This is CBSI in the world. I'm John Bachelors, Joseph Sternberg. He's in London.

And the London reporting on Ukraine, I recommend to everyone, Ministry of Defense, Mr. Wallace.

And the cabinet, Mr. Syrnec's cabinet, are extremely well informed. They're careful.

Everything is produced with a measure of caution. But right now, Moscow is claiming the

dam was sabotaged by Ukraine. Anti-Cremeland partisans claimed to have killed an elite Russian

commander, flooding risk ecological disaster, according to Ukraine.

Now the London Times and the telegraph are saying, Moscow says Ukraine did it, or it was

shell fire. Ukraine says Moscow did it, and it was on purpose. There are voices such as

all of Schultz and Germany, calling this a war crime. That's for another day. The question

here is, what does it mean for the European economy? What does it mean for the confidence

of recovery? Joe, the headlines in London are alarming. Is London alarmed? Has London

moved away from this story or is it tense?

Well, I think the key thing about the explosion of the dam is going to end up being what

consequences it would have for the Ukrainian counteroffensive, which is supposed to be

starting at some point soon. I think that this has a lot of bearing on the issue of who

will ultimately turn out to have been responsible for this, because it does appear to be the

case that the Russians benefit much more from this than anyone else would, because the

concerns or that the flooding is going to obstruct what might have been an expected

Ukrainian counteroffensive in a way that would be very helpful for Russia for that not

to happen. I think that in terms of understanding what the economic or other consequences might

be for Europe, my first instinct is that really the biggest effect is going to be indirect

in terms of the course of the war, because it is much in Europe's benefit over the medium

...