hello and welcome. leaders of the g7 group of nations have reinforced their commitment to enhance the economic isolation of russia and step up a campaign against russian elites that are supporting president vladimir putin. the united states has unveiled sanctions against three russian television stations and executives from gazprombank. the uk has pledged to double its military aid to ukraine to £1.3 billion that s about $1.6 billion. the world s top economies have vowed to phase out dependency on russian energy but bulgaria will not support the european union s new set of sanctions against russia if it does not get a delegation from the proposed ban on buying russian oil. the eu says it will hold more talks monday. joining me now is dr adi imsirovic, senior research fellow at the oxford institute for energy studies. thank you for being with us. these talks continue today with the eu to try to reach some consensus and the sticking point is how to get oil supplies to landlo
the economic stand off between russia and the west ratcheted up further today. the russian gas supplier gazprom told poland and bulgaria it was cutting off their gas supplies altogether from wednesday. gazprom has said what it calls unfriendly countries must pay for russian gas in roubles from now on. that s something eu states are refusing to do. joining me now is sunaina sinha haldea, global head of private capital at raymond james. of private capital what at raymond james. impact is this going to both what impact is this going to both countries are seeing the impact will be manageable. it is spring heading into summer, and demand from consumers and their countries is lower. this is a example of russia trying to happen as natural gas and oil supplies while it can. we know that most european countries are on our planet to give themselves russian and gas imports by the end of the year. and impulse. this is potentially a warning shot to the rest of europe. given that many
the world bank says it expects ukraine s economy to shrink by 45% this year as a result of the war with russia. the bank says enormous financial support is needed immediately to keep the government running and to support a population enduring the hardship of war. it s also forecasting there will be greater economic damage than was caused by the covid 19 pandemic across eastern europe and central asia, with unprecedented sanctions leading to a steep recession in russia, too. joining me now from warsaw is anna bjerde, the world bank s vice president for europe and central asia. anna, good to talk to you. no surprise at all to hear that the outlook for ukraine is dire economically but the question is how do we help ukraine. the world bank is pledging even more money? world bank is pledging even more money? great to be with ou, more money? great to be with you. sally. more money? great to be with you. sally. and more money? great to be with you, sally, and thank- more money?
the highlight of the day will be the address by the world s most powerful central banker, jerome powell. delegates will be listening intently for any reassurances he can give. i am joined by matt orton, chief market strategist at raymond james investment management, he follows the annual outcomes of jackson hole. welcome, good to see you. what you think we can expect from jerome powell today?- jerome powell today? good morning. jerome powell today? good morning, good jerome powell today? good morning, good to jerome powell today? good morning, good to see - jerome powell today? good morning, good to see you. | jerome powell today? good | morning, good to see you. i jerome powell today? good - morning, good to see you. i am hoping and expecting we don t see very much. i would say i m not expecting to see too many fireworks one way or the other because the market has been doing well, the economy itself in the us has been holding up much better than i think most people wou
of the international monetary fund that the world s second largest economy is at a fork in the road . director kristalina georgieva says china must choose between policies that have worked in the past or reinvent itself with pro market reforms, adding china s economy that has struggled post covid could provide much higher economic growth with changes. in the medium term, china will continue to be a key contributor to global growth. according to our analysis, of pro market reforms can bring an additional growth capacity for china. this additional growth will amount to a 20% expansion of the real economy over the next 15 years. find over the next 15 years. and this was over the next 15 years. and this was kristalina - over the next 15 years. and this was kristalina georgieva speaking at the beginning of the china development forum which is an annual gathering of global chief executives with beijing s policymakers. china is looking to woo back international money after seei