Kremlin signals no breakthrough after Ukraine talks with US

Summary

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Global News Podcast – “Kremlin signals no breakthrough after Ukraine talks with US”

Date: December 3, 2025
Host: Alex Ritson, BBC World Service

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Episode Overview

This episode covers major international developments, with a focus on the lack of progress in high-level talks between Russia and US envoys regarding the war in Ukraine. Other topics include South Korea's anniversary of thwarting a coup, election uncertainty in Honduras, devastating floods in Sumatra, Japan’s new work culture debate, Lugano’s push to become Europe's bitcoin capital, and a record-breaking Fabergé egg auction.

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Key Discussion Points & Insights

1. Ukraine Peace Talks: No Breakthrough (00:50–05:23)

• Context:
  US envoys Steve Witkoff and Jared Kushner spent five hours at the Kremlin on Tuesday, discussing a revised peace proposal for Ukraine.
• Kremlin’s Stance:
  • No “breakthrough”; negotiations remain confidential but were described as “useful, constructive and highly substantive.”
  • Main sticking point: Control of Ukrainian territories currently held by Russia.
• Dynamics:
  • Earlier drafts of the peace plan forced Ukraine to give up key regions, which was unacceptable to Kyiv and European allies.
  • Revised plans appear more moderate, but Russia's tone toward Europe remained aggressive.
• Putin’s Posture:
  • Putin accused European countries of “sabotaging peace” and threatened readiness for war if Europe desired it.
  • “If Europe wants war, then we're ready right now.” – Will Vernon quoting Putin, 03:59
• Strategic Analysis:
  • Both Russia and the US want a deal. Trump is seen as especially eager for a victory.
  • Russia continues to make slow advances, pushing time in its favor.
  • “Time is on the Kremlin side ... they can afford to sit it out and wait for a better deal.” – Will Vernon, 05:18

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2. South Korea: Anniversary of Coup’s Failure, Democracy Defended (15:16–18:26)

• Historical Context:
  One year since President Yoon Suk Yeol’s failed martial law declaration, South Korea marks the event with commemorations.
• President Lee Jae Myung’s Address:
  • Praised citizens for confronting armored vehicles and helping lawmakers.

    “The South Korean people confronted armored vehicles heading towards the national assembly with just their bodies.”
    – Alex Ritson, 15:16

  • Declared December 3rd a national holiday to honor the defense of democracy.
  • Called for “hard punishment” against coup organizers, comparing their actions to those of the Nazi Party.
• Current Developments:
  • Former President Yoon and key cabinet members are on trial for insurrection; sentences could include life imprisonment or death.
  • Societal divisions endure, as elements of the right justify the attempted coup.
• “This is one of the most serious charges in South Korean criminal law, and the punishment is either life in prison or death.”
  – Jake Kwon, 17:48

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3. Honduras Election Standoff & Presidential Pardon Controversy (07:57–12:00)

• Election:
  • Salvador Nasralla holds a slim lead over Nasri Asfura in a tense, slow vote count.
  • Rising tensions and uncertainty jeopardize stability.
• Ex-President’s Pardon:
  • Juan Orlando Hernandez, previously convicted of drug trafficking, received a full pardon from President Trump.
  • Critics note the hypocrisy, given Trump’s aggressive stance toward Venezuelan leader Maduro.

  “Despite the pardon, Juan Orlando Hernandez was found guilty of being at the very center of a conspiracy to bring in over 400 tons of cocaine into the United States while president.”
  – Alex Ritson, 11:13

• Public Perception:
  • Widespread confusion and head-scratching in Honduras regarding the pardon.
  • The Trump administration frames it as righting a political vendetta.

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4. Sumatra Floods: Humanitarian Catastrophe (05:23–07:57)

• Situation:
  • Over 750 dead; hundreds of thousands displaced.
  • Villagers trek for hours in search of clean water, food, communications.
• Eyewitness Testimony:
  • “The food is empty now in my region. Many foods not be distributed.”
    – Ludvig Ma Paung, 06:34
  • Distribution via military helicopters is inadequate, leading to hunger and chaos.
  • Disease risk is rising as floodwaters stagnate and bodies remain unrecovered.
• Call for International Support:
  • “Help my country, Ms. Help my country, Ms. It's very many people hungry now.”
    – Ludvig Ma Paung, 07:57

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5. Lugano: Europe’s Aspiring Bitcoin Capital (19:06–23:18)

• Experiment & Adoption:
  • McDonald’s, shops, and services in Lugano widely accept Bitcoin.
  • 11-day “Bitcoin only” experiment: successful for groceries and some services, but not public transport or paying bills.

    “It's missing public transportation at the moment, which is really important. Another one is fuel. Groceries are okay...but not a dentist.”
    – Mia Liponi, 20:29

  • Taxes and parking fines can be paid in Bitcoin.
• Community Response:
  • Some local skepticism: perceived association of crypto with crime and speculation.

    “I think it's associated to crime, to the dark web and speculation, like cryptocurrencies in general. A lot of people lose their money because they invest in it, and then it crashes.”
    – Lucia, 22:14

• Official Perspective:
  • Mayor claims mafia prefer “fiat” cash for laundering, not Bitcoin.

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6. Japan: ‘Work, Work, Work’ – New PM, Culture Wars (24:09–27:14)

• First Female Prime Minister:
  • Sanai Takaichi wants everyone to “work like a horse.”
  • She personally sacrifices work-life balance (only sleeps 2–4 hours).
• Cultural Tensions:
  • Mixed generational reactions; younger Japanese and working mothers uneasy about return to “overwork” era.

    “I don't think like a big prefer from her just one sentence like working so hard. But the problem is that more old generation think that her phrase is so welcome.”
    – Hiro, 25:45

  • Younger cohorts value balance and are more selective about employers.

    “Young people, young generation and women who need to care. Our young children wanted to work shorter than before. So just one comment won't change the society quickly.”
    – Hiro, 27:01

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7. Record Auction: The Winter Fabergé Egg (27:14–30:01)

• Auction Highlight:
  • Imperial “Winter” Fabergé egg sells for over $30 million at Christie’s, setting a new benchmark.
• Expert Insights:
  • Only 43 of 50 Imperial Eggs survive; this is one of just seven in private hands.
  • The egg’s rarity, exquisite craftsmanship, and imperial provenance fuel its value.

    “When you look at the winter egg, it's really hard to comprehend how they've made it. It's such a timeless design, and inspiration came from nature and it's really beautiful.”
    – Margo Oganisian, 28:51

• Public Interest:
  • Nearly 4,000 viewed it during the pre-sale exhibition.
• Buyer’s Identity Confidential:
  • Christie's is not disclosing the winner.

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Notable Quotes & Moments

• “If Europe wants war, then we're ready right now.”
  — Putin, relayed by Will Vernon, 03:59
• “Time is on the Kremlin side. Russian forces are advancing...they can afford to sit it out and wait for a better deal.”
  — Will Vernon, 05:18
• “Help my country, Ms. It's very many people hungry now.”
  — Ludvig Ma Paung, 07:57
• “Young people... wanted to work shorter than before. So just one comment won't change the society quickly.”
  — Hiro, 27:01
• “When you look at the winter egg, it's really hard to comprehend how they've made it...it's really beautiful.”
  — Margo Oganisian, 28:51

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Quick Timestamps for Key Segments

• Ukraine peace talks: 00:50–05:23
• Sumatra floods disaster: 05:23–07:57
• Honduras election and pardon: 07:57–12:00
• South Korea coup anniversary: 15:16–18:26
• Lugano bitcoin report: 19:06–23:18
• Japan's ‘work’ debate: 24:09–27:14
• Fabergé egg auction: 27:14–30:01

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Tone & Language

The episode maintains the BBC’s signature measured, accessible, and globally aware tone, offering clear analysis, poignant on-the-ground voices, and sharp expert insight across a range of major news stories.

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Transcript

[Alex Ritson]

This BBC podcast is supported by ads outside the UK.

[BBC News Presenter]

Looking for a gift that's both magical and meaningful. The Story Dream Machine is perfect for birthdays, milestones and holidays. Each machine comes with three stories and even includes a white noise nightlight mode for bedtime. It's a beautiful way to introduce a new generation to the stories you loved growing up. Get this magical and meaningful gift for your little one today. Available at Walmart, Target, Amazon, Costco and LittleTikes.com bring story time to life with the Story Dream Machine. Hello, it's Ray Winstone. I'm here to tell you about my podcast on BBC Radio 4, History's Toughest Heroes. I got stories about the pioneers, the rebels, the outcasts who define tough. And that was the first time that anybody ever ran a car up that fast with no tires on. It almost feels like your eyeballs are going to come out of your head. Tough enough for you? Subscribe to History's Toughest Heroes wherever you get your podcast. This is the Global News Podcast from the BBC World Service. I'm Alex ritson and at 0400 GMT on Wednesday 3rd December, these are our main stories. The Kremlin says there's been no breakthrough in talks to end the war in Ukraine, Russia on the anniversary of the failed coup in South Korea, President Lee Jae Myung praises those who saved democracy. Tensions are mounting in Honduras, where there's still no result from Sunday's presidential election. Also in this podcast there's a lot.

[Margo Oganisian]

Of workshops, there's a club to promote bitcoin and everything. I personally don't use any cryptocurrencies.

[BBC News Presenter]

The Swiss city aiming to become Europe's biggest bitcoin center. Donald Trump's envoy, Steve Witkoff, and the US President's son in law Jared Kushner, who both helped to secure a ceasefire in Gaza, were at the Kremlin for five hours on Tuesday for much anticipated talks with President Putin on ending the war in Ukraine. They were discussing President Trump's plan for peace proposals that appear to have been amended after lobbying by Ukraine and its European allies. Would President Putin accept the changes? One of his aides, Yuri Ushakov, said the negotiations with the two American envoys would remain confidential, but they were positive the conversation was very useful, constructive and highly substantive, and it lasted not for five minutes but for five hours. This allowed us thoroughly to discuss the prospects for further joint efforts aimed at achieving a long term peaceful resolution. And of the Ukrainian crisis, there's been no apparent breakthrough, even if the Kremlin said the door to a solution remained open. The big issue appears to be Ukrainian territory held by Russia, as the BBC's Will Vernon, who's reported from Moscow, explained.

[Will Vernon]

That does seem to be the kind of crucial sticking point in all this. And Mr. Ushakov said in his comments that the territorial question was discussed at the meeting. As you mentioned in an earlier version of this draft peace plan, Ukraine would have been forced to give large parts of the Donetsk region that it still controls, and that was unacceptable to, to the Ukrainians and the Europeans. So what was presented in this meeting, we think is a kind of amended or you could say even watered down version of the plan. Mr. Ushakov also mentioned that Vladimir Putin commented on, quote, the destructive actions of European countries over the Ukraine peace process. And Mr. Putin also quite indignantly criticized the Europeans before the meeting, saying that they basically are sabotaging peace. So you kind a picture of how these talks went.

[BBC News Presenter]

Yeah, quite scary. Saber rattling towards Europe.

[Will Vernon]

Yes. He said that if Europe wants war, then we're ready right now. And what critics of Mr. Putin and Mr. Trump, in fact, would say this shows that Vladimir Putin thinks he can do a deal, wants to do a deal, is perhaps maneuvering to do a deal over the heads of the Ukrainians and the Europeans directly with Mr. Trump, a deal that's favourable to Russia and is definitely not favourable to the Ukrainians.

[BBC News Presenter]

Yeah. Because although Russia has said that no comprom compromise has been reached, the process. Well, it's not over, is it?

[Will Vernon]

No. The Kremlin said that contacts will continue. Look, I think all sides really want to do a deal. We know how keen Mr. Trump is to do a deal, to claim a win. In fact, you know, his critics say that he's perhaps too eager to do a deal and that the Russians know that. And, you know, Mr. Putin does what Mr. Putin always does, and that is go in from the outset with maximalist demands, knowing that that is more likely to kind of yield results that are more favor to Russia later on. And, you know, time is on the Kremlin side. Russian forces are advancing on the battlefield, although pretty slowly. The Ukrainians are losing ground. They have a manpower shortage. And also the Kremlin doesn't have to worry about pesky things like upcoming elections, which Western governments do have to worry about. So, you know, they can afford to sit it out and wait for a better deal.

[BBC News Presenter]

Will Vernon, we want to bring you an update on the floods and landslides on the Indonesian island of Sumatra with a voice from the heart of the devastated region Officials now say more than 750 people have died and hundreds of thousands have been evacuated from their homes. Villagers have told the BBC they've had to walk for hours to find clean water, rice, or a phone signal. We managed to get through to one man living in North Sumatra, Ludvig Mapu Ong, who sent us some videos, and they're pretty shocking. In this one, you see a road transformed into a raging river. Well, Ludwig told us he didn't speak much English, but what he did tell my colleague Rebecca Kesby about the plight facing him and others in his vicinity was very powerful. The road is broken in my region. So many people hungry. Electrical is blackout. The food is empty. Now in my region, many foods not be distributed to my country.

[Rebecca Kesby]

You're saying that the road is impassable. Nobody can get through on the road. There's no power, and you're running out of food in that area.

[BBC News Presenter]

The food distributed by helicopter. So many people in my region will be hungry for two or three days.

[Rebecca Kesby]

I know that the military are trying to drop food by helicopter, as you say, but we've also heard that people have got so desperate, there's actually been some looting and some people have been injured in the scramble to get through to whatever aid is being distributed.

[BBC News Presenter]

The situation now is chaos. Many citizens is hungry.

[Rebecca Kesby]

Is there a fear that there could be disease spreading as well? Because when there's a lot of flood water and possibly, you know, dead bodies in the water, that could be a health risk, couldn't it?

[BBC News Presenter]

Yes, yes.

[Hiro (Japanese office worker)]

Ms.

[BBC News Presenter]

The government now find many helpers to put food in this area. So the government work fast in my area so people can be connected to another area.

[Rebecca Kesby]

Ludovic, good to speak to you. I'm so sorry you're going through this. Good luck with it, and thank you so much for helping us understand the situation there.

[BBC News Presenter]

Help my country, Ms. Help my country, Ms. It's very many people hungry now. Many people hungry. Ms. Help me help our Aramis Ludvig Ma Paung. In Indonesia, the Liberal candidate Salvador Nasrallah has taken a narrow lead in the presidential election in Honduras, with just over 60% of the vote counted, he's slightly ahead of his conservative rival, Nasri Asfura. Votes are being counted by hand. The delay in the results following Sunday's election has caused rising tension in Hondiras, and meanwhile, the country's former president and convicted drug trafficker, Juan Orlando Hernandez has been released from jail in the United States after receiving a pardon from President Trump. A lawyer for Mr. Hernandez Renato Stabile was asked whether the former leader would remain in the U.S. i think it's premature to figure out what he's going to do next. His name is clear. He received a full and unconditional pardon from President Trump. So there is nothing left. It has been wiped away completely and absolutely in terms of what he's going to do next. Like I said, I think it's just too early to tell. I don't know if he's going to return to politics. I don't know what his next thing is going to be. Our Central America correspondent Will Grant joined us from the Honduran capital, Tegucigalpa. First, the pardon. Why was he freed from prison?

[Alex Ritson]

I think, in essence, because Donald Trump has been persuaded of the argument that Mr. Hernandez's family has been making since the moment he was arrested in 2022, that this was all some kind of politically motivated attack against him. It was revenge, supposedly for having clamped down on drug traffickers himself, and that the entire case was just simply built on the testimony of convicted criminals and didn't stack up. The key, in terms of Mr. Hernandez's family, was getting that argument to Donald Trump and then him agreeing with it to the point that he would issue a pardon. They have managed to do that, in part with support from key MAGA figures, to actually bring the case to Mr. Trump's attention.

[BBC News Presenter]

It does seem like a contradiction, though, for Mr. Trump to be releasing a convicted drug trafficker while at the same time using what you might call gunboat diplomacy over supposed drug trafficking in Venezuela.

[Alex Ritson]

And that has been noted not just by journalists, but also by members of Congress, members of the Senate. Questions have been raised by, of course, by people on the streets of Tegucigalpa around Honduras who are scratching their heads and wondering how this makes sense. The argument from the Trump administration from that is that there is a key difference, that, in essence, Mr. Hernandez was, as Donald Trump himself put it, set up by the Biden administration, whereas Nicolas Maduro in Venezuela has a slew of allegations and indictment waiting for him over his own involvement in the supposed cartel, the cartel, Cartel of the Suns. Now, the difference for many ends up being more political than actual because, of course, despite the pardon, Juan Orlando Hernandez was found guilty of being at the very center of a conspiracy to bring in over 400 tons of cocaine into the United States while president.

[BBC News Presenter]

Well, while we have you the election, when are we going to know the result? And are Hondurans feeling nervous about the outcome?

[Alex Ritson]

They are feeling nervous. It's been going on now since Sunday night, once polls closed, it is still on an absolute knife edge. It is getting there. So two thirds of the votes have been tallied. As you said in your introduction, the former Vice President Salvador Nasralla now has a very slender vote over Nasri as Fora, who's Mr. Trump's favoured candidate. But there's still a good number of votes left to go that control. That lead could change hands yet again.

[BBC News Presenter]

Will Grant In Honduras, the most popular English language articles of 2025 on Wikipedia have been revealed by the Wikimedia foundation. The top 20 most read pages span politics, religion and entertainment. Our technology editor Zoe Kleinman has the details.

[Zoe Kleinman]

The US conservative activist Charlie Kirk was Wikipedia's most read page of 2025, viewed nearly 45 million times. In the 24 hours after his murder in September, the page was viewed an aver 170 times per second. Second on the list was Wikipedia's ongoing compilation of 2025's notable deaths. But two names on that list, Ozzy Osbourne and Pope Francis, had their own places in the top 10, with nearly 18 million viewing Wikipedia's article about the late Black Sabbath frontman. The entry about Pope Leo, who was appointed in May, was read over 22 million times. The top 20 most popular pages skews heavily towards American personalities, with President, Vice President JD Vance, YouTuber MrBeast and the multi billionaire Elon Musk all on the chart. The page for Zoran Mamdani, the newly elected mayor for New York, received only 60,000 fewer views than that of the Tesla boss. There are no individual women amongst them, but there are two superhero movies, Superman and the Fantastic four First Steps. The articles on the TV series Adolescence and Severance were also accessed by millions. Wikipedia marks its 25th birthday next month and has a global team of 250,000 volunteer writers and editors.

[BBC News Presenter]

Zoe Kleinman still to come, the winter.

[Margo Oganisian]

Egg is one of 50 Imperial Easter eggs that Faberge created for the Romanovs. Only 43 still exist. I think it's the best. It's a true masterpiece. Absolute Joy.

[BBC News Presenter]

A Faberge egg commissioned by Russia's final tsar sells for a new record. Hello, it's Ray Winstone. I'm here to tell you about my podcast on BBC Radio 4, History's Toughest Heroes. I got stories about the pioneers, the rebels, the outcasts who define tough. And that was the first time that anybody ever ran a car up that fast with no tires on. It almost feels like your eyeballs are going to come out of your head. Tough enough for you subscribe to History's Toughest Heroes wherever you get your podcast. South Korea is a young democracy, but admired across the globe for its vibrant politics. But a year ago, the country descended into political chaos when the then President Yoon Suk Yeol tried to impose martial law. It failed in part because thousands of people came out onto the streets of the capital Seoul to stop the soldiers. To commemorate the anniversary, the man who's now South Korea's President, Lee Jae Myung, praised residents who'd come out to defend democracy.

[Alex Ritson]

The South Korean people confronted armored vehicles.

[BBC News Presenter]

Heading towards the national assembly with just their bodies.

[Alex Ritson]

They protested against the police who'd blockaded parliament and helped lawmakers climb over the assembly fence so they could fulfil their constitutional duties. It was thanks to the people stepping forward themselves that the national assembly was able to vote to lift martial law.

[BBC News Presenter]

And our military faithfully complied with that decision under democratic civilian control. President Lee Jae Myung also warned that there is still much to do to ensure the events of one year ago do not happen again. Our Seoul correspondent Jake Kwon spoke to me from outside South Korea's national assembly and told me more of what the President had to say in his national address.

[Jake Kwon]

Well, he was saying that, you know, today needs to be commemorated. He said that he will make December 3rd the national holiday so that people in the next generation can remember how the Korean people had valiantly fought to keep the democracy. And he said that South Korean people also deserves a Nobel Peace Prize for their valiant effort. At the same time, he changed gear a little bit, saying that there needs to be a heart punishment against those who what he described as designers of the coup d' etat and the insurrection yesterday. He said that those who had organized this needs to be punished, like what had happened to the Nazi party, which are quite strong words from him. And this is something that he had compared to a wound that needs to be cut out of the South Korean society. There has been some of the the elements of the South Korean right who had justified the martial law, who the main opposition party still haven't fully divorced itself from the former President who launched the martial law attempt. So, you know, there are signs to suggest that this divide seems like it is entrenching itself.

[BBC News Presenter]

Of course, former President Yun was forced from office and put on trial. Where are we in that process?

[Jake Kwon]

Well, the President, Yoon Suk Yeol, former president, is now standing trial for five different charges, as well as the former first lady and many members of his cabinets have been arrested or have been indicted. And this is a trial that has been going for months now. Now we're going to see the result of one of the first trial against his prime minister for not being able to stop the, you know, the charge being insurrection. And we're going to see the result around next month that is going to be the first kind of result of this whole insurrection trials. And that will kind of give us a steer on what will be the verdict on the rest of President Yoon and his cabinet. But, you know, this is one of the most serious charges in South Korean law, criminal law, and the punishment is either life in prison or death. So, you know, this will be a very much a big, like, historical moment in South Korea's democracy. But the result, we may not see it for many months and it is surely expected to go all the way up to the Supreme Court.

[BBC News Presenter]

Jake Kwon and for more on one of today's big stories, you can go to YouTube, search for BBC News, click on the logo and then choose Podcasts and Global News Podcast. There's a new story in Vision available every weekday. The Swiss lakeside city of Lugano is aiming to attract businesses and investment by becoming Europe's Bitcoin capital. You can still pay for everything in Swiss francs, but in hundreds of shops and restaurants, you can use Bitcoin instead. Our reporter John Laurenson went to check it out.

[John Laurenson]

In a McDonald's by the lake in the centre of Lugano, a customer orders coffee. The salesperson holds up what looks like a credit card payment terminal, but which is in fact a special crypto one, distributed free to businesses by the town council. The customer pays contactless from the Bitcoin wallet on his telephone. [phone]. It comes to a figure constantly changing because of the currency's notorious volatility. Bitcoin, this purely digital currency that uses encryption to control, manage and issue units, as opposed to so called fiat money used by central banks or governments. People often buy it as an investment, a gamble, in other words, on its value going up as opposed to down, as it has quite a lot recently. But how many even think about using it to buy actual things like a diamond ring or a pizza? Well, in Lugano, it's different.

[Margo Oganisian]

I want to talk about an experiment I did this July.

[BBC News Presenter]

I have a problem with my bank.

[Margo Oganisian]

I had to live in bitcoin only for 11 days.

[John Laurenson]

Mia Liponi runs the Plan B hub, a meeting place for people who work in the Bitcoin sector.

[BBC News Presenter]

You can survive here in Bitcoin only.

[Margo Oganisian]

It's missing public transportation at the moment, which is really important. Another one is fuel. Groceries are okay. I got things delivered at home, even plenty of medical places, but not a dentist. And another big things are bills.

[BBC News Presenter]

You cannot pay bills with bitcoin, although.

[John Laurenson]

You can pay for municipal services. If you get a parking fine, you can. You can pay it in bitcoin.

[Margo Oganisian]

Yes, you can also pay taxes in.

[John Laurenson]

Bitcoin, which is probably not why bitcoin enthusiasts move to this town, but still. I wander along the lakefront and into a park where there's a square block of metal, a plinth, upon which stood a statue of Satoshi Nakamoto, the mysterious person who brought bitcoin into being in 2009. Playing on the mystery, the statue, made of slats of metal, is transparent when you look at it from the front. And it is now completely invisible, because this summer some equally anonymous individual or individuals unscrewed it, broke it into bits and threw it in the lake. Not everyone here, it seems, is keen on crypto. In front of the empty plinth, I get talking to a few passersby like Lucia.

[Margo Oganisian]

It's interesting because not that many things get vandalized around here.

[John Laurenson]

So this is a quiet place.

[Margo Oganisian]

Yeah, people are usually fairly well behaved. And you don't see often people having very strong political opinions either. Like, I'm from the University of Lugano and there's a lot of workshops, there's a club to promote bitcoin and everything. I personally don't use any cryptocurrency, so I don't feel like it impacts me at all. But I do find it surprising that institutions such as my university would promote it so much. I think it's associated to crime, to the dark web and speculation, like cryptocurrencies in general. A lot of people lose their money because they invest in it, and then it crashes.

[John Laurenson]

I asked the mayor, Michele Folletti, if he is concerned that Lugano will become a mafia magnate.

[BBC News Presenter]

No, because mafia people are more interested to use Fiat for money laundering. And the risk for Switzerland is this with the Swiss franc, not with the Bitcoin. Because when they sell drugs or something like this, they receive Fiat money, not Bitcoin. Because the most anonymous is the cash. You can use fiat money or do something good or something bad. The same with bitcoin.

[John Laurenson]

Lugano is, though, a bitcoin magnet, with almost 110 crypto sector companies moving or starting up here.

[BBC News Presenter]

John Laurenson with that report. Work, work, work, work and work. That was the election phrase of Japan's new prime minister, the first female in the job Sanai Takaichi. She's pledged to abandon her own work life balance for the duration of the job. She famously only sleeps for around two to four hours a night. But she's also said I will have everyone work like a horse. Japan already has a reputation for long working hours. The work slogan has just won Japan's catchphrase of the year. Rebecca Kesby has been talking to one young mother in Japan. She's an office worker and only wants us to use her first name hero. So what does she make of it all?

[Hiro (Japanese office worker)]

Our generation was surprised and a little bit shocked.

[Rebecca Kesby]

Can you explain that a little bit for us? Because I know in the past, I mean there's even been. There's a word for it, isn't there? Is it Karoshi Death from overwork has been a thing or that's like been discussed in Japan and such long working hours for many decades. And there was a move, wasn't there to try to reduce that and to give people a better work life balance. Especially people like you trying to bring up children.

[Hiro (Japanese office worker)]

Yes, I think the nowadays conditions in Japan working hours has become considerably shorter. In case of me, nearly 10 years ago it was quite common to work from 7am until 11pm Sorry, from when?

[Rebecca Kesby]

7Am until 11pm 7am till 11pm for.

[Hiro (Japanese office worker)]

Me, for me and my colleague working like that and so hectic. But I now get home before 6pm Especially since I have a child. My company is considerate toward me. That said, many of my colleagues still work overtime.

[Rebecca Kesby]

What about specifically the gender issue? Because obviously she's the first female prime minister and no doubt lots of of women, you know, thought that would be a good thing and, and lots of women in Japan have felt forced out of the workforce when they've had a child because it's so difficult to try and balance the two things. Do you think this will turn off female voters?

[Hiro (Japanese office worker)]

Many people think that because she's prime minister, prime minister needs to work so hard to change our country. So some people accept the phrase from her but in case of me I don't think like a big prefer from her just just one sentence like working so hard. But the problem is that more old generation think that half raise is so welcome.

[Rebecca Kesby]

Do you think there is a sort of generational gap then?

[Hiro (Japanese office worker)]

Yes. So like our generation 30s we understand that work in hall culture but younger generation really valued the work life balance and work style reforms are progressing within large corporations. So young people are increasingly reluctant to join companies where work life balance is.

[Rebecca Kesby]

Not properly established and politically do you think this is a message that will get support?

[Hiro (Japanese office worker)]

I understand this is only her message for herself. So we believe and we hope this is only herself.

[Rebecca Kesby]

So you're basically saying she can work however hard she wants, but, you know, as long as she doesn't make the rest of us do the same, especially.

[Hiro (Japanese office worker)]

Young people, young generation and women who need to care. Our young children wanted to work shorter than before. So just one comment won't change the society quickly.

[BBC News Presenter]

That was Hiro, a young mother in Japan. Now, let me tell you about the winter egg. It has wood anemones carved from white quartz and is just sold at Christie's auction house in London for more than $30 million. I should say that price includes fees and it's much higher than the previous auction price for a egg. The winter egg once belonged to the Russian imperial family and was commissioned from the house of Faberge in Saint Petersburg by Tsar Nicholas II in 1913. Margo Oganisian is from Christie's and she's been speaking to James Kumarazamy.

[Margo Oganisian]

The winter egg is one of 50 Imperial Easter eggs that Faberge created for the Romanovs. But out of those 50, only 43 still exist, and most of them are in museums. And so, in fact, the Winter rack was one of only seven imperialist racks left in private collections. Incredibly rare piece and a rare chance to acquire such a rare work.

[BBC News Presenter]

What does it look like?

[Margo Oganisian]

The winter egg is carved from rock crystal. Quite a fragile stone, but the craftsmanship is amazing. If you look at the egg, it opens. Inside there is a basket of spring flowers which symbolizes the revival, the spring that comes after winter. And the egg sits on a beautiful base which looks like mel, also carved from rock crystal.

[BBC News Presenter]

And what is it about the egg that is so attractive to collectors?

[Margo Oganisian]

The rarity and the provenance? The fact that it was made for the Romanov family and that was a gift from Nicholas II to his mother. Secondly, craftsmanship, I think that's what is really known for and that's what collectors really appreciate. When you look at the winter egg, it's really hard to comprehend how they've made it. It's such a timeless design, and inspiration came from nature and it's really beautiful.

[BBC News Presenter]

And the fact that one has not been up for sale for more than 20 years. What was the sense of anticipation like, do you think?

[Margo Oganisian]

Well, there was a huge amount of excitement on the market. And in fact, over the six days that we were open for public viewing, we had nearly 4,000 people came to see it and lots of excitement on the market, but also among the general public who wanted to see this masterpiece because things like that do not come up very often. Most of them are in museums. It was great.

[John Laurenson]

This one.

[BBC News Presenter]

Has it gone to a private collector?

[Margo Oganisian]

We are not commenting at this time, so we will see if the buyer would like to make it public. But at the moment it's confidential.

[BBC News Presenter]

If it were my egg, I would gaffer tape it to the wall. Margo Ergonisian from Christie's Auction House and that's all from us for now. But there'll be a new edition of the Global News Podcast later. If you want to comment on this podcast or the topics covered in it, you can send us an email. The address is globalpodcastbc.co.uk. you can also find us on X@BBC World Service. Use the hashtag globalnewspod. This edition was mixed by Russell Newlove and the producer was Mickey Bristow. The editor is Karen Martin. I'm Alex Ritson. Until next time. Goodbye. Hello, it's Ray Winstone. I'm here to tell you about my podcast on BBC Radio 4, History's Toughest Heroes. I got stories about the pioneers, the rebels, the that car should define tough. And that was the first time that anybody ever ran a car up that fast with no tires on. It almost feels like your eyeballs are going to come out of your head. Tough enough for you? Subscribe to History's Toughest Heroes. Wherever you get your podcast.