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Can't access is because that's money they have over 640 billion in reserves, that's money they could use to prop up the ruble and finance the violence machine in ukraine now and now they won't be able to do that. >> what you're talking about s, the 640 approbillion in reservee rainy day fund putin has been amassing to insulate himself for this very occasion. why this time can't he access it? >> that's right. the reason he can't access it is because the sanctions that have been announced prohibit u.s. persons and european persons from -- and persons, individuals and businesses from engaging in ...

Countries from purchasing the oil, and from iran from benefiting from those. that is also for russia, the oil and gas sectors are major hits. you mentioned it in your introduction. the sanctions related to nord stream 2 pipeline, which germany did, and we needed germany to do that, to lead on that, that robs russia of billions, billions with a.b., billions of dollars. that money will go to fuel its violence machine, and to prop up putin's regime. those are going to be strong. the sanctions that you saw from the biden administration, the bottom line is that all of the sanctions are very tough, ...

Because i was thinking about it during your introduction. people always say sanctions don't work until they do, right? iran is a perfect example of that. those sanctions, the ones that really crippled iran's economy that brought them to the negotiating table where sanctions related to its oil sector. the ones that prevented other countries from purchasing the oil, and from iran from benefiting from those. that is also for russia, the oil and gas sectors are major hits. you mentioned it in your introduction. the sanctions related to nord stream 2 pipeline, which germany did, and we needed germa...

What are called tranches. the idea is to escalate as much as possible. the latest action where they targeted all these defense companies and parliamentaparlia. the one they did against the central bank, the ones against president putin, any sanctions against russia's oils, those are going to be the most powerful. the sanctions just announced during the trip are important because they were done in unity with the europeans. for europe, it's not so easy to get these sanctions, because all member nations have to agree with them. so number one, it was done in unity with europe. and number two, they...