Russian banks hobbled by sanctions
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 14 March 2022
⏱️ 10 minutes
🧾️ Download transcript
Summary
US officials say Moscow has asked Beijing for military equipment to support its invasion of Ukraine, Ukraine’s army celebrates its Turkish drones but Ankara plays down weapons sales to appease Moscow, Russia has ratcheted up the chances that it will default on its debt with a threat to pay international bondholders in roubles rather than dollars, and sanctions are forcing Russian banks to abandon global ambitions and focus on survival.
Mentioned in this podcast:
US claims Russia has asked China for military help in invasion of Ukraine
Russia threatens to make external debt payments in roubles
Turkey is trying to carve out role as a mediator between Kyiv and Moscow
Russia’s banks turn from global ambitions to survival
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 |
| 0:10.0 | Good morning from the Financial Times. |
| 0:11.6 | Today is Monday, March 14th, and this is your FT News Briefing. |
| 0:18.5 | US officials say Moscow has asked Beijing to send military support for its invasion of Ukraine. |
| 0:24.3 | We'll also look at a key weapon Ukraine's been using in its fight against Russian forces. |
| 0:28.7 | Ukrainians have been flaunting the success that they've had with these drones on social media. |
| 0:33.5 | They've written a pop song dedicated to them, puppies, and a Lee Moore born in the Kiev zoo. |
| 0:39.2 | We're named after the drones. |
| 0:41.2 | The Moscow is threatening to pay its dollar-denominated debt in rubles. |
| 0:45.9 | Plus, we'll look at how Russia's banks are faring in the wake of Western sanctions. |
| 0:49.9 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:58.8 | US officials yesterday said that Russia has asked China for military equipment to support its |
| 1:07.0 | invasion of Ukraine. This news comes as US national security advisor Jake Sullivan is set to |
| 1:12.7 | meet China's top foreign policy official today in Rome. People familiar with the situation |
| 1:18.0 | said Sullivan plans to warn China that any efforts to help Russia with the invasion |
| 1:22.4 | or avoid Western sanctions would have consequences. |
| 1:31.4 | Moscow's invasion of Ukraine has been brutal, but F.T. reporters have also found this initial |
| 1:36.8 | phase has been full of blunders. Poor planning, weak intelligence, and high casualties. |
| 1:42.1 | Russia's lost hundreds of tanks and armored vehicles. |
| 1:45.7 | One reason Ukrainian forces have been able to wreak so much havoc is that they're using a |
| 1:50.3 | Turkish-made drone called the Biorectar TB2. It has a wingspan of about 12 meters, |
... |
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