed and started carrying caching out pocket and of course the industry related to the military industrial complex to show that it can quickly restore production, needing too strong demand for a variety of products, driving development on vehicle. essentially, we largely rely on this demand. these metals, right of elements, electricity and demand for labor, which is also in short supply. i believe all this has ensured resilience to external pressure. although i also believe one should be fairly restrained in assessments as 2 years of such caution sanctions. and it's such a large economy,

it's still a relatively short period of time looking at a longer term perspective, especially considering the great desire to undermine all financial system. we need to be, i would prefer restrained evaluation of our resilience. this is what is called resilience in english, not sustainability, but specifically resilience, resilience to external pressure. the economy and numerous enterprises have shown that we can do this, but let's continue to observe weights and prepare personnel. just like in the past past will make all the difference that the current stage, that's my point of view. i understand is from the lines with what the government discount is saying and dreaming of in terms of retraining the masses. so the though is it should be waiting for the north. let's briefly discuss the dollar according to i am at the data last year. it's sheer and global currency reserves decreased at 50.31 percent the lowest in 20 years. do you believe this trend will continue considering the sanctions policies and the growing us national debt?

which this year is set to exceed spending on defense and continue on strength? and under these conditions, again, my attitude towards the dollar is security of my thing, perhaps is an exaggeration, but the dollar is like impacts. it's like a 2 person. everyone says get rid of a dollar, blaming the dollar for everything. but what's the fault of the acts if it's use not to chop wood, but it's set to shop heads. it all depends on who wields that. the problem is that the financial system, even systems related to transactions to a greater extent. so called financial infrastructure and it's key elements like declaring houses, central accounts, of policies, central deposit trees, but especially correspondence accounts. those are all controlled by authorities, authorities through the supervision mechanisms. potential oversight regulation will sippy through legal means issue relevant instructions and complaints services of pacific american banks, which process dollar payments comply with these instructions. if they don't comply, then they should be penalties sold, a legal entity, the bank itself, west of all,

i'll send it affects the specific individual, like a credit or payment officer, making those decisions. the problem isn't with the dollar. it's in the financial infrastructure more precisely. and how the financial infrastructure is utilized for political purposes. as for this indicates a well, the share of the dollar in international reserves has decreased. yes, but that's not the most important factor regarding the dollars influence on the global development and global financial system. i liked the category introduced into circulation by the former governor of the bank of england monk connie. i've known him for a long time. we've had many discussions sort of, he started using the term dominant cover and say, that's the key point dominant will try to coordinate something else like the prime rates, most important or something else. reserve currency is understandable. besides the dollar, we also have revenues in europe, chinese and japanese. yeah. now, but in terms of quality, the main dominance of adults lies in the fight. this cards is the basis for pricing,

especially for commodities of exchanges. and at this stage, it's impossible to move away from this. at least we have one good example when a trend began with the use of futures on the shanghai commodity exchange denominated in the national chinese currency. this is a significant step towards reducing the dominance of the dollar. from my perspective, this is much more important if we want to come back this dominance, then decreasing the dollar share of international reserves. if these trend accelerates, that's one scenario. but we know, for instance, the chinese authorities on pushing for the international lives, ational bend national currency, for instance, just recently and event representatives of india mentioned that that goal is to internationalize the indian currency as part of the state policy or agenda. while i haven't read such statements related to the people's republic of china. moreover, in order to exert significant influence to enter this international circulation, bits of payment, supplements, reserves, or any other purpose, you need to have a trade deficit over time. you'll money needs to fly out of the country,

creating demand for it. similar to what happened in post world war 2 with the american dollars. it actually became what it is because of a precision us balance of payments deficit. and the accumulation of dollars in your rates are and accounts. i understand that the people's republic of china is not ready for that because of questions about trade surplus and consequently a surplus with the balance of payments. all the priority for the people's republic of china. i see it is rush. you're ready to move away from the dollar and how advisable in diesel is this? what would be needed for this to happen? says rules mother easy. what is this? not the framing of the issue here should be old nuanced, often roll russia as a sovereign entity practically does not engage in cross border money transfers, except when perhaps we have placed the bones found obligations in numbers of currency. i have been forced to repay and service the participants in currency relations all across the board of financial flows, all economic entities. this is the fundamental basis for understanding the situation. so many of our exporters and import is abandoning the use of the dollar,

does not entirely fit into that commercial strategies to put it mildly, therefore, in the absence of pressure from below. no one will certainly go down the path of banning the use of the don't that if your text by generates value added exports and believes that it's more important to receive compensation for his expenses in this particular currency, no one will head to him. so how can brush of refuse this is to abstract and see a radical thoughts? i think we need to come down from this perspective. the main participants in cross board of money flows, all economic entities, not separate entities. they genuinely care about their business, their profits, and if it's beneficial to them, they will never refuse. they will continue to do what they do have ortho, can you please explain in simple terms of what any can nomic entity is more to prepare to enterprises of various legal forms. it could be a corporation, a trading company, a commercial bank, or a non banking commercial organization, all those who state and that funding documents a goal of making

a profit. i'll consider economic entities to me like this category. it is the most encompassing. this includes both large and small enterprises, trade industry, transportation, and services. of all kinds of these are economic entities. even an individual entrepreneur like a plumbing in all case, he's also in the economic and say, well, if he pays taxes, that's good. oh, if he's getting a license now, we would have to start. so you were saying that the actions of all these legal entities depend more on them and then on the authorities. if or of course, at least the government will never allow itself to go against the interest of economic entities, bots, if the government where to take that route, then who would form the tax base? who would pay taxes? if there's no profit, what would you pay from? that's why we have a system when no presentations are in place. and in russia's central bank governance mission, w, and my, my opinion, has repeatedly stated that there are no restrictions on operations involving evers of currency nor any plant. moreover, as far as i can judge from the press,

if the government supports extending the period for a mandatory sale of foreign currency earnings literally today, yesterday there was information then the central bank believes that the time has come to abolish this. no. well, everyone has to own arguments, the government has its arguments, the central bank has 8, sorry, i want to comment on who's why it's all wrong here, but the period of a fairly stable rouble. it happened. we live with it forever. yeah. i believe that citizens, the most of the stuff inside the responsibility predictability in how the ruble exchange rate changes relative to reserve currencies. just never the less that are totally operations and national currencies between wish and china. almost entirely avoiding the use of the dollar and euro in bilateral trade because something similar happened within bricks yesterday, but some of the data, if we look at the trade flyers, it presented india. these are trade flows that rely on the dollar. and to assume that again, those same economic entities, all these jurisdictions will decide today that is not interesting, not profitable, and not necessary. is it very difficult for me to,

although at the event we had it's cold beat breaks into bank corp mechanism partners in this club, united development banks of 5 countries with hopefully 5 more institutions. joining us together, they say let's still look at how we will stimulate settlements and national currencies even most i'm not just settlements, but financing investment projects in national currencies or but this is very logical because if you implemented project in a specific jurisdiction, it's expected that if your project is successful. the sailor products from this blog will fax rates will be a national currencies. accordingly, paying off the credit. attracted for this project will be easy and the topic of course, always sounds like how to meet the demand for national currency for an economic and see from a foreign country how they have access to the national financial market. how open it is. we are advanced in this sense, but all markets when breaks a not yet deep and diversified enough for these operations to run smoothly enough. the main advantage of americans live precisely in this, a huge deep market with different participants and most importantly with different

opportunities and financial aids from a disciplinary there. all kinds of them have. this is something we still have to do within the brakes union. i think a one thing is when you have come and board is have the opportunity to form joint projects when economic entities for 2 countries participate. that's one situation. like what happened with china to joint production, export and import contracts that understandable how they implemented, how they have funded. and the other thing is trading with south africa or trading with brazil where they have completely different logistics completely different supply demand regarding investment goods. but simply withdrawal materials and energy results is now when it comes to industry head, there are different standards, different measures related to technical compliance and so on and so forth. one of your questions was about forming a customs union. i think that in the near future within breaks this is simply impossible. usually 1st comes the customs union, then we move on to a free trade zone, as well as the case in the razor. and you can only union,

there is a certain sequence here. can you imagine how many economic and commercial ties and needed the business pressure from below to full? so authorities to engage in this way, i can phone me corresponding agreements which should be multi lateral, not biological, but multi natural. i would prefer it more if within the brakes or lines we managed to united lee and energetic the act within our international trade organization, which, judging by the reports coming in is currently going through challenging times. i'm talking about the world trade organization, how to modernize it to how to manage strong dominance of the united states, which has prevented arbitrations for being appointed. and many processes have been sold. that would probably be a more pragmatic golden thinking in terms of a free zone. and i have heard about this idea of from south africa, but it is a brother, small economy, as they say themselves, do not view us as just an economy, is that they ever go, we represent the interest of being tie african continent. well, that's that stands. so that's why you said he believed creating a single currency with embrace was a utopia for me. and i remember that statement. it also had the words at the

current stage or in the future. and no one can say in which direction development book guides, county right now here, and i'll building the focus is on creating the most favorable conditions, the using natural currencies and for settlements and mutual trade in investments. this is the main task. meanwhile, in the background, there are many ideas and proposals related to incorporating digital tendencies or digital assets into this turnover. as all the central bank likes to say, i don't know, to what extent the use old baseball drink technologies and all these exhausting one . that's where the naval operations on huge done i'm is optimal is trade. it's billions. it's one thing to have one. it sounds like there were billions in one, it's 2, but that's billions, not hundreds of billions. to assume that these modern technologies won't be able to replace these fit currencies that we currently rely on. the lowest of large numbers . they live that life. maybe something will happen, but certainly not non lifetime. i think in our lifetime we will continue to rely on fed carnes, a transactional bridges to special funds related to these i t. technologies will be

formed. the perspective is very strong that the, the id companies will significantly push banks. i with the financial markets or banks themselves will start transforming into i t corporation model. everything is moving towards that. it mean clearly the trend is in that direction. how fast that this will happen? well, i don't know, it's impossible to predict that for a non, for in your question, i would still reiterate that at the current stage, the priority is settling payments in national currencies. discussions regarding a common currency in the brings unions may take place at the level of academic circles or the level of authorities, primarily monitoring authorities, central banks, considering the session of a new group to the union. it's clear that the task is becoming even more complicated. although the task associated with expanding the practice of using national currencies can be somewhat facilitated with more participants, more practice, a more experience. there may be more opportunities when you make money from supplying goods to one country. in simple changes, we have the option to spend the funds in another country in the same currency. so

such opportunities will begin to emerge. open the bug, you mentioned the bricks to develop and bank competes with or be more attractive than the i math. but i'm kind of need to, but it's in the book, there is no breaks development bank. there is a new development bank. that's the official name of the international organization that we negotiate. just having with this name was. this is the new development bank . yes it's found is all members of the bricks grouping? why is it new? how did it come about? well, it happened because they tried to find some terminology related to describing what bricks is. but the times, what somewhat awkward. so what presenting colleagues, propose a workable time. let's coordinate the new back room on just so others don't do left out. well the yeah that, well, yes, they started working on it. what's new about it? first of all, the group agreed that each member would have an equal amount of capital and consequently an equal number of votes. this is unprecedented. everybody else, the more you have, the more about you get since i want for them all,

they agreed that the banks presidency would write site every 5 years in a set order. every 5 years, a representative from one of the founders would step down best innovation. now the innovation involves the rotation of vice president, the roles, all the vice presidents are divided. someone is responsible for the credit operations, someone for a while and others, but managing temporary surplus funds for handling treasury functions. all these roles must be right. they did every 5 years, and perhaps the most important novelty of this institutions is that one can join the composite bit by invitation only. so if you want to join any of the multi lateral bank, if you apply on the process begins, applications, don't what you need to be invited. would you need to be a member of brooks for this? no, no, we have bangladesh, for example. it's not the brakes. man, but we've just to put an order in this sense, russian has forgiven debts to many countries, especially too many african partners, or is that what benefits does moscow gain from this kind of short story? which is good that you would least use this idea in the past tense. indeed,

everything has been written off. well, if not everything, they're all remnants. but hey, you need to remember one thing. russia went toward cycling, or writing of that is from lines provided by the soviet union. that's it. this is the key point from this to more things to such fact as need to be understood. firstly, historically, the soviet union wasn't particularly concerned about the issue over the payment of lines. roughly speaking, they ones especially attentive, political and strategic tell us related to presence in africa. well being addressed and accordingly, legs were grounded, but these will always cycled tied loans. no actual money was given machinery equipment, food was sent. soviet enterprises would, lo did they receive money and goods was applied, that institution, external economic bank, all the soviet union, recorded the equipment value of the supplies against the dead, agreeing on a schedule for the return of these funds, these labels, well then it continued from there that's the 1st part. the 2nd important aspect to

you is that we spend so being roubles or rather not wait, but the finance ministry, but don't is all some of the currency was set aside for the debt as an interesting exchange rate. and therefore, they began to recalculate the debt denomination in dollars to nominated in roubles in to dollars. we calculated the dollar is $67.00 carfax, and in reality, how much was it back then? when in reality, there was no market. so the debt recorded as $100000000.00 roubles, turned into $140000000000.00 bullet. therefore, when they talk about these commercial vital, so you need to evaluate the circumstances depending on the context. if you are somewhere presenting and talking about how cool we are in terms of rights, also you can say that, but in all conversation, you see i'm saying it this way. and another fact to more regarding the russian federation to normalize financial relations with many states. if you don't have regulated relations, including those related to that, you or we at a minimum cannot provide new loads. plus we made concessions because follow from old debts as to the former soviet union degrade with the assumption that russia is

the rightful successor to these assets. well, some neighbors were locked in and came to capitals and argued that they to, from their factory supplied goods. and so they also have the right to make a claim. that's why it was necessary to settle the relationships. and during the settlement, we negotiate to the exchange rate and that we apply the official exchange rate for combining ruble obligations in dollars name or ton of cost we and to discount the received amount within the framework by primary upfront discount. economically speaking, everything is perfectly fine. i don't see any problems. let me join the powers club of credit as we worked like everyone else within the club framework under a principle of solidarity. yes, much had to be written off, but in commercial times, this is called hopeless debt obligations. you can keep them on the books and definitely no one will work on that with the government. emphasize this pragmatic approach, but here i personally messed up a lot. my wife scolds me a bounce. it. what options you have quite an interesting story. good. if this is

a good, she said you gave 3000000000 to the ukrainians. why? that's when we bought your right bones full. 3000000000 payment was different. it was present. so i wanted to ask, could you, these neighbors also forgive soviet union's better. and i see opinion, one of us know, but we took everything for ourselves. russia assume the obligations of the former soviet union instead. consequently, we also took on all the assets, colleagues from the c, a u. s. in general, would not complaining a tool. everyone agreed funny because they had in this stage of national suffering states where they had no debt obligations. of course, feel free to go to the markets, engaged in activities and so on and so forth. good, good, good. so again, i thought it was thank you so much for your time and the, the along the casualties as a result of israel's genocidal assault on gaza. include suspension of international

humanitarian law, but also free speech across the western world. perversely, being pro palestinian and po piece is condemned as they submitted on march the 22nd 1943 during the great petri, i'll take the shirts and munch fatality and 118 run down the battle, receiving village of cutting the ship of them for the new wish and luxury is the most of them to pony it to you? 149 people died including 75 children of age was practically wiped off the face of the law. new blue loves the live, arching couldn't. charlie was noisy and will you put it as follows? oh, shoot was hard really. i really usually don't use doing yourselves. the infamous battalion

responsible for the atrocity included over $100.00 ukrainian national is from west to new. right. because of the picture. all right, and so i'll see you guys so far as the new e phone, there's a lot of those to you guys pursuing your up. assume um i'm with them. us costs de classified criminal cases from the central archive of the k g b, a better rules shed light on the atrocity. and on so numerous questions that have remained an onset for many years. watch on oxy. in the united states, try new, i'm out of the sanctions on russia. that's the best thing the that's going to happen to russia because the sanctions on russia, against agriculture, against the other items to o, made russia fetus. tardies that's on so as on agriculture and now,

so the major bryant export are no longer defendants. on the united states and europe, the revolution of 1789 in france, gave hope for the liberation of the oppressed peoples in the branch of overseas territories. but paris did not want to part with its sources of profit. so 1st sign of the colonization was the uprising of black slaves and hating that remote island, produced almost half of all the sugar on the planet sooner was made by d as in franchise slaves. broad from africa. scene 1791. they started an uprising against their oppressors. the black swept away the colonial

administration and formed their own army. it was led by that charismatic leader, francois dominique, tucson, levered 2 or 3 times to regain control of the colony were unsuccessful. having comes up, our napoleon dispatched a large expeditionary force to haiti, the french manage the caps or to saul level 2 or by defeats, but they could not suppress the rebels and suffered devastating defeats. on january 1, 18 o 418 declared independence. the 1st one in the whole latin america. how, however, freedom was paid for with the blood of 200000 courageous haitians who had sacrificed their lives for the abolition of slavery on our planet. the events in haiti were the only successful uprising of slaves in history when they not only through of

slavery, but also began to rule their state. the issue going to go into effect the most the most to the start of the course of people typical.