1 00:00:01,560 --> 00:00:06,320 Speaker 1: Now from our nation's capital. This is Bloomberg Sound On. 2 00:00:07,600 --> 00:00:10,280 Speaker 1: Let's say who succeeds, who takes over all of you? 3 00:00:10,760 --> 00:00:13,000 Speaker 1: And then we're looking on a new line in Europe 4 00:00:13,000 --> 00:00:15,600 Speaker 1: that wasn't there before. The things start to get really scary, 5 00:00:15,640 --> 00:00:19,160 Speaker 1: really quickly when you talk about NATO ben obligation. Bloomberg 6 00:00:19,360 --> 00:00:23,880 Speaker 1: Sound On, Politics, Policy and Perspective from DC's top names 7 00:00:24,160 --> 00:00:28,320 Speaker 1: Survim administration could drop the hammer hold blocking sanctions against 8 00:00:28,440 --> 00:00:31,440 Speaker 1: major Russian state banks. Who understands one thing, Put the 9 00:00:31,520 --> 00:00:35,920 Speaker 1: sanctions down, make it clear who's in charge. Bloomberg Sound 10 00:00:35,960 --> 00:00:42,040 Speaker 1: On with Joe Matthew on Bloomberg Radio. The sanctions get 11 00:00:42,080 --> 00:00:46,320 Speaker 1: deeper as Russia pushes further into Ukraine. Welcome to the 12 00:00:46,320 --> 00:00:49,120 Speaker 1: fastest hour in politics on an historic day for all 13 00:00:49,159 --> 00:00:52,720 Speaker 1: the wrong reasons, as war breaks out in Europe. The 14 00:00:52,800 --> 00:00:55,080 Speaker 1: story is developing very quickly, has been all day, and 15 00:00:55,080 --> 00:00:58,000 Speaker 1: we're covering it from several different angles. Today we'll have 16 00:00:58,120 --> 00:01:01,560 Speaker 1: insights ahead from Congressman John get Amendi, Democrat from California, 17 00:01:01,600 --> 00:01:04,480 Speaker 1: who serves on the House Armed Services Committee. We'll talk 18 00:01:04,520 --> 00:01:07,920 Speaker 1: about the impact on energy prices with Neil Chatterjee, former 19 00:01:08,000 --> 00:01:11,360 Speaker 1: chair of the Federal Energy Regulatory Commission, and we'll talk 20 00:01:11,400 --> 00:01:14,880 Speaker 1: military strategy with retired Air Force General David Deptula. Our 21 00:01:14,959 --> 00:01:19,120 Speaker 1: panel today Bloomberg Politics contributor Jeanie Schanzano, along with Lester 22 00:01:19,240 --> 00:01:21,640 Speaker 1: Months and from b g R Group, former staff director 23 00:01:21,959 --> 00:01:24,280 Speaker 1: on the Senate Foreign Relations Committee. We have some of 24 00:01:24,280 --> 00:01:26,600 Speaker 1: the smartest minds we could assemble for you tonight. It 25 00:01:26,640 --> 00:01:29,959 Speaker 1: has been a remarkable twenty four hours as Vladimir Putin 26 00:01:30,040 --> 00:01:34,160 Speaker 1: sends the Russian military into Ukraine from the north, from 27 00:01:34,160 --> 00:01:40,920 Speaker 1: the east, and from the south sound from Ukraine. Hours ago, 28 00:01:41,000 --> 00:01:45,200 Speaker 1: a barrage of missile attacks, ground attack helicopters aimed at 29 00:01:45,319 --> 00:01:48,920 Speaker 1: Ukraine's air force, setting the stage for a ground invasion. 30 00:01:51,360 --> 00:01:57,920 Speaker 1: Ukraine President Vladimir Zulenski addressed his nation last evening, says 31 00:01:57,920 --> 00:02:00,720 Speaker 1: Putin started a war with Ukraine. Now he wants to 32 00:02:00,760 --> 00:02:05,240 Speaker 1: destroy my country. Hours later, President Biden addressed the nation 33 00:02:05,320 --> 00:02:07,760 Speaker 1: from the White House. He spoke from the East Room 34 00:02:07,760 --> 00:02:10,960 Speaker 1: with news of additional sanctions. We will limit Russia's ability 35 00:02:11,040 --> 00:02:15,320 Speaker 1: to do business in dollars, euros, pounds, and yen to 36 00:02:15,400 --> 00:02:19,120 Speaker 1: be part of the global economy. Well, limit their ability 37 00:02:19,120 --> 00:02:22,160 Speaker 1: to do that. We're gonna stunt the ability of to 38 00:02:22,320 --> 00:02:26,960 Speaker 1: finance and grow Russia. The Russian military, We're gonna impose 39 00:02:27,320 --> 00:02:30,080 Speaker 1: major and we're gonna impair their ability to compete in 40 00:02:30,200 --> 00:02:33,960 Speaker 1: high tech twenties first century economy. We've already seen the 41 00:02:33,960 --> 00:02:36,480 Speaker 1: impact of our actions on Russia's currency in the ruble, 42 00:02:37,440 --> 00:02:42,120 Speaker 1: which early today hit its weakest level ever. Four more 43 00:02:42,240 --> 00:02:46,440 Speaker 1: major banks targeted in this latest round. High tech imports 44 00:02:46,480 --> 00:02:51,880 Speaker 1: cut off. No more computer chips for Moscow. But what 45 00:02:52,040 --> 00:02:54,680 Speaker 1: asked about kicking Russia out of the Swift financial network, 46 00:02:54,680 --> 00:02:57,720 Speaker 1: which is an idea that's been circling for weeks and weeks. 47 00:02:57,760 --> 00:03:01,119 Speaker 1: The President said, not now. The sanctions that we're proposed 48 00:03:01,160 --> 00:03:04,559 Speaker 1: on all their banks of equal consequence, maybe more consequence 49 00:03:04,639 --> 00:03:08,960 Speaker 1: than Swift number one, number two. Uh. It is always 50 00:03:08,960 --> 00:03:11,520 Speaker 1: an option, but right now that's not the position that 51 00:03:11,600 --> 00:03:15,560 Speaker 1: the rest of Europe pushes to take. He also indicated, though, 52 00:03:15,560 --> 00:03:17,679 Speaker 1: that more is coming, and that is where we start 53 00:03:17,720 --> 00:03:20,960 Speaker 1: with Congressman John Gara Mendi, Democrat from California, member of 54 00:03:20,960 --> 00:03:24,240 Speaker 1: the Armed Services Committee. Congressman, welcome back. I never thought 55 00:03:24,240 --> 00:03:26,320 Speaker 1: you and I would be talking about a war in Europe, 56 00:03:26,360 --> 00:03:30,320 Speaker 1: but here we are on the February two. It is 57 00:03:30,360 --> 00:03:34,560 Speaker 1: our reality is President Biden going about sanctions one slice 58 00:03:34,639 --> 00:03:37,040 Speaker 1: or trunch at a time. Here the right way? Is 59 00:03:37,080 --> 00:03:38,960 Speaker 1: that the right approach? Or do you think we throw 60 00:03:39,320 --> 00:03:43,840 Speaker 1: the whole kitchen sinc now? But if we're gonna throw 61 00:03:43,960 --> 00:03:46,040 Speaker 1: the whole kitchen sink, we have to have the entire 62 00:03:46,120 --> 00:03:48,840 Speaker 1: keep ready to go. If you're going to go fast, 63 00:03:49,240 --> 00:03:52,480 Speaker 1: go alone, you're going to go far, you gotta go 64 00:03:52,560 --> 00:03:55,080 Speaker 1: with the team. And so that's where we are. Cousins 65 00:03:55,080 --> 00:03:58,440 Speaker 1: had it very tortually about swift. The rest of the 66 00:03:59,080 --> 00:04:01,880 Speaker 1: some of our europe In allies are not ready to 67 00:04:01,920 --> 00:04:05,560 Speaker 1: do that. I think they will before too long. And 68 00:04:05,680 --> 00:04:08,040 Speaker 1: doesn't all have to be done at once, because ultimately 69 00:04:08,120 --> 00:04:11,960 Speaker 1: the point, the point of all of this is that 70 00:04:12,320 --> 00:04:15,160 Speaker 1: it goes to the Russian economy. And none of these 71 00:04:15,200 --> 00:04:18,320 Speaker 1: sanctions are going to stopped for the current air strikes 72 00:04:18,680 --> 00:04:23,520 Speaker 1: that are going on in uh Ukraine right now. But 73 00:04:23,640 --> 00:04:25,479 Speaker 1: over time they're going to bring the people out in 74 00:04:25,520 --> 00:04:30,640 Speaker 1: the street. And that's where the real jeopardy that exists 75 00:04:30,800 --> 00:04:33,560 Speaker 1: for Putin. It's the street. And already the street is 76 00:04:33,600 --> 00:04:36,320 Speaker 1: in the is in the square mean his own street 77 00:04:36,400 --> 00:04:40,520 Speaker 1: in Russia. We saw a massive protest today, Congressman exactly 78 00:04:40,560 --> 00:04:43,480 Speaker 1: and that's that's where that's where the real that's where 79 00:04:43,480 --> 00:04:46,960 Speaker 1: putin risk is. It's not there's certainly a big risk 80 00:04:47,320 --> 00:04:50,640 Speaker 1: the Ukrainian army is going to strike back. There's going 81 00:04:50,720 --> 00:04:54,400 Speaker 1: to be a lot of Russian castle these certainly going 82 00:04:54,440 --> 00:04:57,480 Speaker 1: to be a lot of Ukrainian casualties. But the risk 83 00:04:57,800 --> 00:05:00,800 Speaker 1: that Putin has as a dictator, it's the street and 84 00:05:00,839 --> 00:05:03,320 Speaker 1: the street is the people are on the street, and 85 00:05:03,360 --> 00:05:07,320 Speaker 1: they're going to be more of them, particularly when the 86 00:05:07,320 --> 00:05:10,760 Speaker 1: sanctions began to bite into the economy. Well, that's the 87 00:05:10,960 --> 00:05:13,800 Speaker 1: President indicated, and I think he was he was alluding 88 00:05:13,839 --> 00:05:16,120 Speaker 1: to that congressman today that it would almost be a 89 00:05:16,839 --> 00:05:20,320 Speaker 1: slow drip, to slowly show the Russian people what we 90 00:05:20,320 --> 00:05:22,919 Speaker 1: were doing, so they could feel each layer and not 91 00:05:23,080 --> 00:05:25,080 Speaker 1: think that it was something else or be deterred by 92 00:05:25,120 --> 00:05:28,000 Speaker 1: some sort of propaganda. Is that what this is about. 93 00:05:28,080 --> 00:05:30,679 Speaker 1: This is more about reaction from the people, not trying 94 00:05:30,720 --> 00:05:33,560 Speaker 1: to stop Vladimir Putin in his tracks because suddenly he 95 00:05:33,600 --> 00:05:38,920 Speaker 1: has no money. Well, in fact, he does have a 96 00:05:39,120 --> 00:05:41,960 Speaker 1: significant bank account right now, but those bank accounts are 97 00:05:42,000 --> 00:05:46,400 Speaker 1: being shut down and and therein if if you're looking 98 00:05:46,440 --> 00:05:52,159 Speaker 1: at sanctions, it's the long term economic impact and these 99 00:05:52,160 --> 00:05:55,039 Speaker 1: sanctions not only go to the economy, they also go 100 00:05:55,160 --> 00:05:59,800 Speaker 1: to the military. Those tanks can't run forever, those are 101 00:06:00,000 --> 00:06:03,279 Speaker 1: planes won't fly forever. They're going to need to be repaired. 102 00:06:03,400 --> 00:06:05,240 Speaker 1: They're going to need parts and pieces. I think so 103 00:06:05,480 --> 00:06:08,600 Speaker 1: you just said a few moments ago, computer chips, things 104 00:06:08,600 --> 00:06:11,200 Speaker 1: that are critical are not made in Russia. You've got 105 00:06:11,440 --> 00:06:15,240 Speaker 1: he's got a supply chain program, a problem of great significance. 106 00:06:15,720 --> 00:06:19,040 Speaker 1: So we need to understand what the way in which 107 00:06:19,240 --> 00:06:23,440 Speaker 1: sanctions really work. And they say, if you're going to 108 00:06:23,520 --> 00:06:26,160 Speaker 1: go fast, fine, go along, but we're going to do 109 00:06:26,279 --> 00:06:28,640 Speaker 1: this together, and we've got to be together if they're 110 00:06:28,640 --> 00:06:30,560 Speaker 1: going to have any success at all. Well, speaking of 111 00:06:30,600 --> 00:06:33,680 Speaker 1: the team, Congressman, I understand that you just came back 112 00:06:33,720 --> 00:06:38,080 Speaker 1: from Europe. Where were you and what did you learn? Uh? 113 00:06:38,440 --> 00:06:43,240 Speaker 1: The NATO has many different pieces, but NATO is really 114 00:06:43,279 --> 00:06:47,160 Speaker 1: controlled by the parliaments of the countries of the thirty countries, 115 00:06:47,520 --> 00:06:50,560 Speaker 1: and so every six months or more often is necessary, 116 00:06:51,160 --> 00:06:56,120 Speaker 1: the NATO Parliamentary Assembly gets together and these are members 117 00:06:56,120 --> 00:07:00,800 Speaker 1: of the thirty nations parliaments. Uh. We got together in 118 00:07:00,880 --> 00:07:05,720 Speaker 1: Brussels on Sunday, Monday Tuesday and ended yesterday Wednesday. Uh. 119 00:07:06,080 --> 00:07:10,400 Speaker 1: It was a very important meeting and really quite different. 120 00:07:10,400 --> 00:07:12,440 Speaker 1: I've been to these on and off of the last 121 00:07:12,440 --> 00:07:15,160 Speaker 1: several years. Usually they just sit there and fight, grease 122 00:07:15,200 --> 00:07:17,680 Speaker 1: gets in the fight with Turkey, uh, and go round 123 00:07:17,680 --> 00:07:20,280 Speaker 1: and round, you go nowhere. But none of that happened. 124 00:07:20,320 --> 00:07:24,920 Speaker 1: What happened here it was solidarity. All of the parliamentary 125 00:07:25,120 --> 00:07:29,440 Speaker 1: parliamentary members were there, uh, and they all said the 126 00:07:29,480 --> 00:07:32,280 Speaker 1: same thing. We have got to work together. We need 127 00:07:32,320 --> 00:07:37,360 Speaker 1: to bolster our defensive posture, particularly in Eastern Europe. The 128 00:07:37,400 --> 00:07:43,080 Speaker 1: Baltic States were crying out for more equipment, more NATO presence, 129 00:07:43,120 --> 00:07:48,560 Speaker 1: and it was provided. So that's it's occurring, is that Prutin, 130 00:07:49,000 --> 00:07:53,520 Speaker 1: in his attack on Ukraine, has unified NATO and he's 131 00:07:53,600 --> 00:07:57,200 Speaker 1: also unified the European Union, which to my surprise, came 132 00:07:57,240 --> 00:08:00,560 Speaker 1: out Tuesday with this own set of sanctions. Actually add 133 00:08:00,560 --> 00:08:05,320 Speaker 1: of what the President talked about today. European Union can't 134 00:08:05,480 --> 00:08:08,040 Speaker 1: be on the price of milk alone sanctions, but they did, 135 00:08:08,360 --> 00:08:10,640 Speaker 1: they did agree on sanctions. We have seen some things 136 00:08:10,640 --> 00:08:13,040 Speaker 1: that we never expected we would see this week, Congressman, 137 00:08:13,040 --> 00:08:15,400 Speaker 1: And I'm just I wonder what your your worries are 138 00:08:15,440 --> 00:08:17,680 Speaker 1: about the thousands of American troops who are across the 139 00:08:17,680 --> 00:08:20,880 Speaker 1: border in countries like Poland, they are either going to 140 00:08:20,920 --> 00:08:24,360 Speaker 1: be managing a massive humanitarian crisis or may in fact 141 00:08:24,440 --> 00:08:26,720 Speaker 1: find themselves in harm's way. I know that we're not 142 00:08:26,800 --> 00:08:30,400 Speaker 1: aiming to do that, but that border may not be 143 00:08:30,480 --> 00:08:32,720 Speaker 1: a very friendly place in the next couple of days, 144 00:08:32,720 --> 00:08:35,800 Speaker 1: and we have committed to defend our NATO partners. How 145 00:08:35,920 --> 00:08:41,320 Speaker 1: dangerous is the Polish border right now for American troops? Well, 146 00:08:41,320 --> 00:08:44,560 Speaker 1: that's a question really for Prutent. Do you really want 147 00:08:44,559 --> 00:08:48,600 Speaker 1: to go after thirty NATO countries, including the United States? 148 00:08:49,120 --> 00:08:50,480 Speaker 1: Is that what you really want to do? Do you 149 00:08:50,480 --> 00:08:54,200 Speaker 1: want to attack any of those NATO countries? He's threatened 150 00:08:54,240 --> 00:08:56,720 Speaker 1: to do that. In fact, one of his demands was 151 00:08:56,800 --> 00:08:59,720 Speaker 1: the NATO, get out of stream, Europe, get out of 152 00:08:59,720 --> 00:09:05,520 Speaker 1: the get out of Poland, Um, Romania, and Bulgaria. That's 153 00:09:05,559 --> 00:09:07,280 Speaker 1: what he wanted. But he ain't going to get that. 154 00:09:07,760 --> 00:09:10,960 Speaker 1: What he's going to get instead is a very determined 155 00:09:11,559 --> 00:09:16,600 Speaker 1: thirty nation coalition called NATO in the Russian up on 156 00:09:16,679 --> 00:09:19,679 Speaker 1: the Russian border. So he steps across that border, he's 157 00:09:19,720 --> 00:09:22,960 Speaker 1: got himself a war. Like he you, none of us 158 00:09:22,960 --> 00:09:25,480 Speaker 1: want to imagine that that's why that is, That's why 159 00:09:25,520 --> 00:09:28,840 Speaker 1: those border countries and the presidence of the NATO troops 160 00:09:28,840 --> 00:09:33,360 Speaker 1: there is that that is, he will not go that way. 161 00:09:33,400 --> 00:09:36,960 Speaker 1: If he does what he won't, he won't. What does 162 00:09:37,000 --> 00:09:40,199 Speaker 1: that means that the entire weight of NATO will come 163 00:09:40,200 --> 00:09:43,959 Speaker 1: down on him. Listen to what Vladimir Putin said last 164 00:09:44,040 --> 00:09:48,520 Speaker 1: night in what was apparently a recorded address. Whoever tries 165 00:09:48,559 --> 00:09:50,800 Speaker 1: to interfere with us, and even more so to create 166 00:09:50,840 --> 00:09:53,439 Speaker 1: threats for our country are people should know that Russia's 167 00:09:53,480 --> 00:09:56,599 Speaker 1: response will be immediate and believes you to such consequences 168 00:09:56,600 --> 00:09:58,959 Speaker 1: that you have never experienced in your history. It was 169 00:09:59,040 --> 00:10:02,040 Speaker 1: asked today in the White House briefing, were the the 170 00:10:02,280 --> 00:10:05,000 Speaker 1: speech from the president? He did take some questions, Congressman, 171 00:10:05,440 --> 00:10:08,880 Speaker 1: if that meant a nuclear threat? Here's how the president 172 00:10:08,920 --> 00:10:13,440 Speaker 1: got is he threatening a nuclear strike? I have no 173 00:10:13,559 --> 00:10:16,920 Speaker 1: idea what he's threatening. I know what he has done. 174 00:10:17,320 --> 00:10:22,560 Speaker 1: Number one. Number two, no one expected the sanctions to 175 00:10:22,840 --> 00:10:26,920 Speaker 1: prevent anything from happening. It has to show. This gonna 176 00:10:26,920 --> 00:10:30,240 Speaker 1: take time and we have to show resolve. Congressman, do 177 00:10:30,320 --> 00:10:33,920 Speaker 1: you agree is this possibly a nuclear threat? Or is 178 00:10:33,960 --> 00:10:39,200 Speaker 1: it impossible to know what Vladimir Putin is planning. We 179 00:10:39,280 --> 00:10:44,280 Speaker 1: have known for more than a decade now that Russia 180 00:10:44,520 --> 00:10:50,880 Speaker 1: has threatened to use nuclear weapons to spot invasion into 181 00:10:50,960 --> 00:10:56,680 Speaker 1: Russia's exactly the same thing during the Cold War, to 182 00:10:56,760 --> 00:10:59,760 Speaker 1: say we will stop a Russian invasion of Western Europe. 183 00:11:00,160 --> 00:11:04,960 Speaker 1: This isn't those sit out there as the ultimate deterrent. 184 00:11:06,640 --> 00:11:09,320 Speaker 1: You take a look at this very very carefully, because 185 00:11:09,360 --> 00:11:13,760 Speaker 1: this is the most serious of all issues. Uh, And 186 00:11:13,920 --> 00:11:16,360 Speaker 1: that's why we do not want to get into a 187 00:11:16,400 --> 00:11:20,720 Speaker 1: situation where Russia and the United excuse me, Russia and 188 00:11:20,880 --> 00:11:27,720 Speaker 1: NATO get into a conflict, an armed conflict. Therefore, we 189 00:11:27,800 --> 00:11:31,440 Speaker 1: are making it very very clear that Russia is not 190 00:11:31,600 --> 00:11:35,640 Speaker 1: going to step into any natal country. They're not going 191 00:11:35,679 --> 00:11:38,800 Speaker 1: to invade any Natal country. That would then set off 192 00:11:38,800 --> 00:11:45,040 Speaker 1: the series of thee that we ordinarily Yeah, it could 193 00:11:45,360 --> 00:11:49,000 Speaker 1: end in the nuclear war. God for Congressman John Garamendi, 194 00:11:49,080 --> 00:11:52,840 Speaker 1: thanks for the insights, Congressman, the Armed Services Committee democrat 195 00:11:52,880 --> 00:11:56,200 Speaker 1: from California. Straight to you on sound on will assemble 196 00:11:56,240 --> 00:12:01,040 Speaker 1: the panel next. I'm Joe Matthew. This is Bloomberg. So 197 00:12:01,080 --> 00:12:04,600 Speaker 1: when you're at today, Russia started an invasion in Ukraine. 198 00:12:05,040 --> 00:12:08,079 Speaker 1: Putin started a war with Ukraine, with the democratic world. 199 00:12:08,400 --> 00:12:11,480 Speaker 1: He wants to destroy my country and our state, everything 200 00:12:11,480 --> 00:12:14,200 Speaker 1: that we have built, everything we live for. This is 201 00:12:14,240 --> 00:12:21,439 Speaker 1: a deliberate, cold blooded and long planned invasion. Despite its 202 00:12:21,679 --> 00:12:26,520 Speaker 1: litany of lies, the Niles and this information, the Creminin's 203 00:12:26,559 --> 00:12:30,080 Speaker 1: intentions are clear for the world to see. Presidents in 204 00:12:30,080 --> 00:12:34,679 Speaker 1: the Russia, there's unleashed war in our European continent. Our 205 00:12:34,760 --> 00:12:40,520 Speaker 1: mission is clear. You do not expect anyone to fight 206 00:12:40,600 --> 00:12:43,120 Speaker 1: for us, but we expect all the help and all 207 00:12:43,160 --> 00:12:49,240 Speaker 1: the response. The Western Center US make no mistakes. It's 208 00:12:49,280 --> 00:13:01,080 Speaker 1: a word against Ukraine. Voices of condemnation from around the world. 209 00:13:01,960 --> 00:13:05,200 Speaker 1: As Russia hits Ukrained by air and land. What appears 210 00:13:05,240 --> 00:13:09,560 Speaker 1: to be a campaign aimed at regime change, a complete takeover, 211 00:13:10,360 --> 00:13:12,640 Speaker 1: rather than a more limited incursion we were talking about 212 00:13:12,640 --> 00:13:16,280 Speaker 1: in the don bus No, this seems much bigger. Let's 213 00:13:16,280 --> 00:13:19,840 Speaker 1: assemble the panel for their view. We're joined by Bloomberg 214 00:13:19,880 --> 00:13:23,200 Speaker 1: Politics contributor Jeanie Chanzano and Lester Munson is with us 215 00:13:23,200 --> 00:13:25,920 Speaker 1: today principle at government relations firm b g R Group. 216 00:13:26,520 --> 00:13:30,079 Speaker 1: Former staff director of the Senate Foreign Relations Committee, Genie. 217 00:13:30,120 --> 00:13:33,760 Speaker 1: We were talking about the president earlier today before his address. 218 00:13:33,880 --> 00:13:37,240 Speaker 1: You've now heard from him. You saw he's been through 219 00:13:37,280 --> 00:13:39,560 Speaker 1: a lot less couple of days. He saw his body language, 220 00:13:39,559 --> 00:13:43,680 Speaker 1: you saw him joust with reporters. Did he say enough? 221 00:13:44,640 --> 00:13:46,880 Speaker 1: You know, I think he said everything he could, and 222 00:13:46,920 --> 00:13:49,920 Speaker 1: I think the representatives said it, well, um, you know, 223 00:13:50,040 --> 00:13:52,920 Speaker 1: we could go fast. He could, you know, put in 224 00:13:53,040 --> 00:13:55,439 Speaker 1: all of these sanctions that have been discussed, but we've 225 00:13:55,440 --> 00:13:57,720 Speaker 1: been in fact, have to do that alone and that 226 00:13:57,760 --> 00:14:00,640 Speaker 1: would defeat the purpose. So it's much better to do 227 00:14:00,679 --> 00:14:03,040 Speaker 1: it smarter, and that means going with our allies. So 228 00:14:03,160 --> 00:14:05,480 Speaker 1: some of the things that people wanted, like the removal 229 00:14:05,520 --> 00:14:08,520 Speaker 1: from Swift, haven't happened yet, but they very well could. 230 00:14:08,559 --> 00:14:11,680 Speaker 1: And I think a very very important sign is the 231 00:14:11,760 --> 00:14:14,440 Speaker 1: amount of Russians out on the street, at least as 232 00:14:14,440 --> 00:14:17,840 Speaker 1: far as reports were getting, who are taking exception to 233 00:14:17,960 --> 00:14:21,760 Speaker 1: what who is doing. That is exactly what these sanctions 234 00:14:21,800 --> 00:14:24,080 Speaker 1: are designed to do, and they've just been you know, 235 00:14:24,120 --> 00:14:26,120 Speaker 1: we're just starting to see them go into place right 236 00:14:26,120 --> 00:14:27,880 Speaker 1: now in the next few days. So that is a 237 00:14:27,920 --> 00:14:30,720 Speaker 1: positive sign for the West Lester. We heard from Congressman 238 00:14:30,800 --> 00:14:33,760 Speaker 1: John Garamendi a few moments ago who made the point 239 00:14:33,800 --> 00:14:36,240 Speaker 1: that Jennie is making that this comes down to what 240 00:14:36,360 --> 00:14:39,120 Speaker 1: happens in the street. We already saw thousands of people 241 00:14:39,680 --> 00:14:44,200 Speaker 1: protesting uh in St. Petersburg earlier today. I suspect there's 242 00:14:44,240 --> 00:14:46,840 Speaker 1: more where that came from. Is that the way this 243 00:14:46,920 --> 00:14:49,680 Speaker 1: is supposed to work. Instead of throwing everything that we 244 00:14:49,760 --> 00:14:52,360 Speaker 1: have in terms of sanctions, as most Republicans were calling 245 00:14:52,400 --> 00:14:55,400 Speaker 1: four weeks ago, you do the steady drip, one layer 246 00:14:55,440 --> 00:15:00,480 Speaker 1: at a time so the people can feel it. Well. Uh, 247 00:15:00,520 --> 00:15:04,440 Speaker 1: I have I have a lot of thoughts on this issue. Um, 248 00:15:04,480 --> 00:15:06,840 Speaker 1: I'm not sure the protests on the street, as much 249 00:15:06,840 --> 00:15:10,160 Speaker 1: as I admire the courage and just the sheer guts 250 00:15:10,200 --> 00:15:11,840 Speaker 1: of the people who are doing that, are going to 251 00:15:11,920 --> 00:15:15,240 Speaker 1: be this positive share. I mean, we saw similar protests 252 00:15:15,840 --> 00:15:21,120 Speaker 1: in Belarus over slightly different circumstances recently. Those did not 253 00:15:21,200 --> 00:15:25,000 Speaker 1: amount to any real change in policy. Arguably things got 254 00:15:25,000 --> 00:15:28,560 Speaker 1: worse after the protests happened. So I'm not sure that's 255 00:15:28,760 --> 00:15:32,920 Speaker 1: the answer in terms of staging out sanctions. I think 256 00:15:32,960 --> 00:15:36,000 Speaker 1: that the explanation for what's happening. But the reality is 257 00:15:36,120 --> 00:15:39,680 Speaker 1: our European allies are not with us on a tough 258 00:15:39,760 --> 00:15:44,320 Speaker 1: approach to Russia. That has to change. I suspect that 259 00:15:44,400 --> 00:15:47,240 Speaker 1: if this invasion goes the way it seems it's going 260 00:15:47,280 --> 00:15:50,960 Speaker 1: to go, which is, um, you know, I hate to 261 00:15:51,000 --> 00:15:54,360 Speaker 1: say it a win for Russia over Ukraine, then we 262 00:15:54,400 --> 00:15:58,200 Speaker 1: are going to need to rethink our relationships in Western Europe. 263 00:15:58,240 --> 00:16:00,560 Speaker 1: We're going to need to buttress them. We're going to 264 00:16:00,640 --> 00:16:03,400 Speaker 1: need to think about NATO differently. Are you talking about 265 00:16:03,480 --> 00:16:06,640 Speaker 1: swift here, Lester, Because a lot of people were ecstatic 266 00:16:06,720 --> 00:16:09,800 Speaker 1: yesterday when all Off Schultz, for instance, said there would 267 00:16:09,800 --> 00:16:13,280 Speaker 1: be no certification for nord Stream to therefore not operational 268 00:16:13,320 --> 00:16:16,160 Speaker 1: that in fact NATO was on the same page. Where's 269 00:16:16,240 --> 00:16:20,360 Speaker 1: where's the fallout? Yeah, and that's and that's the nord 270 00:16:20,400 --> 00:16:24,120 Speaker 1: Stream two thing is certainly good. But the sanctions so 271 00:16:24,160 --> 00:16:28,560 Speaker 1: far that we've seen, granted it's early, but the sanctions 272 00:16:28,600 --> 00:16:31,520 Speaker 1: that we have seen so far from uh, the United 273 00:16:31,520 --> 00:16:35,040 Speaker 1: States and our allies are not even at the level 274 00:16:35,120 --> 00:16:37,400 Speaker 1: that they were for Iran when we were trying to 275 00:16:37,400 --> 00:16:40,760 Speaker 1: contain their nuclear weapons program. So le'll just we'll just 276 00:16:40,800 --> 00:16:44,280 Speaker 1: be clear so far the sanctions, and I believe me 277 00:16:44,320 --> 00:16:47,359 Speaker 1: on a person who thinks we need to have bipartisan 278 00:16:47,400 --> 00:16:50,240 Speaker 1: support for the president now when we're in a in 279 00:16:50,280 --> 00:16:52,680 Speaker 1: a time of crisis, and that is that is very true. 280 00:16:52,800 --> 00:16:55,280 Speaker 1: At the same time, we need to see much more 281 00:16:56,440 --> 00:16:58,480 Speaker 1: if for sanctions to be effective at all, they're going 282 00:16:58,520 --> 00:17:00,880 Speaker 1: to have to be much more severe, Jenie. We heard 283 00:17:00,880 --> 00:17:03,800 Speaker 1: from the President today as he was asked about Swift 284 00:17:03,840 --> 00:17:08,200 Speaker 1: repeatedly and why that was apparently off the table. Listen 285 00:17:08,200 --> 00:17:10,679 Speaker 1: to the way he answered the questions, specifically, with the 286 00:17:10,760 --> 00:17:15,080 Speaker 1: sanctions we've imposed exceeded Swift. The sanctions we opposed exceed 287 00:17:15,119 --> 00:17:18,280 Speaker 1: anything that's ever been done. The sanctions we imposed have 288 00:17:18,680 --> 00:17:21,720 Speaker 1: generated two thirds of the world joining us. They are 289 00:17:21,840 --> 00:17:26,200 Speaker 1: profound sanctions. Let's have a conversation and another month or 290 00:17:26,240 --> 00:17:28,439 Speaker 1: so to see if they're working. A month or so, 291 00:17:28,600 --> 00:17:32,680 Speaker 1: get yeah, And I thought that that was a problematic 292 00:17:32,720 --> 00:17:35,919 Speaker 1: actually response to those questions because the questions asked by 293 00:17:35,960 --> 00:17:38,399 Speaker 1: the reporters there were fair. Why didn't you go with 294 00:17:38,480 --> 00:17:40,719 Speaker 1: swift um? I think he should have answered the way 295 00:17:40,760 --> 00:17:43,840 Speaker 1: the representative did because we didn't have the allied support 296 00:17:43,840 --> 00:17:46,119 Speaker 1: we needed. I understand why he doesn't want to publicize that, 297 00:17:46,600 --> 00:17:49,119 Speaker 1: but he did, to be fair say earlier that you know, 298 00:17:49,160 --> 00:17:51,800 Speaker 1: the Europeans just weren't ready for that right now. But 299 00:17:51,920 --> 00:17:54,280 Speaker 1: we've done even more than swift to suggest, though, that 300 00:17:54,280 --> 00:17:56,680 Speaker 1: we're gonna wait a month or so uh to see 301 00:17:56,720 --> 00:17:58,400 Speaker 1: if this is working. I thought we were checking back 302 00:17:58,440 --> 00:18:01,600 Speaker 1: every hour. Well, I think the question to be asked 303 00:18:01,680 --> 00:18:03,919 Speaker 1: is what does he mean by working. We are beyond 304 00:18:03,960 --> 00:18:08,160 Speaker 1: the point of changing Putin's behavior ourselves via sanctions. These 305 00:18:08,200 --> 00:18:10,840 Speaker 1: sanctions are about imposing cost on him and pain on 306 00:18:10,880 --> 00:18:14,240 Speaker 1: the Russian people, quite frankly, and the oligarchs. They're not 307 00:18:14,320 --> 00:18:17,520 Speaker 1: about changing his behavior. The route to changing his behavior 308 00:18:17,560 --> 00:18:19,000 Speaker 1: are going to be those people on the ground, the 309 00:18:19,040 --> 00:18:22,000 Speaker 1: oligarchs around him. Now chill Lester's point that may re 310 00:18:22,040 --> 00:18:24,720 Speaker 1: assemble the panel in just a moment with Genie and Lester. 311 00:18:24,880 --> 00:18:28,040 Speaker 1: This is Bloomberg on an historic day in politics. This 312 00:18:28,080 --> 00:18:31,440 Speaker 1: is Bloomberg. Sound on. I'm Joe Matthew in Washington. Will 313 00:18:31,480 --> 00:18:33,399 Speaker 1: have more from the panel a little bit later on. 314 00:18:33,440 --> 00:18:36,960 Speaker 1: As we turned out of the matter of energy, something 315 00:18:37,000 --> 00:18:41,080 Speaker 1: the President got to today acknowledging that sanctions placed on 316 00:18:41,160 --> 00:18:44,359 Speaker 1: Russia will mean higher energy prices, certainly for Europe and 317 00:18:44,520 --> 00:18:47,480 Speaker 1: yes here as well in the US, which is why 318 00:18:47,840 --> 00:18:50,960 Speaker 1: some alternate plans are being made. We've been coordinating with 319 00:18:51,080 --> 00:18:55,280 Speaker 1: major oil producing and consuming countries toward our common interest 320 00:18:55,359 --> 00:18:59,919 Speaker 1: to secure global energy supplies. We're actively working with countries 321 00:19:00,040 --> 00:19:03,399 Speaker 1: around the world to elevate collective release from the strategic 322 00:19:03,440 --> 00:19:07,760 Speaker 1: patrolling reserves of major energy consuming countries, and the United 323 00:19:07,800 --> 00:19:11,679 Speaker 1: States will release additional barrels of oil as conditions warrant. 324 00:19:11,720 --> 00:19:16,879 Speaker 1: So another SPR, maybe several more SPR releases are coming. 325 00:19:17,440 --> 00:19:19,280 Speaker 1: We're joined to talk about all of it. By Neil 326 00:19:19,359 --> 00:19:21,959 Speaker 1: chatter Gee. This is a story that will continue to develop. 327 00:19:22,000 --> 00:19:25,280 Speaker 1: Neil's a specialist, former commissioner and Shair of the Federal 328 00:19:25,359 --> 00:19:29,640 Speaker 1: Energy Regulatory Commission, senior advisor at Hogan's levels. Neil, it's 329 00:19:29,680 --> 00:19:31,639 Speaker 1: great to have you with us here. We saw triple 330 00:19:31,680 --> 00:19:35,000 Speaker 1: digit oil today. How how is it going to go? Look, 331 00:19:35,040 --> 00:19:37,399 Speaker 1: I'm not going to make projections on how high it 332 00:19:37,520 --> 00:19:41,680 Speaker 1: may go. What I found interesting about the President's remarks 333 00:19:41,960 --> 00:19:45,640 Speaker 1: is that he's calling upon our international allies to increase 334 00:19:45,720 --> 00:19:48,840 Speaker 1: production at a time where, particularly when it comes to 335 00:19:48,920 --> 00:19:55,240 Speaker 1: natural gas, the US is a global gas superpower. The 336 00:19:55,400 --> 00:20:00,199 Speaker 1: problem is our domestic politics and policy are preventing us 337 00:20:00,240 --> 00:20:05,159 Speaker 1: from even accessing the resources that are allies so desperately 338 00:20:05,240 --> 00:20:08,760 Speaker 1: need today, and so I wish we weren't in this 339 00:20:08,920 --> 00:20:12,199 Speaker 1: situation where we're speculating about how high prices may go 340 00:20:12,800 --> 00:20:14,960 Speaker 1: when we've got it here. We've talked a lot on 341 00:20:14,960 --> 00:20:18,560 Speaker 1: this program about the lack of investments here that in 342 00:20:18,880 --> 00:20:22,919 Speaker 1: the policies that you're describing here, Neil, but here we 343 00:20:22,960 --> 00:20:26,280 Speaker 1: are well. Releasing more oil from the spr make a 344 00:20:26,320 --> 00:20:31,960 Speaker 1: difference or is that just a verbial drop in the barrel? Again, 345 00:20:32,040 --> 00:20:34,439 Speaker 1: when it comes to oil, what we've seen in the 346 00:20:34,480 --> 00:20:38,240 Speaker 1: past is that these releases have not made much of 347 00:20:38,280 --> 00:20:41,760 Speaker 1: an impact. I am skeptical of some of the other 348 00:20:42,160 --> 00:20:46,040 Speaker 1: solutions that are being put out there, like suspending the 349 00:20:46,160 --> 00:20:49,760 Speaker 1: gas tax, which would have very little impact on the 350 00:20:49,800 --> 00:20:53,879 Speaker 1: price at the pump, but potentially catastrophic impacts on our 351 00:20:53,920 --> 00:20:57,520 Speaker 1: ability to invest in domestic infrastructure. What we need to 352 00:20:57,560 --> 00:21:01,960 Speaker 1: do is remove obstacles to building out the infrastructure we 353 00:21:02,800 --> 00:21:09,240 Speaker 1: that it's required here domestically to get US resources, US gas, 354 00:21:09,440 --> 00:21:12,200 Speaker 1: US clean, U s l m G to bail out 355 00:21:12,200 --> 00:21:15,600 Speaker 1: our allies. That's a long term project, though right would 356 00:21:15,640 --> 00:21:18,560 Speaker 1: would just the prospect of that drilling be enough to 357 00:21:18,760 --> 00:21:23,560 Speaker 1: impact market prices. It's frustrating that we've gotten to this point. 358 00:21:23,720 --> 00:21:27,240 Speaker 1: During my tenure heading the Federal Energy Regulatory Commission, we 359 00:21:27,320 --> 00:21:32,760 Speaker 1: approved a number of applications for US elergy export facilities. Uh. 360 00:21:32,800 --> 00:21:35,639 Speaker 1: It is confounding to me that a number of these 361 00:21:35,720 --> 00:21:39,119 Speaker 1: applications that are ready to go are being sat on 362 00:21:39,720 --> 00:21:43,400 Speaker 1: at the Department of Energy today, and my former colleagues 363 00:21:43,480 --> 00:21:48,320 Speaker 1: at FIRK just last week, in unfathomable timing to me, 364 00:21:48,840 --> 00:21:51,840 Speaker 1: took steps to make it even harder to cite necessary 365 00:21:51,840 --> 00:21:54,879 Speaker 1: infrastructure in the country. This is something we should have 366 00:21:54,880 --> 00:21:58,800 Speaker 1: been working towards for years. UH. And it's very, very 367 00:21:58,880 --> 00:22:02,080 Speaker 1: concerning that we've even gotten to this point. When you 368 00:22:02,160 --> 00:22:05,119 Speaker 1: hear from our allies like Italy, for instance, Mario Draggy 369 00:22:05,600 --> 00:22:08,920 Speaker 1: was suggesting that we find something sustainable because they're worried 370 00:22:08,920 --> 00:22:12,760 Speaker 1: about losing a third of their energy. Uh. Neil. When 371 00:22:12,760 --> 00:22:16,159 Speaker 1: you see the a mirror of Katar in the Oval office, 372 00:22:16,280 --> 00:22:20,399 Speaker 1: when you hear about Joe Biden seeking alternate sources of gas, 373 00:22:21,280 --> 00:22:24,080 Speaker 1: I realized that you're not a fan of the policies 374 00:22:24,200 --> 00:22:26,159 Speaker 1: that you say brought us here. But in terms of 375 00:22:26,200 --> 00:22:30,000 Speaker 1: finding solutions now, are there alternate sources we can count 376 00:22:30,080 --> 00:22:35,040 Speaker 1: on or do they not exist? So they're they're they're costly, 377 00:22:35,600 --> 00:22:40,240 Speaker 1: and they will subject our European allies to real concerns 378 00:22:40,320 --> 00:22:43,560 Speaker 1: around not just affordability, I think you're going to see 379 00:22:43,920 --> 00:22:49,840 Speaker 1: prices skyrocket, but also reliability. Increasingly natural gas is used 380 00:22:49,920 --> 00:22:53,760 Speaker 1: not just you know, for heating, but for for electricity delivery, 381 00:22:54,400 --> 00:22:57,960 Speaker 1: and and and it's it's a real issue, and it's 382 00:22:58,240 --> 00:23:01,080 Speaker 1: it's a shame that we've gotten to this point. Um. 383 00:23:01,119 --> 00:23:03,680 Speaker 1: And there aren't great answers because we found ourselves in 384 00:23:03,680 --> 00:23:08,119 Speaker 1: a situation where our European allies are wholly dependent on 385 00:23:08,240 --> 00:23:14,480 Speaker 1: Russian gas and the absence of alternatives. Threats like Germany's 386 00:23:14,600 --> 00:23:19,240 Speaker 1: UH posturing that they're going to not certificate Nordstream too, 387 00:23:19,840 --> 00:23:22,239 Speaker 1: I just don't buy it. And I think Putin is 388 00:23:22,280 --> 00:23:27,280 Speaker 1: acting in a highly intentional way because he knows he 389 00:23:27,359 --> 00:23:32,080 Speaker 1: has leverage, and his leverage comes from his energy dominance 390 00:23:32,280 --> 00:23:35,000 Speaker 1: over our European all Well, it's the late John McCain 391 00:23:35,080 --> 00:23:37,919 Speaker 1: said it's a country masquerading, or a gas station masquerading 392 00:23:37,920 --> 00:23:40,440 Speaker 1: as a country. Whether he was right, it sounds more 393 00:23:40,480 --> 00:23:43,800 Speaker 1: true than ever. Our sanctions hit mainly the banks today 394 00:23:43,920 --> 00:23:46,200 Speaker 1: a couple of oligarchs. Do we need to go after 395 00:23:46,320 --> 00:23:49,679 Speaker 1: Russia's energy sector or does that ricochet back on the US? 396 00:23:50,840 --> 00:23:53,240 Speaker 1: I mean that there in lies the challenge. I mean 397 00:23:53,280 --> 00:23:57,720 Speaker 1: if Germany was really serious about hurting Putin and hurting 398 00:23:57,760 --> 00:24:02,200 Speaker 1: Russia instead of posturing about not certificating nord Stream two, 399 00:24:02,600 --> 00:24:06,080 Speaker 1: they'd shut down nord Stream one. But they can't. That's 400 00:24:06,119 --> 00:24:11,560 Speaker 1: not a realistic option because of the dependence on Russian gas, 401 00:24:11,960 --> 00:24:14,560 Speaker 1: and it's just a shame that the United States is 402 00:24:14,600 --> 00:24:17,800 Speaker 1: not in a position to fill that void right now 403 00:24:17,840 --> 00:24:20,720 Speaker 1: to help our allies because of decisions that we have 404 00:24:20,800 --> 00:24:24,720 Speaker 1: made domestically. Neil chatter Je, Senior Advisor Hogan Levels, the 405 00:24:24,760 --> 00:24:28,080 Speaker 1: former Commissioner Chair of the Federal Energy Regulatory Commission. Neil, 406 00:24:28,119 --> 00:24:31,200 Speaker 1: I thank you for the insights and want to reassemble 407 00:24:31,240 --> 00:24:33,119 Speaker 1: the panel for their take on this. We're going to 408 00:24:33,200 --> 00:24:35,959 Speaker 1: talk in a moment, by the way, military strategy with 409 00:24:36,040 --> 00:24:39,840 Speaker 1: retired Air Force General David Deptula. Let's hear first though, 410 00:24:39,840 --> 00:24:43,960 Speaker 1: from Bloomberg Politics contributor Geanie Schanzano and Lester Munson from 411 00:24:43,960 --> 00:24:48,520 Speaker 1: b GR Group. Lester, I think you share a similar 412 00:24:48,800 --> 00:24:53,000 Speaker 1: opinion to Kneel here that these policies are in fact 413 00:24:53,040 --> 00:24:55,200 Speaker 1: what brought us to this point? Is it as simple 414 00:24:55,200 --> 00:25:00,760 Speaker 1: as that? Uh, Well, the United States has made a 415 00:25:00,800 --> 00:25:04,639 Speaker 1: policy decision under the Biden administration to for a close 416 00:25:04,880 --> 00:25:07,560 Speaker 1: certain options in the energy sector, and there are there 417 00:25:07,560 --> 00:25:12,119 Speaker 1: are costs to those decisions. Now we may decide that 418 00:25:12,160 --> 00:25:14,359 Speaker 1: the benefits are better than the costs. I mean, frankly, 419 00:25:14,400 --> 00:25:18,000 Speaker 1: I don't think so. But clearly the administration does ms 420 00:25:18,480 --> 00:25:21,639 Speaker 1: able to in terms of climates exactly, they ought to 421 00:25:21,640 --> 00:25:24,080 Speaker 1: be able to articulate why they have made a decision 422 00:25:24,119 --> 00:25:28,960 Speaker 1: to prioritize the climate over energy security in Europe, which 423 00:25:29,040 --> 00:25:32,240 Speaker 1: leads to Russia invading Ukraine. If they can successfully do that, 424 00:25:32,600 --> 00:25:35,440 Speaker 1: good for them. That is a long term question, uh, 425 00:25:35,480 --> 00:25:37,840 Speaker 1: and I think it's something that our political system is 426 00:25:37,880 --> 00:25:40,840 Speaker 1: designed to hash out. My suspect will be a pretty 427 00:25:40,840 --> 00:25:44,200 Speaker 1: clear result in November and then two years after that. 428 00:25:44,680 --> 00:25:46,919 Speaker 1: But in the meantime, you know, we should do what 429 00:25:46,960 --> 00:25:49,040 Speaker 1: we can to support the president at the time of crisis. 430 00:25:49,080 --> 00:25:50,920 Speaker 1: But this longer term issue really should be a d 431 00:25:51,320 --> 00:25:53,159 Speaker 1: It is a long term issue, genie, as the President 432 00:25:53,160 --> 00:25:55,160 Speaker 1: painted himself into a corner here. I mean, there are 433 00:25:55,200 --> 00:25:56,800 Speaker 1: not a lot of options right now when it comes 434 00:25:56,800 --> 00:25:59,480 Speaker 1: to energy, there aren't a lot of options, and I 435 00:25:59,520 --> 00:26:01,479 Speaker 1: think this is one of the things that is going 436 00:26:01,480 --> 00:26:04,239 Speaker 1: to be a huge challenge for the Biden administration. I mean, 437 00:26:04,280 --> 00:26:06,440 Speaker 1: you go right back to one of the first actions 438 00:26:06,440 --> 00:26:08,640 Speaker 1: he took when he got into office was the Keystone 439 00:26:08,720 --> 00:26:12,080 Speaker 1: Pipeline um and he has found himself caught to a 440 00:26:12,119 --> 00:26:15,560 Speaker 1: certain extent, willingly or not, between the progressive left and 441 00:26:15,560 --> 00:26:18,600 Speaker 1: the environmentalists and the more moderates. And it gets more 442 00:26:18,680 --> 00:26:22,520 Speaker 1: serious as we are now enmeshed in in this crisis 443 00:26:22,560 --> 00:26:25,919 Speaker 1: involving the Ukraine and energy prices are threatening to go 444 00:26:26,040 --> 00:26:29,400 Speaker 1: sky high. And your conversation with Neil is just very, 445 00:26:29,480 --> 00:26:32,600 Speaker 1: very sobering, because you know, what he said essentially was 446 00:26:32,640 --> 00:26:35,240 Speaker 1: that prices are going to skyrocket and there's very little 447 00:26:35,280 --> 00:26:38,199 Speaker 1: solutions that are in the offing right now. We're certainly 448 00:26:38,200 --> 00:26:41,400 Speaker 1: not going to address the political challenges he's talking about, unfortunately. 449 00:26:41,600 --> 00:26:43,600 Speaker 1: So how do you manage both, Genie? If you support 450 00:26:43,680 --> 00:26:47,439 Speaker 1: the Biden administration's policies and the Democratic parties policies of 451 00:26:47,520 --> 00:26:51,040 Speaker 1: transitioning to renewable energy, you want to see people in 452 00:26:51,119 --> 00:26:53,520 Speaker 1: e vis, you want to see windmills, you want to 453 00:26:53,560 --> 00:26:56,080 Speaker 1: see solar. All of these things come together to lower 454 00:26:56,119 --> 00:26:59,840 Speaker 1: our reliance on oil. But there's also a national security 455 00:26:59,840 --> 00:27:02,480 Speaker 1: of aplication. Is the Energy Department need to be handling 456 00:27:02,520 --> 00:27:06,040 Speaker 1: this in tandem? They do, and that's something that we 457 00:27:06,119 --> 00:27:08,000 Speaker 1: have never as a nation. I mean, forget about the 458 00:27:08,000 --> 00:27:11,000 Speaker 1: Biden administration or Democrats wrapped our heads around as a 459 00:27:11,080 --> 00:27:15,160 Speaker 1: nation politically. The need to balance those competing claims. I mean, 460 00:27:15,200 --> 00:27:17,399 Speaker 1: you can't go to one side or the other. You 461 00:27:17,480 --> 00:27:19,959 Speaker 1: have to balance those we you know, it is an 462 00:27:20,440 --> 00:27:23,440 Speaker 1: existential crisis in terms of what we're facing with climate 463 00:27:23,480 --> 00:27:27,200 Speaker 1: and the environment. It's serious problem. And yet we also 464 00:27:27,240 --> 00:27:29,960 Speaker 1: have to balance the national security on the other hand, 465 00:27:30,240 --> 00:27:33,280 Speaker 1: and that's something that Joe Biden is well situated to 466 00:27:33,359 --> 00:27:35,000 Speaker 1: start to do. But it's not going to be in 467 00:27:35,040 --> 00:27:37,680 Speaker 1: the short term. It's certainly not going to be done 468 00:27:37,920 --> 00:27:40,840 Speaker 1: in the in time right now, as as these prices 469 00:27:40,880 --> 00:27:43,280 Speaker 1: go higher, Lester, before we talk to the General, is 470 00:27:43,280 --> 00:27:45,879 Speaker 1: it wise to do another spr release or is it 471 00:27:45,920 --> 00:27:50,199 Speaker 1: a waste of oil? Frankly, I personally think it's a 472 00:27:50,200 --> 00:27:53,080 Speaker 1: waste of oil. We should save it for you know, 473 00:27:53,320 --> 00:27:56,080 Speaker 1: something that's a that's a real crisis. This is something 474 00:27:56,119 --> 00:27:59,240 Speaker 1: I think we can manage on a more data day basis. 475 00:28:00,280 --> 00:28:02,360 Speaker 1: All right, Lester and Genie will be back with us 476 00:28:02,440 --> 00:28:05,080 Speaker 1: in a moment. As we turn now to the General 477 00:28:05,119 --> 00:28:08,879 Speaker 1: and a conversation about strategy with what we've seen in 478 00:28:08,960 --> 00:28:12,359 Speaker 1: the skies, specifically over Ukraine over the past twenty four hours. 479 00:28:12,840 --> 00:28:17,280 Speaker 1: We are joined here by an expert with the headline 480 00:28:17,280 --> 00:28:20,840 Speaker 1: on the terminal. Russia hits Ukraine by air and land 481 00:28:21,520 --> 00:28:25,800 Speaker 1: in a bid to grab quick victory. We saw missile attacks, 482 00:28:25,840 --> 00:28:29,359 Speaker 1: We saw attack helicopters. We also saw fighter jets in 483 00:28:29,400 --> 00:28:33,240 Speaker 1: the skies over Ukraine today. Air superiority or is it 484 00:28:33,320 --> 00:28:37,000 Speaker 1: air supremacy? This is the conversation that we want to 485 00:28:37,000 --> 00:28:40,600 Speaker 1: have with retired General David Deptola, retired Lieutenant General in 486 00:28:40,640 --> 00:28:44,640 Speaker 1: the Air Force, Dean of the Mitchell Institute for Aerospace Studies. General, 487 00:28:44,720 --> 00:28:46,920 Speaker 1: it's great to have you back. I wonder your thought 488 00:28:46,960 --> 00:28:49,560 Speaker 1: on this. There's only so much you can do by air. 489 00:28:50,240 --> 00:28:54,040 Speaker 1: Are we already getting to the end of the air 490 00:28:54,080 --> 00:28:57,640 Speaker 1: component here with Russia before we see more troops on 491 00:28:57,680 --> 00:29:01,920 Speaker 1: the ground. What's happening as we speak, Well, first, thanks 492 00:29:01,960 --> 00:29:04,760 Speaker 1: for having me on. Second, No, you haven't seen the 493 00:29:04,880 --> 00:29:08,920 Speaker 1: end of air UM. Air will participate on both sides 494 00:29:09,000 --> 00:29:13,160 Speaker 1: throughout the entire Operation UM which you saw is as 495 00:29:13,200 --> 00:29:18,480 Speaker 1: you introduced to your audience, over a hundred missile launches 496 00:29:18,640 --> 00:29:23,800 Speaker 1: were accomplished yesterday as well as air attacks and involved 497 00:29:23,840 --> 00:29:28,240 Speaker 1: about seventy five Russian fixed wing aircraft UH that involved 498 00:29:28,240 --> 00:29:34,560 Speaker 1: the bombers. The targets UM were air fields, airports, commanding control, 499 00:29:34,880 --> 00:29:39,320 Speaker 1: and leadership targets and these will continue to be part 500 00:29:39,360 --> 00:29:44,280 Speaker 1: of the targeting scheme of the Russians as this operation continues. 501 00:29:44,840 --> 00:29:51,040 Speaker 1: But depending upon what Putin's and his UH military subjectives are, 502 00:29:51,200 --> 00:29:55,640 Speaker 1: which is still not completely clear. Um, you'll continue to 503 00:29:55,680 --> 00:30:01,320 Speaker 1: see air operations in conjunction with ground opera rations through 504 00:30:01,400 --> 00:30:04,280 Speaker 1: the end of the military operation. What kind of an 505 00:30:04,320 --> 00:30:06,480 Speaker 1: air force does Ukraine have? Will there be any left 506 00:30:06,560 --> 00:30:10,880 Speaker 1: by the time Putin's done? Um? Again, that depends on 507 00:30:10,920 --> 00:30:16,320 Speaker 1: the effectiveness of the Russian campaign. Um. They have attempted 508 00:30:16,360 --> 00:30:20,760 Speaker 1: to target Ukrainian aircraft on the ground. Uh. You know, 509 00:30:20,800 --> 00:30:23,600 Speaker 1: it's pretty early at this time to do an assessment. 510 00:30:24,040 --> 00:30:28,440 Speaker 1: First assessments or first reports are always wrong. Uh. You 511 00:30:28,480 --> 00:30:31,720 Speaker 1: have to wait for that actual results to come in 512 00:30:31,800 --> 00:30:36,040 Speaker 1: before you do an analysis. But the Ukrainians will fight, 513 00:30:36,160 --> 00:30:40,240 Speaker 1: They'll fight hard. But you know, facing the array of 514 00:30:40,280 --> 00:30:44,320 Speaker 1: forces that the Russians have there at a significant disadvantage. 515 00:30:44,680 --> 00:30:48,360 Speaker 1: Are they flying MiGs or US made jets? Yeah? I 516 00:30:48,360 --> 00:30:52,840 Speaker 1: know they're flying Russian made jets, principally MiG twenty nine 517 00:30:54,000 --> 00:30:57,760 Speaker 1: against some of the Russians more advanced aircraft. A matter 518 00:30:57,800 --> 00:31:01,480 Speaker 1: of fact, Um, you know they're they're was until I 519 00:31:01,480 --> 00:31:07,200 Speaker 1: mean there was a major Soviet aircraft production plant in Ukraine, 520 00:31:07,640 --> 00:31:11,840 Speaker 1: so they are operating Russian aircraft. I wonder, general, I 521 00:31:11,840 --> 00:31:13,840 Speaker 1: know that that we're not putting troops on the ground, 522 00:31:14,200 --> 00:31:16,440 Speaker 1: God forbid. This is something the President has been very 523 00:31:16,440 --> 00:31:21,000 Speaker 1: consistent about unless something we can't imagine happening transpires. Is 524 00:31:21,040 --> 00:31:23,240 Speaker 1: there anything we can do by air though that would 525 00:31:23,240 --> 00:31:26,120 Speaker 1: not be considered an active war, whether it's providing surveillance 526 00:31:26,240 --> 00:31:29,600 Speaker 1: or or something I'm not thinking of. Well, no, you 527 00:31:29,720 --> 00:31:34,560 Speaker 1: just mentioned something in the United States through it's very 528 00:31:34,680 --> 00:31:41,560 Speaker 1: robust intelligence, surveillance and reconnaissance architecture using a variety of 529 00:31:41,640 --> 00:31:46,360 Speaker 1: different kinds of aircraft as well as spacecraft, can collect 530 00:31:46,440 --> 00:31:52,040 Speaker 1: information it's of critical importance to the Ukrainians and share them, uh, 531 00:31:52,400 --> 00:31:55,600 Speaker 1: share that information with them. The Global Hawk, which I 532 00:31:55,600 --> 00:31:58,000 Speaker 1: think your audience is familiar with, but if they're not, 533 00:31:58,120 --> 00:32:02,120 Speaker 1: it's a remotely piloted aircraft flies at high altitude. The 534 00:32:02,240 --> 00:32:08,440 Speaker 1: Rivet Joint r C one collect communications and uh electronic 535 00:32:08,520 --> 00:32:12,800 Speaker 1: intelligence uh J stars. There are a variety of different 536 00:32:12,840 --> 00:32:16,520 Speaker 1: aircraft that are collecting information and they're not in danger 537 00:32:16,640 --> 00:32:19,400 Speaker 1: in that airspace. General, whether the Russians won't shoot down 538 00:32:19,400 --> 00:32:22,040 Speaker 1: one of our a wax well, they don't have to 539 00:32:22,080 --> 00:32:25,120 Speaker 1: be directly in the combat airspace to in order to 540 00:32:25,160 --> 00:32:30,200 Speaker 1: collect information that's useful on Russian positions and movements and 541 00:32:30,240 --> 00:32:33,040 Speaker 1: share that with the Ukrainians. We're lucky to be joined 542 00:32:33,080 --> 00:32:36,360 Speaker 1: by General David dep Toola. General. How about anti aircraft 543 00:32:36,360 --> 00:32:38,800 Speaker 1: weaponry that Ukraine has been begging for. I know that 544 00:32:38,840 --> 00:32:41,840 Speaker 1: we've given them Javelin missiles and so forth. Do they 545 00:32:41,880 --> 00:32:46,160 Speaker 1: need more? Um, Yeah, they can use whatever that they 546 00:32:46,200 --> 00:32:51,760 Speaker 1: can accept. Um. They are looking particularly for Stinger missiles, 547 00:32:51,800 --> 00:32:55,920 Speaker 1: which engage aircraft that are close to the ground. Um. 548 00:32:55,960 --> 00:33:01,120 Speaker 1: They do have a series of capable rush in uh 549 00:33:01,280 --> 00:33:04,280 Speaker 1: surface to air missile systems. But part of the problem, 550 00:33:04,320 --> 00:33:06,240 Speaker 1: and I don't want to get too complex here, but 551 00:33:06,480 --> 00:33:09,760 Speaker 1: is in the what we call the kill chain, identification, 552 00:33:09,920 --> 00:33:13,520 Speaker 1: command and control in an engagement of those weapons systems, 553 00:33:14,320 --> 00:33:17,000 Speaker 1: the kill chain. This is why you have a general 554 00:33:17,080 --> 00:33:21,120 Speaker 1: on at times like these. What happens next? General, not 555 00:33:21,240 --> 00:33:22,880 Speaker 1: so much in the air, but on the ground. Are 556 00:33:22,880 --> 00:33:27,880 Speaker 1: we going to see a massive influx of troops in Ukraine. 557 00:33:29,560 --> 00:33:35,320 Speaker 1: It once again, it depends upon what the Russians uh 558 00:33:35,640 --> 00:33:40,040 Speaker 1: military objectives are. The U S officials that I've spoken 559 00:33:40,080 --> 00:33:43,840 Speaker 1: with today believe that the Russians have every intention of 560 00:33:43,920 --> 00:33:48,560 Speaker 1: decapitating the government of Ukraine and installing their own governance. 561 00:33:48,880 --> 00:33:51,520 Speaker 1: So that kind of explains some of the early moves 562 00:33:51,600 --> 00:33:58,000 Speaker 1: towards h keeps. Additionally, there are other escalation options that 563 00:33:58,120 --> 00:34:01,320 Speaker 1: include an effort perhaps to capture the remainder of Don 564 00:34:01,360 --> 00:34:06,840 Speaker 1: Boss and Putin will most likely attack in ways uh 565 00:34:06,880 --> 00:34:11,400 Speaker 1: to undermine the Ukrainian leadership. So we still have to 566 00:34:11,400 --> 00:34:14,960 Speaker 1: wait and see how things unfold UH. And there are 567 00:34:14,960 --> 00:34:18,080 Speaker 1: a variety of options here UH. And it's it's very 568 00:34:18,120 --> 00:34:21,959 Speaker 1: difficult at this point in time, UH to predict what 569 00:34:22,040 --> 00:34:25,160 Speaker 1: the Russians are gonna do. General. Lastly, you know how 570 00:34:25,280 --> 00:34:29,360 Speaker 1: dangerous these scenarios can become, how dangerous these border regions 571 00:34:29,400 --> 00:34:32,920 Speaker 1: are with thousands of American troops and countries like Poland. 572 00:34:32,960 --> 00:34:36,080 Speaker 1: I've been asking everyone with some area of expertise on this, 573 00:34:36,200 --> 00:34:39,480 Speaker 1: how concerned you are about the danger? The unpredictability not 574 00:34:39,520 --> 00:34:43,440 Speaker 1: necessarily ordered by Vladimir Putin, But it doesn't take a 575 00:34:43,480 --> 00:34:46,400 Speaker 1: lot to go wrong for the United States military to 576 00:34:46,400 --> 00:34:48,279 Speaker 1: get involved here. What is it that keeps you up 577 00:34:48,280 --> 00:34:55,799 Speaker 1: at night? Um, I'm less concerned about a miscalculation with 578 00:34:57,160 --> 00:35:01,040 Speaker 1: US forces that are in a NATO country ease, then 579 00:35:01,080 --> 00:35:05,080 Speaker 1: I am with a strategic perspective. What's it play here 580 00:35:05,760 --> 00:35:08,600 Speaker 1: is a longer term strategic impact, and that's that the 581 00:35:08,680 --> 00:35:13,320 Speaker 1: capacity and capability the United States to deter major regional 582 00:35:13,360 --> 00:35:17,359 Speaker 1: conflict has eroded over the last thirty years. And that's 583 00:35:17,440 --> 00:35:20,719 Speaker 1: part of the reason why Putin took action that he did, 584 00:35:21,160 --> 00:35:23,840 Speaker 1: because he sensed weakness on the part of the United 585 00:35:23,880 --> 00:35:26,719 Speaker 1: States and he's taken advantage of that. So this ought 586 00:35:26,760 --> 00:35:29,680 Speaker 1: to be a wake up call that the United States 587 00:35:29,760 --> 00:35:32,960 Speaker 1: needs to rebuild its military to the point where we 588 00:35:33,080 --> 00:35:36,640 Speaker 1: actually have a conventional deterrent effect. Where at half the 589 00:35:36,719 --> 00:35:41,000 Speaker 1: strength we were during Desert Storm, and we declined from 590 00:35:41,040 --> 00:35:44,959 Speaker 1: the ability to fight two major regional conflicts to less 591 00:35:44,960 --> 00:35:48,120 Speaker 1: than one today. So the bottom line here is that 592 00:35:48,200 --> 00:35:51,040 Speaker 1: today's Russian aggression is a direct result in the decline 593 00:35:51,040 --> 00:35:53,440 Speaker 1: at the U s military posture, and we need to 594 00:35:53,440 --> 00:35:57,040 Speaker 1: reverse that. Retired Air Force General David Deptula Din of 595 00:35:57,040 --> 00:35:59,880 Speaker 1: the Mitchell Institute for Aerospace Studies. General, thank you for 596 00:36:00,000 --> 00:36:03,520 Speaker 1: your insights today on sound On, let's reassemble the panel 597 00:36:03,760 --> 00:36:07,680 Speaker 1: get their take on that. Bloomberg Politics contributor Jennie Chanzano 598 00:36:07,760 --> 00:36:11,160 Speaker 1: Lester Munson is with us from b GR Group, formally 599 00:36:11,280 --> 00:36:14,640 Speaker 1: staff director, Senate Foreign Relations Committee. Genie, you've been listening 600 00:36:14,680 --> 00:36:17,520 Speaker 1: to some serious criticism over the course of this hour, 601 00:36:18,040 --> 00:36:20,400 Speaker 1: and at least in the case of some of our guests, 602 00:36:20,800 --> 00:36:25,080 Speaker 1: against the Biden administration's policies and even policies prior to 603 00:36:25,160 --> 00:36:27,839 Speaker 1: the Biden administration. Uh in the case that we were 604 00:36:27,880 --> 00:36:30,719 Speaker 1: just hearing from General Deptula that have brought us to 605 00:36:30,880 --> 00:36:34,800 Speaker 1: this point. Is the criticism fair? The criticism is fair, 606 00:36:34,880 --> 00:36:37,279 Speaker 1: And I think one of the things that's really just 607 00:36:37,640 --> 00:36:40,799 Speaker 1: struck me listening to the General following your discussion with 608 00:36:40,920 --> 00:36:42,920 Speaker 1: Neil was how much of this has to do with 609 00:36:42,960 --> 00:36:46,520 Speaker 1: our own internal politics having pretty much ground to a hall. 610 00:36:46,600 --> 00:36:48,920 Speaker 1: I mean, the last thing the General said was, you know, 611 00:36:49,000 --> 00:36:51,600 Speaker 1: we need to invest in the military. You can't do 612 00:36:51,640 --> 00:36:54,279 Speaker 1: that unless you can pass a budget. And we've seen 613 00:36:54,320 --> 00:36:57,280 Speaker 1: where we've been at with just that issue, let alone 614 00:36:57,280 --> 00:36:59,439 Speaker 1: the issue of energy that you were talking with Neil 615 00:36:59,480 --> 00:37:02,440 Speaker 1: about so over and over again, we hear the challenge 616 00:37:02,440 --> 00:37:06,360 Speaker 1: of the American system not functioning the way it should 617 00:37:06,360 --> 00:37:09,319 Speaker 1: be at home, and that is having serious ramifications on 618 00:37:09,320 --> 00:37:12,000 Speaker 1: our security. But Lester, we spent more in the National 619 00:37:12,040 --> 00:37:15,680 Speaker 1: Defense Authorization Act, I believe in ever, just a couple 620 00:37:15,719 --> 00:37:22,399 Speaker 1: of months ago. What more do we need in UH 621 00:37:22,560 --> 00:37:24,799 Speaker 1: forgive me for not knowing the write economic term. The 622 00:37:24,880 --> 00:37:27,239 Speaker 1: number may be high, but compared to where we were 623 00:37:27,280 --> 00:37:30,000 Speaker 1: in the past after inflation, we're not where we need 624 00:37:30,000 --> 00:37:34,879 Speaker 1: to be. General is correct. There's an opportunity, I think, 625 00:37:34,920 --> 00:37:36,920 Speaker 1: and and by the way, it's not just Joe Biden's wall, 626 00:37:36,960 --> 00:37:39,000 Speaker 1: because it is also the fault of the Trump administration. 627 00:37:39,120 --> 00:37:42,440 Speaker 1: So let's be clear the bipartisan issue. We need to 628 00:37:42,480 --> 00:37:45,879 Speaker 1: reinvest in the military. There is potentially a vehicle out 629 00:37:45,920 --> 00:37:50,560 Speaker 1: there you can reassemble, build back better with increased defense spending, 630 00:37:51,239 --> 00:37:54,640 Speaker 1: which clearly we need, with some of the domestic priorities 631 00:37:54,680 --> 00:37:57,200 Speaker 1: of the Democrats, maybe adding some from the Republicans, and 632 00:37:57,280 --> 00:37:59,920 Speaker 1: find a compromise on the way forward. That seems like 633 00:38:00,000 --> 00:38:02,680 Speaker 1: an obvious way to go. I hope leaders in Congress 634 00:38:02,680 --> 00:38:05,080 Speaker 1: can figure it out. Well. Are any leaders in Congress 635 00:38:05,200 --> 00:38:08,120 Speaker 1: telling the right story on this? Lester Who's who's the 636 00:38:08,160 --> 00:38:12,280 Speaker 1: lawmaker who's calling for this? Well, it's a great question. 637 00:38:12,320 --> 00:38:16,759 Speaker 1: There needs to be a Senator Vandenburg to uh, you know, 638 00:38:16,880 --> 00:38:20,120 Speaker 1: Joe Biden's Terry Truman. Here. We're in a crisis. We 639 00:38:20,160 --> 00:38:23,959 Speaker 1: need to see a bipartisan coalition from the executive branch 640 00:38:24,000 --> 00:38:26,800 Speaker 1: to the legislative branch. That means probably a Republican senator 641 00:38:26,840 --> 00:38:29,359 Speaker 1: to stand up and say I'm with the president. Here's 642 00:38:29,360 --> 00:38:33,439 Speaker 1: what I'm gonna do. That's probably Mitch McConnell. I think 643 00:38:33,480 --> 00:38:36,040 Speaker 1: he's got the sensibility to be able to do something 644 00:38:36,080 --> 00:38:38,480 Speaker 1: like that. They are, in fact friends. I would look 645 00:38:38,480 --> 00:38:40,560 Speaker 1: to him first, but it could it could be someone else. 646 00:38:40,560 --> 00:38:43,680 Speaker 1: But I think we really need to see that demonstration 647 00:38:43,719 --> 00:38:47,279 Speaker 1: of the unity. One of the more bizarre and well, 648 00:38:47,320 --> 00:38:52,200 Speaker 1: I guess, dystopian headlines that we heard today coming out 649 00:38:52,239 --> 00:39:00,320 Speaker 1: of this invasion Russians from the North into Ukraine. Ah, 650 00:39:03,840 --> 00:39:06,880 Speaker 1: it's an atomic fire and the Soviets can't contain it. 651 00:39:07,320 --> 00:39:11,200 Speaker 1: Salizans may already have died or been seriously contented. That's 652 00:39:11,239 --> 00:39:17,359 Speaker 1: Ted Coppel. Russian forces today seized Chernobyl Genie, not just 653 00:39:17,440 --> 00:39:21,399 Speaker 1: the city, but the plant, and as I read, they 654 00:39:21,480 --> 00:39:24,560 Speaker 1: don't know if the current condition of the power plant 655 00:39:25,520 --> 00:39:28,640 Speaker 1: has changed, if it remains safe. And I guess I'm 656 00:39:28,680 --> 00:39:32,520 Speaker 1: left asking, does Vladimir Putin care all about his own 657 00:39:32,560 --> 00:39:37,239 Speaker 1: military sending hundreds of troops into Chernobyl today, Jeannie, does 658 00:39:37,239 --> 00:39:39,080 Speaker 1: that tell us all we need to know? It does? 659 00:39:39,120 --> 00:39:41,480 Speaker 1: And I think we also have to remember that the 660 00:39:41,560 --> 00:39:43,840 Speaker 1: thinking is is that the reason they're going in is 661 00:39:43,880 --> 00:39:46,319 Speaker 1: because it allows them to enter Keev. And you know, 662 00:39:46,360 --> 00:39:49,040 Speaker 1: we just heard the general say that that is what 663 00:39:49,080 --> 00:39:50,520 Speaker 1: they want to do. I think the word he used 664 00:39:50,560 --> 00:39:54,200 Speaker 1: was dick capitrate the Ukrainian government get into kievs so 665 00:39:54,560 --> 00:39:56,680 Speaker 1: this would be a way there. And you know, I 666 00:39:56,760 --> 00:39:59,719 Speaker 1: was struck speaking of Vladimir Putin and whether he cares 667 00:39:59,760 --> 00:40:03,239 Speaker 1: about his troops by what McCrone said in terms of 668 00:40:03,360 --> 00:40:06,680 Speaker 1: how he found uh who and when he spoke to him. 669 00:40:06,719 --> 00:40:08,839 Speaker 1: I think the quote was he was not the same 670 00:40:08,880 --> 00:40:11,200 Speaker 1: as he had seen him in twenty nineteen, that he 671 00:40:11,239 --> 00:40:14,360 Speaker 1: found him rigid and isolated. That is a scary proposition 672 00:40:14,400 --> 00:40:17,440 Speaker 1: for somebody with nuclear capacity, and that's what we're facing 673 00:40:17,480 --> 00:40:21,480 Speaker 1: today cher Nobles, I believe, sixty five miles away from Kiev. Lester. 674 00:40:22,440 --> 00:40:28,719 Speaker 1: We talked about this yesterday whether whether he has all 675 00:40:28,760 --> 00:40:32,400 Speaker 1: of his marbles with him, and what exactly is driving 676 00:40:32,480 --> 00:40:37,400 Speaker 1: Vladimir Putin, if anyone other than his his own instinct 677 00:40:37,520 --> 00:40:41,640 Speaker 1: here to try to rebuild the Soviet Union. Well, he's 678 00:40:41,640 --> 00:40:44,560 Speaker 1: going to go down in history as a as another 679 00:40:44,640 --> 00:40:48,320 Speaker 1: Hitler or something close to that. This is a terrible 680 00:40:48,360 --> 00:40:51,560 Speaker 1: mistake he's making. He's going to be totally isolated some 681 00:40:51,719 --> 00:40:56,720 Speaker 1: of the diplomatic words from Beijing, notwithstanding the entire world 682 00:40:56,800 --> 00:41:00,920 Speaker 1: is against him here. This is a crazy decision. Despite 683 00:41:00,960 --> 00:41:06,280 Speaker 1: his attempts at demonstrating some historical logic or Russian security interests, 684 00:41:06,320 --> 00:41:10,080 Speaker 1: most of which is phantasmal. This is this is a 685 00:41:10,160 --> 00:41:12,920 Speaker 1: huge mistake he is making. An Unfortunately, he's in a 686 00:41:13,000 --> 00:41:16,880 Speaker 1: position where he can enforce that decision and make it happen. 687 00:41:16,880 --> 00:41:19,160 Speaker 1: And that's what has to change. Thanks for your ideas 688 00:41:19,360 --> 00:41:22,040 Speaker 1: and your insights today, Lester Months in principle at the 689 00:41:22,080 --> 00:41:25,000 Speaker 1: Government Relations from bg our group, former Senate Foreign Relations 690 00:41:25,000 --> 00:41:28,320 Speaker 1: Committee staff director, and of course our friend and colleague 691 00:41:28,400 --> 00:41:31,600 Speaker 1: Jennie Chanzano, Bloomberg Politics contributor. We're going to be going 692 00:41:31,600 --> 00:41:34,080 Speaker 1: through a lot with Genie, and we'll hear again from 693 00:41:34,160 --> 00:41:37,200 Speaker 1: Leicester in the coming days. Here as we cover this 694 00:41:37,239 --> 00:41:40,239 Speaker 1: story in real time, the first draft of history here 695 00:41:40,239 --> 00:41:43,640 Speaker 1: on Bloomberg Sound on February is, of course also Black 696 00:41:43,719 --> 00:41:46,640 Speaker 1: History Month. Every day this month celebrating significant moments in 697 00:41:46,760 --> 00:41:49,200 Speaker 1: US Black history. And we do that right now on 698 00:41:49,200 --> 00:41:52,239 Speaker 1: this Thursday, February twenty. Here's Bloomberg's We Need a Young 699 00:41:52,560 --> 00:41:55,360 Speaker 1: on this day in Black History. In eighteen sixty four, 700 00:41:55,440 --> 00:41:58,680 Speaker 1: Rebecca Lee Crumpler becomes the first Black woman to receive 701 00:41:58,719 --> 00:42:01,520 Speaker 1: an m d. Degree. To put that into perspective, in 702 00:42:01,640 --> 00:42:04,560 Speaker 1: eighteen sixty there were only three hundred women out of 703 00:42:04,600 --> 00:42:07,279 Speaker 1: fifty four thousand, five hundred and forty three physicians in 704 00:42:07,280 --> 00:42:11,400 Speaker 1: the United States. None of them were African American. Crumpler 705 00:42:11,440 --> 00:42:14,600 Speaker 1: first worked as a nurse in Charlestown, Massachusetts, before she 706 00:42:14,680 --> 00:42:17,880 Speaker 1: was accepted into the New England Female Medical College. It 707 00:42:17,960 --> 00:42:20,520 Speaker 1: was during a time when male physicians claimed women did 708 00:42:20,520 --> 00:42:23,880 Speaker 1: not have the physical strength to practice medicine. In eighteen 709 00:42:23,920 --> 00:42:27,640 Speaker 1: eighty three, Crumpler released book of Medical Discourses, which was 710 00:42:27,680 --> 00:42:30,960 Speaker 1: one of the first medical books written by an African American. 711 00:42:31,600 --> 00:42:35,560 Speaker 1: That's today in Black History. I'm Nita Young Bloomberg Radio, 712 00:42:36,280 --> 00:42:40,520 Speaker 1: and I'm Joe Matthew Bloomberg Radio Washington on the fastest 713 00:42:40,520 --> 00:42:43,120 Speaker 1: hour in politics. Thanks for spending some time with us 714 00:42:43,880 --> 00:42:46,440 Speaker 1: as we deal with some tough subject matter here, and 715 00:42:46,480 --> 00:42:49,000 Speaker 1: we'll do it again tomorrow. I'll meet you back here 716 00:42:49,080 --> 00:42:52,560 Speaker 1: with the panel. This is Bloomberg