Russia squeezes Germany over gas
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 31 March 2022
⏱️ 11 minutes
🧾️ Download transcript
Summary
SoftBank will slow down further investments amid a scramble for cash, journalist and “Putin’s People” author Catherine Belton talks about the impact sanctions are having on Russian oligarchs. Plus, the FT’s Frankfurt bureau chief, Martin Arnold, talks about Russia’s threat to halt gas shipments to Germany and what that could do to the German economy.
Mentioned in this podcast:
Softbank to slow investments after crash in tech holdings
Germany takes step towards gas rationing over payments standoff with Russia
Journalist Catherine Belton on Rachman Review podcast
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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. |
| 0:11.4 | Today is Thursday, March 31st, and this is your FT News Briefing. |
| 0:18.8 | The world's biggest tech investor is scrambling to raise cash. |
| 0:22.8 | Author Catherine Belden talks about the impact sanctions are having on Russian oligarchs |
| 0:28.0 | and we'll find out about Moscow's threat to halt gas deliveries to Europe. |
| 0:32.5 | It's a way for Russia to flex its muscles, for Putin and the Kremlin to say to |
| 0:37.7 | European governments, take it easy on your plans to keep ramping up sanctions because |
| 0:42.8 | we have economic problems of our own. |
| 0:45.2 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:50.8 | The FT has learned that soft bank founder Masayoshi Sun warned top executives to slow down |
| 0:56.8 | further investments. He made these comments at a meeting this month. |
| 1:00.6 | This comes as the world's biggest tech investor is struggling to raise cash. |
| 1:04.9 | Soft banks taken a beating by the route in tech stocks. |
| 1:08.2 | Tech shares have plummeted as interest rates have gone up and also because of the war in Ukraine. |
| 1:13.5 | But over the past year, soft banks' stock price has halved. |
| 1:17.2 | It's also been hit by a tech crackdown in China that's crushed the values of Chinese companies |
| 1:21.9 | listed overseas. Soft bank was a huge investor in companies like Alibaba and DD Global. |
| 1:32.4 | Europe's energy war with Russia is taking a tough toll on Germany, |
| 1:36.6 | and things could get even tougher. The country is now bracing for a gas emergency in case |
| 1:42.0 | Russia halts deliveries. The countries are at odds over how to pay for the gas. |
... |
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