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Likely. in fact, it's starting to happen. their currency has already crashed to record low. hyper inflation is on the horizon. russians are actively making a run on the banks. trying to withdrawal all their money while they still can. even the russian state's biggest money makers have become a sinking ship like oil companies, gas who shares plunge almost in half thanks to boycotts from western countries. and putin's out of silver bullets, too. now that the west froze central banks reserves. putin has lost access to a war chest worth close to $650 billion. he was banking on using that cash to s...

Own economy. we are continuing to look at new and even harsher measures against the russians. >> you said the things that you're putting in place now you want to make sure you protect the u.s. and allied economies as well. are you saying that by including the energy sector that that would put a burden on our economies? >> we have not taken anything off the table. we're continuing to look at this. we're ramping up as the russians ramp up, so there's more to come. while energy is not in this current announcement, it doesn't mean it's off the table, but we also want to do everything we can to pro...

And all sorts of problems. the most significant thing we've done, actually, which mika referred to in her lead-in, is essentially blocking the $650 billion of foreign exchange. as we talked about on the show a couple of weeks ago, putin has spent the last several years trying to sanction-proof his economy, if you will. he has cut his debt ratio to gdp and has built up the third largest pile of foreign exchange in the world, $650 billion that he expected to be able to use to continue to buy things using foreign currency if there was a set of sanctions or foreign embargoes placed on him. now we'...

Participants. >> russia has over $650 billion in reserves, in preparation for a situation like this. we should note for viewers at home, nord stream 2 is not completed yet, it is not functional. the threat of withholding gas supply has nothing to do with nord stream 2, it would come from russia deciding to withhold the gas. >> important to note that, you know, the europeans have had years to try to figure out a way to be less reliant on russia, if russia is not going to be a good player with nato and with the rest of europe and so it just shows s you how vulnerable they still are there. up n...

Since friday. nord stream 2 and also on its own defense spending to today, we've got switzerland putting aside the swiss neutrality saying that it will also be imposing sanctions in line with what the eu is doing. what do you think the impact of this is? >> reporter: well, it's huge. and the head of the eu is here talking with president macron as they keep trying to bolster and sharpen the pain from these sanctions. as you know, both terks u and the united states have cut off russia's central bank from the so-called sanction-proof wind fall he's been accumulating some $650 billion over the las...