Panicked Russian consumers stock up on staples
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 21 March 2022
⏱️ 11 minutes
🧾️ Download transcript
Summary
Germany said it sealed a long-term agreement with Qatar for liquefied natural gas supplies, prices on many products in Russia have shot up as sanctions blow a hole in Russia’s economy, EU lawmakers are set to finalise new rules for leading technology companies despite heavy lobbying by Big Tech, and a key player in the chip industry warns of a two-year shortage of critical equipment.
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Mentioned in this podcast:
Germany says its clinched long term gas deal with Qatar
Price surges and panic buying: Russia’s war empties shelves and wallets
How Big Tech lost the antitrust battle in Europe
Chipmakers face two year shortage of critical equipment
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 |
| 0:11.4 | Good morning from the Financial Times. |
| 0:13.4 | Today is Monday March 21st and this is your FT News Briefing. |
| 0:18.8 | Russia's attack on Ukraine is entering its 26th day. |
| 0:23.1 | Fierce fighting continued in Mariapol yesterday and Moscow demanded that Ukraine's |
| 0:27.3 | surrender control of the besieged port city. |
| 0:31.0 | Meanwhile, Russia's economy is starting to feel the bite of western sanctions. |
| 0:36.0 | We'll hear from our correspondent about shortages and surging prices. |
| 0:40.0 | You are seeing empty shelves when it comes to staple goods that people are |
| 0:44.3 | sweeping off the shelves in order to stock up in case of further price rises. |
| 0:48.8 | Plus, European regulators are finally set to agree on new rules for big tech. |
| 0:54.4 | I'm Joanna Gau, in for Mark Filipino and here's the news you need to start your day. |
| 1:05.0 | Germany, yesterday said it's signed a long-term deal with Qatar to source liquid-fied natural gas. |
| 1:12.0 | Germany's economy minister was in Doha as part of a tour of Gulf states. |
| 1:16.4 | He said this deal would be a door opener for the country's economy because it would reduce |
| 1:20.7 | its reliance on imported Russian gas. More than half of Germany's annual supply of LNG comes from |
| 1:27.2 | Russia. His trip comes as EU leaders prepare to meet in Brussels later this week to discuss |
| 1:32.6 | rising energy prices. |
| 1:38.7 | Russian consumers are feeling the effect of western sanctions. |
| 1:42.5 | Prices are rising, certain goods are disappearing from shelves, and consumers are |
| 1:46.6 | panic buying. The FT's Polina Ivanova joins me to talk more about what's going on there. |
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