will entail? tt’s entail? do we know what these will entail? will entail? it s a fresh batch of sanctions will entail? it s a fresh batch of sanctions we will entail? it s a fresh batch of sanctions we heard - will entail? it s a fresh batch of sanctions we heard this i of sanctions we heard this morning from us official, basically targeting russia s access to battlefield materials, so the idea is that we got dozens of dozens of new materials, new exports that are going to be targeted by the sanctions. the idea is to try and hurt russia as much economically as well as militarily to try dissuaded from continuing its attack on ukraine. but there is one thing putting in sanctions, and imposing them. we know that russia is using third countries and expecting to hear what g7 leaders were tightening restrictions on that regard. we are going to have to see how much the us, which is pushing for really harsh export bands. and also its european partners are willing to wait in the
major fault lines right now. he touched upon the majorfault lines in ukraine major fault lines in ukraine and majorfault lines in ukraine and taiwan but he also spoke about trade and said that china reposes attempts to place barriers and walls in international supply chains. a reference there, of course, to the sort of export bans that the sort of export bans that the us has been placing on chinese technology, for good reasons. we saw reports say that chinese tech companies are facing a shortage of semiconductor chips and the analyst we have been speaking to have said that these export bands produce the desired effect of hindering the development of cutting edge technologies in china such as artificial intelligence. thing is they also heard us technology companies and tech companies elsewhere. just this week we learned that seagate, an american company, faces a $300 million fine for selling hard drives to huawei in violation of those export bands. and we have also learned
could happen. the un and turkey has really done their bit, they ve brought these two sides together to at least get this done, which is so important for the globalfood done, which is so important for the global food security. you talked about the global food security. you talked about all the global food security. you talked about all those factors at play at the moment, things like the weather and fuel prices things that it s very difficult to do anything about right now, what do you see in terms of what the international community could do in order to ease things? ease things? well, i ust hope they don-t ease things? well, i ust hope they don t repeat i ease things? well, ijust hope they don t repeat the - ease things? well, ijust hope they don t repeat the same i they don t repeat the same mistakes they made over ten years ago when we had a food crisis, when there were a lot of export bands. as countries face food inflation domestically, they put a ban on exports. i m worr
suppose, in a more muted fashion to the sanctions that it could potentially have done. it is introduced these export bands but crucially, it is not limited to the supply of gas to europe, it has not put export bands on key commodities like nickel and aluminium. what do you make of russia s move so far and do you think they could potentially go further? this far and do you think they could potentially go further?- potentially go further? as you note, russia potentially go further? as you note, russia is potentially go further? as you note, russia is a potentially go further? as you note, russia is a huge - potentially go further? as you l note, russia is a huge presence in the global commodities markets, they are about one tenth of the global supply of aluminium and copper, about one fifth of the global supply of battery grade nickel. russia needs dollars. they need euros. because for any russian importer to import goods and services into russia, they need to first get dollars and
economy consume less gasoline and electricity. the output will probably decline. so you will see a softening of demand from that perspective. economists urge president obama not to overreact to rise in food prices by export bands on the u.s. agricultural projects or other obstructions on the market. bret: stocks took a knows dye today. dow lost 242. the s&p 500 gave back 25. the nasdaq dropped 50.5. housing starts plunged 22.5. second lowest level on record. oil prices were up. april crude rose 80 cents. gas prices went down a