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threat from china. rishi sunak is due to meet the australian prime minister and the us president. the three countries are expected to agree to provide australia with nuclear powered submarines. now on bbc news, it s hardtalk with stephen sackur. welcome to hardtalk. i m stephen sackur and today i m in nice on the french riviera, a glamorous corner of europe, which has long been a favorite haunt of russia s oligarchs. and my guest today, sergei pugachev, is one of them, or at least he was the billionaire businessman helped vladimir putin make it all the way to the kremlin. but their relationship soured. pugachev was accused of massive financial crimes. he fled from moscow, first to london and then here to nice, where he enjoys french citizenship. he now has his own private security and an extraordinary story to tell, which gives us insights into both the strengths and the weaknesses of vladimir putin. sergei pugachev, welcome to hardtalk. hello, thank you for the invit ....
For a fixed rate mortgage, because they have been coming down. even as interest rates, the base rate, the most important rate in the uk, is going up. why the difference? well, the cost of a long term loan doesn tjust depend on today s interest rate, it depends on the interest rates over the whole term of the loan, and as those expectations rise or fall, that is what makes a difference to the cost of borrowing for banks, because, of course, banks are just a middleman. in order to provide you with a mortgage, they go out onto the open market, get a loan, and then pass that on to you at a slightly higher rate. now, we can take a look at the increase in the cost for then borrowing that they pass on to you over the last few years. we can see, as i said, things were looking worse injuly, and that has been when the cost of a five year fixed for a bank hit its peak, it s been good news since then, and they have been coming steadily down. they are now a good deal lower than they were injuly or ....
Mining company, it was biggest in the world. yes, but you were building these assets. i built it before putin, you have to understand. yes, but then you need to understand that those assets became strategic. they became things that the kremlin wanted to have close control of. and, therefore, when you and your bank hit huge trouble in 2008, that was an opportunity for the kremlin to move against you. ....
Did you personally overreach yourself, push yourself too far in russia? you were supremely wealthy for a time, i think you claimed at one point you were worth $15 billion. your interests went beyond your bank, but they also included shipbuilding, also included one of the most valuable coal fields. mining company, it was biggest in the world. yes, but you were building these assets. i built it before putin, you have to understand. yes, but then you need to understand that those assets became strategic. they became things that the kremlin wanted to have close control of. and, therefore, when you and your bank hit huge trouble in 2008, that was an opportunity for the kremlin to move against you. ....
Overreach yourself, push yourself too far in russia? you were supremely wealthy for a time, i think you claimed at one point you were worth $15 billion. your interests went beyond your bank, but they also included shipbuilding, also included one of the most valuable coal fields. mining company, it was biggest in the world. yes. but you were building these assets. i built it before putin, you have to understand. yes, but then you need to understand that those assets became strategic. they became things that the kremlin wanted to have close control of. and, therefore, when you and your bank hit huge trouble in 2008, that was an opportunity for the kremlin to move against you. ....