President Joe Biden: We can both operate in the mutual self-interest of both Russia and the U.S.
Published Date: 1/25/2021
Source: CNBC Television
President Joe Biden answers reporters questions during a press briefing on American manufacturing. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi Russia saw widespread protests against President Vladimir Putin at the weekend, with demonstrations involving tens of thousands of people and taking place in as many as 100 cities. Experts say the protests, mainly in support of arrested opposition leader Alexei Navalny but also attracting members of the public angry at corruption and injustices in Russia, could be more significant than previous unrest. “It’s tempting here to take the Kremlin narrative that these (protests) were relatively small scale and are not backed by the wider population — hence will go nowhere,” Timothy Ash, a senior emerging markets strategist at Bluebay Asset Management, said on Monday. “Indeed, there have been similar protests back in 2011, in 2015 following the murder of Boris Nemtsov, and in 2019 — which all went nowhere ... But something feels different this time around,” he added. Here’s CNBC’s guide to what’s going on in Russia and why it matters. What’s going on? Protests took place across Russia on Saturday, and were principally in support of arrested opposition leader Navalny, a prominent anti-corruption campaigner and critic of Putin. In Moscow, at least 40,000 people were estimated to have participated in an unauthorized rally. “More than 40% of attendees were first time protesters, and demonstrations occurred in over 100 cities, including places like Sevastopol and Kemerovo, where overt anti-government activity is rare,” Daragh McDowell, head of Europe and principal Russia analyst at Verisk Maplecroft, said. Police reportedly detained more than 2,500 people in the Russian capital. Why did protests take place? Navalny’s detention, and an investigation into a Black Sea residence that has been dubbed “Putin’s Palace” by Navalny’s organization, are the main factors behind the protest. Navalny was detained on Jan. 17 immediately upon his return to Russia from Germany, where he had been treated following nerve agent poisoning last August. Putin was accused of being behind the poisoning; the Kremlin denies any involvement. Navalny was accused of parole violations, but accuses the state of creating trumped-up charges against him. What is the ‘Putin’s Palace’ video? Since Navalny’s arrest, tensions have risen further after his team released a video in which it alleged that Putin had a luxurious palace built on Russia’s Black Sea at a cost of $1.37 billion, and allegedly financed by associates of Putin and what they claimed was “the biggest bribe in history.” Putin has refuted the allegations, saying on Monday that the palace does not belong to him or his family, Reuters reported. He also said that the film was a “brain wash” and “boring.” Still, the video has been viewed more than 87 million times on YouTube, giving allegations against Putin mass exposure, and potentially embarrassing Russia’s strongman leader at a time when millions of ordinary Russians are struggling with the coronavirus crisis and its impact on the economy. Navalny’s team said he had recorded the video before his return to Russia but had immediately released it on his detention, as they called on the public to join protests on Saturday afternoon. “Alexei is always fighting for our rights, and now we must fight for him. Vladimir Putin is obliged to answer for all his crimes,” his team said on YouTube. » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC https://www.cnbc.com/select/best-credit-cards/ #CNBC #CNBCTV