China shifts stance on Ukraine
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 2 March 2022
⏱️ 11 minutes
🧾️ Download transcript
Summary
The controversial Nord Stream 2 pipeline company that was to bring Russian gas to Europe is reportedly insolvent, China has signalled it is ready to play a role in finding a ceasefire, and crypto exchanges are under pressure to block transactions with Russia as western politicians fear that cryptocurrencies will undermine the effectiveness of financial sanctions.
Mentioned in this podcast:
Nord Stream 2 pipeline becomes insolvent, says Swiss official
Beijing shifts public position after call between Chinese and Ukrainian foreign ministers
Crypto exchanges resist calls for Russia bans after sanctions
The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:09.7 | Good morning from the Financial Times. |
| 0:11.3 | Today is Wednesday, March 2nd, and this is your FT News Briefing. |
| 0:19.1 | The company behind the Nord Stream 2 pipeline has reportedly become insolvent |
| 0:23.6 | and China has shifted its stance on Russia's attack on Ukraine. |
| 0:27.7 | Some analysts were speculating that Beijing was taken somewhat by surprise |
| 0:31.4 | by Putin's actions last week. |
| 0:33.8 | They're now scrambling to try and be a peacemaker in global politics. |
| 0:39.2 | Plus cryptocurrency exchanges are coming under pressure to shut down ties to Russia. |
| 0:44.3 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:48.0 | The pipeline project built to pump Russian gas across the Baltic Sea into Europe could be dead. |
| 1:02.1 | A Swiss official yesterday said employees of the company behind the Nord Stream 2 pipeline |
| 1:06.6 | received termination notices. The company appears to be insolvent and is facing |
| 1:11.4 | quote, massive payment difficulties. This comes a little over a week after the U.S. Treasury |
| 1:17.3 | issued a sanctions order against the pipeline. The FT Sam Jones explains the significance of |
| 1:22.4 | the pipeline's potential demise. Nord Stream 2 has really been a sort of centerpiece |
| 1:27.9 | of the diplomatic discussion around deterrence and what Europe needs to do to stand up to Russia. |
| 1:35.4 | This is a pipeline that is designed to bring Russian gas to Europe and to circumvent |
| 1:43.1 | Ukraine and doing so. And so really in that sense to make Europe even more dependent, |
| 1:48.7 | according to critics at least, on Russian gas. So when the whole discussion has heated up |
| 1:54.5 | about how Europe needs to take a bolder stance against Russia, |
... |
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