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Quest Means Business
New Fighting At Mariupol Plant Halts Evacuations; Biden Visit Plant Making Anti-Tank Missiles For Ukraine; Leak Reveals U.S. Top Court Could Overturn Abortion Rights; Blasts Heard In Lviv, Much Of City Without Power; Nearly Half Of Russia's Oil Exports Go To Europe; Quest's World Of Wonder; Dash To The Bell. Aired 3-4p ET
Aired May 03, 2022 - 15:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
ZAIN ASHER, CNN INTERNATIONAL HOST: With one hour left of trade, metered gains on Wall Street. Let's take a look.
The Dow is up about 127 points. Banking shares are also up as the Federal Reserve begins a closely watched two-day meeting. Those are the markets and
these are the main events.
Over 100 people flee to safety after a nightmare scenario, trapped in the Azovstal steel plant in Mariupol.
President Biden is due to speak shortly to express the need for urgent military and economic aid for Ukraine.
And a night of protest is expected across the United States as the Supreme Court appears set to overturn its landmark decision protecting abortion
Coming to you live from New York, it is Tuesday, May 3rd. I'm Zain Asher, in for my colleague, Richard Quest, and this is QUEST MEANS BUSINESS.
Tonight, Ukraine's Deputy Prime Minister says that Russian forces have broken a ceasefire in Mariupol making it impossible to evacuate civilians
from its besieged steel plant. Both sides report fresh fighting at the devastated complex where hundreds of women and children and elderly people
are thought to still be holed up.
More than 100 civilians taken from the area before fighting broke out again, arrived a short time ago in Zaporizhzhia.
Our Nick Paton Walsh was there.
NICK PATON WALSH, CNN INTERNATIONAL SECURITY EDITOR: Certainly, there are hundreds thought to still be within Azovstal. We don't have a precise
number -- a hundred, 200 have been suggested. Some of those will be women and children. Some of those will also appear that there are some wounded
Ukrainian soldiers still within there.
It's unclear if those military injured are part of any mechanism that may be used here. At this point, it doesn't appear to be the case.
But the people emerging on these buses are obviously the most severely at need, the ones who have endured those weeks in the darkness.
And I should just point out still blinking. One woman in her 70s when she came out at seeing this kind of sunlight just said it was frankly hard to
see at this day.
ASHER: Scott McLean is in Lviv, Ukraine. Parts of that city are now without power after a series of blasts were heard there a short time ago.
Scott is on the phone with me now.
So Scott, just walk us through what more we know at this point about the blast that were heard in around Lviv.
SCOTT MCLEAN, CNN CORRESPONDENT (via phone): Hey, Zain, yes. We've actually just arrived at a site about four miles, it is about six
kilometers from the center of the city. We're just walking toward it right now to try to give you a picture of what we're seeing. But what I'm looking
at right now, we're actually walking through a cemetery, which is right near some train tracks, and I can see some pretty big flames in the
ASHER: Okay, Scott, I apologize because President Biden is actually speaking right now. Let's listen.
JOE BIDEN (D), PRESIDENT OF THE UNITED STATES: ... I'd be worried.
BIDEN: Well, good afternoon, everybody. And thank you, Jim, for the invitation to be here today and Linda, for the warm welcome today. And
Congressman Sewell -- woman Sewell, thank you for all you do for the people of this state and the country and for your friendship -- our friendship.
I wanted to come down to Alabama to make sure that the American people know what workers at this --
And, by the way, if you have a seat, please take it.
BIDEN: By the way, sometimes -- the press is always fair with me, but once -- every once in a while, I make a mistake -- not like -- well, once a
But, at any rate, I -- years ago, when I first started talking to this -- for this job, I said, "Please take your seats." There weren't any seats.
Everyone was standing. There were no chairs.
BIDEN: So, I just wanted to make sure I checked whether you had seats.
Look, the American people know what workers at this facility are doing and support -- to support Ukraine's fight for freedom.
And the bottom line is, I came to say thank you, thank you, thank you. That's the reason I'm here.
I've been on those battlefields where these missiles are fired, and I spent a lot of time going in and out of Iraq and Afghanistan -- maybe a total of
40 times. And I'll tell you what: You're -- and I've been in Ukraine a lot prior to the war and on the border since the war.
And it's -- it's amazing what you've done.
We see on the news every single day the atrocities and the war crimes that are being committed by Russian forces in Ukraine, directed by Vladimir
Putin, and it really is gut-wrenching.
We see the incredible bravery of the Ukrainian fighters defending their country from -- with everything they have. And, by the way, it's not just
their warriors. It's not just their military. It's people in the street -- people in the street, staying behind.
A lot have gotten out -- five million -- but a lot are staying, including women as well as men, staying to fight for their country.
And -- and we know that the United States is leading our Allies and partners around the world to make sure that courageous Ukrainians who are
fighting for the future of their nation have the weapons and the capacity and ammunition and equipment to defend themselves against Putin's brutal
war. A lot of war crimes being committed.
But what we don't -- what we don't see -- we don't always see -- is the work that so much of -- that makes so much of this possible. And that's
you. It's not hyperbole. It's you. You make it possible. You make it possible for them to have a shot.
You know, during World War Two, the United States was known as the arsenal of democracy. There was Rosie the Riveter, who I actually got to meet,
quite frankly, before she passed away and a lot of people who, in fact, kept the -- kept it going.
I was -- a slight digression -- I went over for the 50th Anniversary of the -- the end of World War Two, and I was in Normandy, and I went up
afterwards with the -- to the cemetery. And I was walking by myself, and it's -- it's incredible. It's immaculate. It's perfectly manicured and the
headstones are all the same.
I looked down one row, and I saw three names -- same names. A father and two sons who had died in the landing. And I was bent down, and I was
reading the dates of their birth. And all of a sudden, I heard behind me, "Attention!" And I turned around and there was a gentleman who had to be in
his early 80s, in a wheelchair, being wheeled by his son who -- big guy -- looked like Hoss Cartwright -- and his -- and his wife and one of their --
and a daughter.
And he saluted me, so I saluted him, and -- at the time, I turned around, and I said, "Thank you for what you did. Thank you for saving -- literally
And he put his hand on his wife's -- his wife -- his hand was on her shoulder. And he said, "No, no. She did it. She did it."
And I looked at her, and he said, "She built the landing craft that got us in here. She and her friends -- they're the ones that did it." And he went
on. And he filled up.
And all of a sudden, it dawned on me: You're doing it. You really are doing it. You're making a gigantic difference for these poor sons of guns who are
under such enormous, enormous pressure and firepower.
Those Javelins I saw -- there's 10 for every tank that there is in Ukraine right now. You're changing people's lives.
We built the weapons -- no, you really do.
But we built the weapons and the equipment that helped defend freedom and sovereignty in Europe years ago. But that's true again today.
You know, some of the best, most effective weapons in our arsenal are those Javelin missiles, like the ones manufactured right here in Pike County.
They're highly portable. They're extremely effective against a wide range of armored targets. They can hit targets up to 400 [4,000] meters away and
have a "fire-and-forget" capability. That means the person firing can -- and I know you know it, but for anybody who may be listening -- can change
positions or take cover before that Javelin even strikes home and strikes the target.
In fact, they've been so important -- there's even a story about Ukrainian parents naming their children -- not a joke -- their newborn child
"Javelin" or "Javelina." Not a joke.
So, the brave people of Ukraine, including the many civilians who have taken up arms to defend their country, deserve every ounce of credit for
pushing back the Russian assault and frustrating Putin's desire to dominate Ukraine.
We're at an inflection point in history, for real -- it comes along about every six or eight generations -- where things are changing so rapidly that
we have to be in control.
Folks, there's an ongoing battle in the world between autocracy and democracy. Xi Jinping, the leader of China, who I've talked -- I've spent
more time with than any other world leader has -- over 78 hours on the -- either in person or on the telephone with him, and the fact of the matter
is he just is straightforward about it. He says that democracies cannot be sustained in the 21st Century. Not a joke. They cannot be sustained --
because things are moving so rapidly, democracies require consensus, and it's hard to get consensus, therefore they can't keep up with an autocracy
-- one-man rule.
But that's not going to be the case. If that happens, the whole world changes.
And because of you -- in this first, really, battle, if you will -- for that to determine whether that's going to happen is because you're making
it possible. You're making it possible for the Ukrainian people to defend themselves without us having to risk getting in a Third World War by
sending in American soldiers fighting Russian soldiers.
My dad used to have an expression. He'd say, "The only war worse than one that's intended is one that's unintended."
You're allowing the Ukrainians to defend themselves. And, quite frankly, they're making fools of the Russian military in many instances.
A big part of the reason they've been able to keep on fighting and to make this war a strategic failure for Russia is because the United States,
together with our Allies and partners, have had their back.
The United States alone has committed more than 5,500 Javelins to Ukraine. You're changing the nation. You really are. Add to that significant
supplies from our Allies and partners, as well as many thousands of other anti-tank and anti-air weapons, helicopters, armored vehicles, artillery,
coastal defense systems.
Before Russia attacked, we made sure Russia [Ukraine] had Javelins and other weapons to strengthen their defenses so Ukraine was ready for
And in the last two months, we continued to move even more resources and equipment at a rapid pace into Ukraine. We've made sure that there are no
interruptions in the flow of equipment to Ukraine.
Since Russia invaded Ukraine just over two months ago, we have sent more than $3 billion in security assistance to Ukraine -- alone, us -- not
counting our Allies. And that money is a direct investment in defending freedom and democracy itself.
Because if you don't stand up to dictators, history has shown us they keep coming. They keep coming. Their appetite for power continues to grow.
And every worker in this facility and every American taxpayer is directly contributing to the case for freedom. And that's something we can all be
incredibly proud of, in my view.
Last week, I sent Congress -- if you excuse a point of personal privilege, talking like an old senator -- but I sent a supplemental budget -- a fancy
way of saying we need more money -- to make sure the United States can continue to send weapons directly to the frontlines of freedom in Ukraine
and to continue to provide economic and humanitarian assistance to help the Ukrainian people.
And I urge the Congress to pass this funding quickly to help Ukraine continue to succeed against Russian aggression, just as they did when they
won the Battle of Kyiv, and to make sure the United States and our Allies can replenish our own stocks of weapons to replace what we've sent to
As I said from the beginning, this fight is not going to be cheap, but caving to aggression would even be more costly.
We either back the Ukrainian people as they defend their country or stand by as Russia continues its atrocities and aggression.
I know what my answer is, and I think you all do, too. I bet I know what the answer of this plant is.
There's something else here that -- to be understand. Being the arsenal of democracy also means good-paying jobs for American workers in Alabama and
the states all across America where defense equipment is manufactured and assembled.
Two hundred and sixty-five people here at this plant are directly employed working on the Javelin program. All told, Lockheed Martin has brought
nearly 3,000 jobs to Alabama.
The Armed Forces of the United States of America is going to continue to be the best-armed, most capable fighting force in the history of the world.
In order to do that, we have to make sure our vital defense supplies [suppliers] are getting the inputs and supplies they need to produce and
protect and provide the full capacity.
I learned on the tour today that each of the Javelins you produce includes more than 200 semiconductors. I've been a broken record, as the press will
tell you, on our need to be able to produce more semiconductors in the United States.
We invented the sucker, going to the moon -- we, the United States. We're the one that modernized it. We've done more than anybody else. But guess
We stopped investing in ourselves. We stopped investing in ourselves.
And so, now we're back in the game, making sure that we become -- we become the primary producer of those semiconductors -- computer chips that power
much of our modern lives.
They're in our phones, our cars, almost anything that has an on/off switch. And the semiconductor is critical to defense production capacity, as you --
you all know better than I do.
That's why we are making it as hard as we can for Russia to get a hold of semiconductors and advanced technologies that it could use to upgrade its
military during this conflict, and why we're taking steps to make it easier to source what we need here in the United States during a global
And just one more -- there is just one more reason why Congress has to act quickly to provide the emergency funding for the so-called CHIPS Act by
passing the broader Bipartisan Innovation Act so we can produce tens of millions of these chips.
There is something we have to focus on and something I've focused on from my earliest days of our administration: I'm determined to make sure the
United States holds the technological high ground in competition with other nations, especially China, as we move forward.
Folks, you know, we -- we used to invest, as a nation, years ago -- 35 years ago, we invested two percent of our entire GDP in research and
development. We do half of that now. We do half of that. We used to be number one in the world. Now we're number 13 in the world.
My administration -- we're changing that.
The United States used to own the innovation field. In fact, it was a Department of [Defense] research program that established DARPA. It was the
first development of an anti-tank missile with advanced infrared guidance systems that culminated in today's Javelin.
The Bipartisan Innovation Act is going to help reverse decades-long decline in federal research and development investment. And it should create [jobs]
and support entire families, and expand U.S. manufacturing and strengthen our national security.
Where in God's name is it written that the United States can no longer be a leading manufacturer in the world? We've created, just in the last 17
months, 465,000 permanent manufacturing jobs in America. We have the best workers, the most competent employees, the best science in the world.
And by funding the CHIPS Act, we're going to ensure the semiconductors that power the economy and our national security are made here in America again.
Today, all -- all the world's most advanced chips are made overseas. But the events of the past few years have proven beyond a doubt that America's
security should never be held hostage to events overseas -- not a pandemic, not a war, not the politics of ambition, or other countries.
Fundamentally, there's a national -- this is a national security issue. This is one of the reasons why the Chinese Communist Party is lobbying
folks to oppose this bill. And it's an issue that unites Democrats and Republicans.
So, let's get it done. Let's get it done.
In her introduction, Linda said she personally touched every single solitary Javelin -- 50,000 -- that had been manufactured in this plant 20
I was worried to shake your hand. I thought you may -- I might be electrocuted.
But that's where they start: right here with American skill, American craftsmanship, American patriotism.
And just a few days ago, "The Wall Street Journal" quoted a young Hungarian [Ukrainian] fighter saying, and I quote, "Without the Javelins, it would
have been very hard to stop the enemy pushing ahead." End of quote.
So these weapons, touched by the hands -- your hands -- are in the hands of Ukrainian heroes, making a significant difference. And that's something
each and every day you could and should be proud of.
And I'm once more urging Congress to quickly pass the supplemental funding bill for over $300 [$30] billion to help the Ukrainians so they can keep --
they can keep all of the very, very -- all of you very, very busy for a while here.
So, again, let me end where I began. I came for a basic reason, from the bottom of my heart: to say thank you. Thank you, thank you, thank you for
what you do. Thank you for what you continue to do. Unless you go out in the field and see it, you don't realize what a difference you're making.
May God bless you all. And may God protect our troops. Thank you so much.
ASHER: President Joe Biden they're speaking at a javelin missile plant in Troy, Alabama addressing workers, addressing employees at that plant
telling them that they are really making a difference in the lives of ordinary Ukrainians.
The U.S., as President Biden had said, has already committed about 5,000 javelins to Ukraine. He talked about the importance of the Defense industry
in the United States in terms of providing jobs, but then he broadened out his speech appearing to speak to ordinary Americans watching this at home,
watching this on the television, appealing to Congress to pass the $33 billion requested military aid to help Ukraine.
I want to bring in CNN military analyst, retired U.S. Air Force Colonel Cedric Leighton.
So Cedric, just explain to our audience why these Javelin anti-tank missiles are so important in this fight.
COL. CEDRIC LEIGHTON (RET), CNN MILITARY ANALYST: Zain, these antitank missiles are a game changer, and the reason they are a game changer is
because they are the almost perfect weapon to use against the Russian T-72 tank, the Russian predominant -- Russians predominantly have the T-72 as
their tank. They also have other tanks, but that's the predominant variety. And the Javelin is particularly suited to go after it because of the type
of armor that the T-72 uses and the type of warhead that the Javelin has.
So this missile, the Javelin missile is also very easy to use for the Ukrainians. A crew of one or two can actually use this in combat. And it
was particularly vital in the defense of Kyiv, and it may prove to be vital in the actions that are taking place in the Donbas region in Eastern
ASHER: The President said that the U.S. has actually already committed 5,000 javelins to Ukraine at this point. How much more does Ukraine need to
perhaps turn the tide in this war?
LEIGHTON: Well, it depends on how many tanks the Russians can send to the battlefield. So we don't know the exact number yet, but I would estimate
that you could probably at least double that figures that we're talking around 10,000 Javelins in order to make sure that the Ukrainians can keep
territory or at least minimize the loss of territory against the Russians. So that's just an estimate at this point.
You know, as this drags on in Ukraine, it could very well, you know, the equation there could change a bit. But clearly, the plant in Troy, Alabama
is critical to the resupply effort and do that, so yes, I think one of the main reasons why this visit was so important not only for the workers at
the plant, but also for the Ukrainians as well.
ASHER: Colonel Cedric Leighton, thank you so much.
I want to turn now to M.J. Lee who is standing outside the White House. Obviously, M.J., the President there appealing to Americans, appealing to
Congress to pass this $33 billion aid package, military aid package to Ukraine. Walk us through what that money specifically is earmarked for and
what it will go towards?
M.J. LEE, CNN WHITE HOUSE CORRESPONDENT: Yes, you know, this is money that the White House has said is critical, and they have been asking for
Congress to move as quickly as possible, a big chunk of that money, of course, goes towards security and military spending and the White House has
been making clear for days now that the money that was allocated in the previous package that Congress had approved, that much of it has already
been spent, particularly when it comes to the amount that was allocated for military spending.
So you know, it is not a coincidence that this event that the President is holding, that he is participating, and speaking from a facility that makes
these Javelin missiles, he wanted there to be clearly a visual of what this kind of money is going towards.
He talked a little bit about how there is an ongoing battle between autocracy and democracy in the world. So, sort of painting sort of that big
picture argument for why it is so important he believes for Americans to continue sort of supporting this war. Obviously, this kind of support has
been really critical.
And you know, Ukrainian officials in recent weeks have been very urgent in their tone in saying we can't get this kind of equipment fast enough. So
this is sort of the message that the President wanted to send today, sort of showing this is what that money is going towards and that we need to be
sending more of this kind of equipment.
ASHER: M.J. Lee live for us there, thank you so much.
Safe and legal abortion access in the U.S. appears to be hanging by a thread. The nation's top Court has confirmed that a leaked draft opinion on
Roe versus Wade is authentic. The draft suggests the Court could strike down the landmark ruling protecting women's abortion rights.
The Court stresses that the opinion is not final. Chief Justice John Roberts called the leak a betrayal, but said it won't succeed in
undermining the Courts proceeding.
The U.S. President Joe Biden said the draft ruling could jeopardize a whole range of rights.
(BEGIN VIDEO CLIP)
BIDEN: If this decision holds, is really quite a radical decision. It basically says, all the decisions relating to your private life who you're
married, whether or not you decide to conceive a child or not whether or not you can have an abortion, a range of other decisions, whether or not
how you raise your child. What does this do? Does this mean that in Florida they can decide they're going to pass a law, saying that same sex marriage
is not permissible?
(END VIDEO CLIP)
ASHER: CNN legal analyst and Civil Rights attorney, Areva Martin joins us more now.
So, Areva, we were talking about this a few hours ago. Just explain to us why you think this draft opinion might have been leaked. What do you think
the intention was behind that?
AREVA MARTIN, CNN LEGAL ANALYST: Yes, there's a lot of speculation about the leaked draft opinion, those on the right are pointing the fingers at
liberals; liberals are pointing the fingers at conservatives. There's some theory that conservatives wanted the opinion to get out so that the outrage
that people would have what happened now, and would be dissipated by the time of the midterm elections.
Many on the left think that this week's opinion may have been from someone that was a liberal because they wanted it to come out to galvanize voters
in leading into the midterm elections.
So I don't think we're ever going to know, maybe through this investigation, we'll find out who actually leaked the opinion. But what we
do know is that this is appalling. It's shocking. This kind of thing should not happen, that a draft opinion that should be only circulated amongst the
nine Justices, and that should be kept confidential until it is published, should have never made its way into the public sphere.
ASHER: Obviously, the Supreme Court -- a Supreme Court ruling is actually the law of the land. So what recourse now, if this is the final opinion,
what recourse now do those on the left actually have?
You know, is it simply sort of political recourse just in terms of state laws? Just walk us through that?
MARTIN: Yes, mostly it is about state laws, because we know at least half of the country already have trigger laws or ready to pass legislation that
would ban abortion, but we also know in more liberal states like California, New York, those states have made a commitment to continue to
allow women to have agency and control over their bodies.
But it's going to be up to each state, each state legislative body to determine what that legislative body rules as it relates to women's rights
to control their own reproductive health.
We also have heard a lot of talk about expanding the Supreme Court and making it a Court that has more members, allowing for there to be an
appointment of additional judges that would lean more towards the left. But we know that that concept of expanding the Court has not gotten a lot of
traction with the Biden White House.
So I think at this point, we really are talking about elections at the state level and making sure that people get out and vote and then they vote
for those legislators that are going to uphold women's rights to choose.
ASHER: All right, Areva Martin, live for us there. Thank you so much.
We'll have much more news after the short break.
ASHER: Breaking news out of Ukraine, where Russian missile strikes are being reported in several parts of the country. Multiple explosions were
heard in the last hour in the city of Lviv. And officials say two missiles were shot down over the southwestern town of Vinnytsia.
Several of the targets in this latest wave of strikes appear to be related to the transport of military equipment into Ukraine, which Russia had
threatened to attack. Scott McLean is joining us now live from Lviv where parts of the city are still without power after a series of blasts.
Scott, we're hearing the smoke billowing in the air in parts of the city, fires burning, also trains halted as well. Just walk us through what you
SCOTT MCLEAN, CNN CORRESPONDENT: Yes, these blasts were certainly a wake up call for the city of Lviv. There were three of them, at least three of
them; they were powerful. The sound was absolutely unmistakable.
Where I am right now is about six kilometers to the east of the city. What you're seeing behind me is what's left of the power substation, which seems
to be connected to the railway tracks just behind us. You can see the fire is still just smoldering a little bit there.
When we got here about 30, 40 minutes ago or so, there were still flames that the firefighters were putting out. Now it seems like they are just
trying to keep control of what exactly is here.
CNN has also spoken to witnesses who live in this area, who actually thought that these missiles that were flying overhead were Ukrainian
fighter jets. That is how fast that they were going and that is exactly what they looked like.
But they said that just two seconds, literally two seconds after they saw these go ahead, they heard a loud explosion.
They thought that this hit houses in the area and so they actually got in their car, they drove over to this site, where they got -- they brought
shovels, axes, buckets because they thought that perhaps they would be digging to try to get people out from underneath of the rubble.
Turns out, this was an electrical substation and they say there was a second blast as well that happened subsequently, which was the transformer
actually blowing up. Now in the city of Lviv, where we were, in the center of town, the power went out. It seems like the power is out in a wide swath
of the area. The mayor confirmed that later.
There were three power substations hit, according to the mayor. And that's also contributing to some water issues as well because, obviously, that
power powers the water pumping stations. And so they're trying to work around that at this moment.
This is not the first time that we have seen attacks on railway infrastructure. In fact it's becoming kind of a regular thing in this
country. Just a few days ago, there was another series of attacks at choke points or railway junctions across this country. This was just after,
literally hours after a U.S. delegation had left the country.
And this is really an uncommon sight here in Lviv. We're just on the outskirts of town. But even here, people have gotten pretty used to the
sound of air raid sirens. They went off out about an hour or so before we heard the bombs actually strike.
Usually, they sound once to indicate the air raid alert and then once again to indicate an air raid alert is over. And the distance between those was
about 1.5 hours or so.
And people have gotten pretty comfortable with those sounds. People aren't necessarily rushing to shelters with the same kind of urgency they were in
the early days of war. This now though, by my count, is the fourth missile strike or the first Russian military strike on the Lviv region.
And just a reminder for the people here that, even though the front lines are far away, nowhere in this country, at this point, seems to be safe.
ASHER: You can say that again. Scott McLean, live for us there, thank you so much.
As the fighting continues, the E.U.'s finalizing new sanctions that could induce or include, rather, a ban on Russian oil. Slovakia and Hungary have
both objected to that move. E.U. officials say the two countries may be granted an exemption in order to get their support.
The Italian prime minister says it may be time to update the E.U.'s voting rules.
Mario Draghi told the European Parliament that unanimity (sic) gives member nations too much power.
MARIO DRAGHI, ITALIAN PRIME MINISTER (through translator): (INAUDIBLE) the principle of unity (ph) which leads to a logic of -- (INAUDIBLE)
governmental decisions. (INAUDIBLE) decisions (INAUDIBLE) on the basis of (INAUDIBLE).
A Europe which is capable of taking (INAUDIBLE) decisions is a Europe that is more critical -- credible -- excuse me -- (INAUDIBLE) citizens in the
rest of the world.
(END VIDEO CLIP)
ASHER: Cristian Busoi is the chair of one of the European Parliament's committees on energy. He joins me live now from Strasbourg, France.
Cristian, thank you so much for being with us. Just explain to us how much an oil embargo would damage Moscow's revenue stream.
And therefore, what would that mean, in your opinion, for the war?
CRISTIAN BUSOI, EUROPEAN MP: It's clear that the ban on oil, maybe yes, would be a very strong hit on Moscow and Russia. This is a clear for all of
us. On the other hand, of course, you know that, unfortunately, some of European countries are quite reliant.
They need this important widely to clear (ph) and strong commitment to replace the import of fossil fuels, oil and gas. Because coal is already
forbidden to imported from Russia.
Gradually, starting as soon as possible and finishing as soon as possible, I'm not sure that now, the unanimity for taking these decisions is still
here. But there is a plan, European Commission came with the (INAUDIBLE) which was a communication endorsed strongly by European Parliament and by
the member states.
Now they will come with a plan, an action plan, especially to replace Russian gas. But of course, oil is also extremely important in this
situation. And member states, all the member states are working jointly, putting in place even solidarity measures in order to get rid, to replace,
to eliminate the imports from Russia as soon as possible.
And diversified suppliers, increase energy efficiency, increase the renewables and become more energy independent.
ASHER: Right, I mean we've talked plenty of times about the importance of becoming much more independent from Russian energy.
But an oil embargo, what sort of impact, given a lot of European countries, Hungary, Slovakia, those countries are so dependent on Russian energy, what
sort of impact would an oil embargo have on various European economies?
BUSOI: We already experienced an increase of prices and energy. And there is an increase of prices in electricity, in gas and, of course, increase of
price in the fuels. This already puts a big burden after the COVID-19 pandemic, which, of course, raised some important economic issues.
So it is very important that all the measures that we are taking, will make, will hit Russia more than would hit our economies.
So it is important to be very efficient. And this could be one of the efficient measures. And in the same time, needs not to create a very much
economic difficulty to some of the European countries. This is an important principle.
On the other hand, of course, there are some European countries, unfortunately, which are not as committed as others.
To go until the end with the sanctions against Russia. That's why the discussions are still ongoing.
But the commitment to support Ukraine, the commitment not to make any more business with Russia, now and, of course, to terminate in the medium term.
Already the decision taken with (INAUDIBLE), the decision taken with the coal imports and everything that we are prepared forecasts on oil.
I think it's a strong signal that we are going in the same direction with the United States. And we will make everything possible in order to support
Ukraine and weaken Russia and weaken the war machinery of Moscow.
ASHER: Cristian Busoi, live for us there, thank you so much.
And that is QUEST MEANS BUSINESS. I'll be back at the top of the hour as we make up a dash for the closing bell. Up next, "QUEST'S WORLD OF WONDER."
RICHARD QUEST, CNN HOST (voice-over): From the polo fields of Argentina, again brought here by the British, in a very large clock tower in the heart
of BA, all evidence Argentina's European and specifically British past.
People from the U.K. came here to help develop the country. And those immigrants donated this mini Big Ben, that became known as the (speaking
Spanish) the Tower of the English. It was destroyed in the early 1980s, with the war in the South Atlantic.
In 1982, I was 20 years old, a student finishing university. I remember the war very clearly. The man I'm about to meet was also 20 years old.
But he was a conscript in the Argentine army. And he was being shipped off to what he calls the Malvinas.
MICHAEL SAVAGE (PH), ARGENTINIAN ARMY VETERAN (voice-over): I had no practice. I only had one day rifle practice. And I never thought they would
send me. So I told my mom that morning having breakfast, they are not sending me. I'm not a soldier. A week later, I was huddling in a peat bank
at the foot of Mount Langon (ph), one of the fiercest battles.
QUEST (voice-over): Michael Savage (ph) is proudly Argentinian. The product of Scottish and Irish grandparents, born here in Argentina, and one
of whom even fought for the British in World War II.
While I was safe and a student, Michael, untrained and ill supplied, was one of thousands of conscripts sent by Argentina's then military government
to invade what I call the Falklands.
QUEST: I remember the night Sheffield was sunk (ph).
SAVAGE (PH) (voice-over): Ah, yes. That was shortly after the begranna (ph) was sunk. So it was like England won, Argentina won, like a football
QUEST (voice-over): I am not here to rehash the war. I want to see it through Michael's eyes, on opposite sides, I believe it will help me
understand why nearly every Argentine still has such a emotional connection to the islands, perhaps because of stories like his.
SAVAGE (PH) (voice-over): We look like prisoners of a concentration camp. I had lost 22 kilos and my friends more or less the same. We had one that
died sleeping one night of exposure.
QUEST: And once the fighting began?
SAVAGE (PH): Yes, I kept asking myself, what the hell am I doing here?
There should be a professional soldier here, not me.
QUEST (voice-over): Eventually, Michael was taken prisoner and then repatriated to Argentina aboard a British cruise ship. He remembers
translating for his troops and meeting a regiment of British paratroopers, who they had just fought against.
SAVAGE (PH) (voice-over): I thought there would be a fight on the ship. But I was surprised by two or three paras talking with two or three of my
fellow conscripts. They talked about football. They talked about music, the British bands Genesis, Pink Floyd, Supertramp.
And they talked about girls, conversations that 20-year olds have normally. And that made me understand that wars are anonymous. When you engage into a
face to face human exchange, the war would be impossible.
QUEST (voice-over): It is in that spirit that Michael and I visit the memorial to the 649 Argentinians who died fighting in the war. I pay my
respects to them and the 255 of my own country men, who perished on the field of battle.
No matter how many memorials are built, how many never agains are said, war, it seems, won't go away.
QUEST (voice-over): An hour out of the capital and I am amongst grazing cattle.
QUEST (voice-over): Where the famous beef is reared on the pampas grass plains.
EVA BOELCKE, OWNER, EL OMBU (voice-over): Well, my grandfather bought the farm in 1934.
QUEST (voice-over): 1934?
BOELCKE: Yes. That was (INAUDIBLE) in our family. And when my father insist to keep it.
BOELCKE: And so we had to keep it.
QUEST (voice-over): Of course, Eva Boelcke kept El Ombu as her ranch or estancia, as it's called. Today, four generations on, there are now two
sources of income. Those on four lengths and more profitably, those on two.
BOELCKE: I like my cattle but the most important think are you, are the tourists.
QUEST: So the cattle and the guests?
QUEST (voice-over): The important paying guests like me come here to see a different way of ranching, one that is steeped in Argentinian tradition
honed by the Spanish and indigenous gauchos who tamed this land.
QUEST (voice-over): Eva's son Pablo grew up on the farm. We are doing it his way, the gaucho way. It is not a traditional saddle.
UNIDENTIFIED MALE (voice-over): No, no.
QUEST (voice-over): What's the difference?
UNIDENTIFIED MALE (voice-over): Yes, this is like a sofa. Really, when you have to work all day on a horse, it's very comfortable.
QUEST (voice-over): Hang on.
I would settle for merely staying on board.
So where is my trusty steed?
UNIDENTIFIED MALE: I have a horse for you.
No, we have Rose.
UNIDENTIFIED MALE: This one is Ramon's horse.
UNIDENTIFIED MALE: This one is your horse. Yes?
QUEST: She is looking a little more traditional, isn't it?
UNIDENTIFIED MALE: Yes, it's a different saddle (Speaking Spanish).
QUEST: Is it for beginners?
QUEST (voice-over): And we have gone back to exactly where we started.
QUEST (voice-over): Maybe it is the cattle, maybe it is the horse. It could be my compadres. I'm feeling gaucho.
It's beautiful. Absolutely glorious.
Forgive me, QUEST MEANS BUSINESS after all. So I appreciate that it was the gauchos that created the wealth that grew Buenos Aires. And thus placing
Argentina amongst the wealthiest nations in the early 20th century.
My horse, Rosa, knows little and cares less of her grand economic place in history. I'm on a horse and I know who's in charge.
The horses here are pretty much encouraged to only walk and then gallop.
Usually the wrong direction.
You are not going home. There you go. Come on. Let's go and get some cows. There we go.
UNIDENTIFIED MALE: If you do have barbecue here in Argentina, the people, they want this.
QUEST (voice-over): I'm a true city dweller, sometimes squeamish about the fact that the cow I was wrangling yesterday is on the grill tomorrow.
I do not want to start a worldwide debate. But here is the beef.
And is it the best in the world?
UNIDENTIFIED MALE: For sausage, you have some blood sausage, we have the chicken here. If you go to any house here in Argentina, they're going to
have really something small like this one or they're going to to have this system, no?
If you do want to have friends and you want to be together, they come and say, you want to hop on a saddle today?
Just a saddle just mean just come to my house (Speaking Spanish). and we will share a moment. Yes. That is very typical.
QUEST (voice-over): I want steak. I want steak.
QUEST (voice-over): And so to the test.
Does the best beef in the world come from Argentina?
Grass fed, lovingly raised, beautifully butchered, perfectly cooked. I don't know whether the best comes from Argentina. But it's bloody good.
The estancia is a fundamental part of Argentinian history and life. Maybe far removed from today's living. But coming here has widened and deepened
my understanding of this tremendous country.
A trip to the estancia is a perfect way to end a visit to Buenos Aires and so it's for the word that describes all of this, I think it is
invigorating. To be sure, Argentina has its challenges but there is a natural wealth and a human warmth that must be experienced.
So you will want to come here and be invigorated for yourself, Buenos Aires, no doubt part of our world.
ASHER: Hello, I'm Zain Asher and the dash to the closing bell and we are just two minutes away. It's been a choppy session for the markets ahead of
tomorrow's Fed decision. But it looks as though we are ending the day just basically flat, only up about 80 points or so.
The Dow is actually up nearly 300 points and it has practically given back all its gains. The S&P 500 and the Nasdaq are set to finish the day flat.
The looming interest rate hike from the Fed has put any major market moves on pause. The Fed is aiming to help combat inflation, a problem right now
all over the world.
In Europe rising prices are being exacerbated by the war in Ukraine. A Romanian MEP, Cristian Busoni, told me earlier that Europeans faced rising
prices long before the war.
(BEGIN VIDEO CLIP)
BUSOI: We already experienced an increase of prices in energy. And there is an increase of prices in electricity, in gas and, of course, an increase
of price in the fuels. This already puts a big burden after the COVID-19 pandemic, which of course, raised some important economic issues.
So it is very important that all the measures that we are taking will make -- will hit Russia more than would hit our economies.
(END VIDEO CLIP)
ASHER: Boeing is the big winner of the day on the Dow. It says there is strong financing in place for the commercial aircraft market. That has
helped push its shares up more than 3 percent. Nike is at the bottom. Its stock is down about 2.5 percent.
All right, that is your dash to the bell. I'm Zain Asher. The, closing bell is ringing right now. And "THE LEAD WITH JAKE TAPPER" starts now.