Skip to main content

tv   Business - News  Deutsche Welle  March 15, 2022 3:45pm-4:01pm CET

3:45 pm
taking its whole on trade like in moldova, some farmer say they can no longer get their products to market. hello, welcome to the show. i'm super jersey and berlin. germany's dependence on russian gas has put the country in an awkward position. stopping in ports would close a major revenue source for moscow could, would also have wider consequences for the german economy. as was the environment. among them a returned to coal, a fossil fuel that berlin hoped to leave behind. but the end of the decade. this open cast mine in eastern germany produces around 8000000 tons of leak night every year. it's taken straight to the nearby coal fired power plant on conveyor belts. that was all supposed to stop in 2028 due to environmental concerns. but now germany is looking at keeping its plants running beyond then after those are due, are still a long way from completely renewable energy supply hosario. so we look at ourselves as a way to close that gap was and as a compliment to renewable energy,
3:46 pm
would you say there are clear deadlines and laws governing the phase out of coal out of union? glad we're not celebrating that. we might still be on line after the deadline. we're a little worried about the current energy supply situation. 200 people, homes long. 2 of the 6 blocks in the power plant were scheduled to be shut down this year. and next they've only been running on standby for some time, but they still undergo regular maintenance and checks that ensure they could be ready for use again within a very short time. the only thing missing is the staff needed to run them. to show me that the moment there are only 2 or 3 people working there at a time, but to run the technology, we need around a 109 people and we need to get them here. but we've got a plan for that and we place the calls, then everything's ready to go in 10 days on us from to them. so far though, it's not clear if and when the flow of russian natural gas will be stopped in germany and europe. and whether coal fired power plants will be restarted, the environmental is green party is one of germany's coalition partners. and so far
3:47 pm
it hasn't been ready to give up. it's ambitious planned to face out coal by 2034 on a grim is an economist and member of germany's leopold gina. that's a scientific academy who's analyses are often consulted by policy makers and berlin . i asked her if germany could handle a sudden stop of gas imports from russia. i think in it you could be managed, but it is of course, a severe burden also for the german economy. then on various studies that have looked at the scenario of the supplies of a rush and got some of this deal with the security of supply up energy supply and others with economic impact of a supply of rushing gas at the bottom line is that it is feasible without getting cold in the household, but it would have significant economic consequences. and in the short term, there might be high financial burden and individual energy suppliers that can can
3:48 pm
lead to cascading effects. so preparations must be made in order to support critical utilities and especially to prepare the next winter without russian gas. ok, so high economic cause financial cause and then also environmental costs. many would say that they're opposed to a coal being use in the short term. is that something that has to be taken into account as well? yeah, and if a supply stop, fresh and gas would come, we would get through the next winter without gas but that russian gas, but it would be very challenging. so as scenario would for the coming winter must be prepared today. we would have to put your gas on the world market and corporation was partners worldwide, and the gas volume should be sufficient to secure supply were gas cannot be
3:49 pm
substituted. but for example, in electricity generation, we would have to substitute a gas fired power plant by cold fired power plant that could be used more extensively on the transitional basis to safe gas wherever possible. and also the extending use of nuclear power should be considered as an option in my opinion. but this has already been turned down by the government. more over, of course, we have to count on energy efficiency measures. gas consumption should be a bit you wherever possible, in order to get to was next winter. so it will be challenging. ok, so, so coal as a substitute for electricity generation. there are, however, industries in germany and throughout europe that rely on gas for their processes. i'm thinking of the chemical industry, for example, there would be no way for them to avoid shutting down in part or at least curbing
3:50 pm
some of their activities. if there was a full stop of gas, is that correct? there's no. busy way to provide that gas in the short term through l and g. this is true, i think we have to an account and saving gas wherever possible and protection could be effected to at least some extent. how extensive the restrictions, what b is difficult to predict, because it depends on the progress inefficiency and on the progress in substituting gas in other applications. and even the high energy prices that we have observed now for a while and that will remain for a while a post challenges to the energy intensive companies. we are already seeing that product has been cut back in some cases. and of course, this will continue independently of a delivery stop of russian gas. so an exclusion of russian gas would be manageable. do you think it is too much of an imposition for german
3:51 pm
businesses economy and households, or is it manageable? and i understand part of that is a political question as well. yeah, this is certainly a political question. i think political security in europe to guide this decision. it would be that it is necessary from a security policy point of view. and what economics can do is to assess the possible effects and proposed measures in order to impede very detrimental. because kate's that could occur at the beginning of a gas stop. and i think as the studies are done, we have to prepare in any case because either the west comes to the conclusion that this is an appropriate measure. are russia comes to the conclusion to stop delivery . so we should be prepared for that case. in any case, all right, for article gram,
3:52 pm
she's an economist and she's a member of the layer patina academy. thank you very much. the war and the subsequent sanctions against russia have sent commodity prices for gas and oil. for example, skyrocketing in recent days. it's also driven up prices for other commodities. one raw material in particular has been on a rocket, right? you can find eating coins, stainless steel, electronics, electric car batteries. it's nico the 5th must abundant element on earth. and now the protagonist of a never before seen global pricing crisis ignited by the ration invasion of ukraine . in 2021, russia was the wards, largest exporter of refined nickel. while the e. u and the u. s. evans targeted the material with sanctions global buyers, frenzied to look for alternative sources, sending prices through the roof. on february 24th,
3:53 pm
the day of the invasion nichol reached the already high price of $26000.00 per ton . in early march pricing started rising steadily. spike into $100000.00 on march 8th before settling at $80000.00 burton. the london metal exchange which sets global prices for industrial nickel, halted all transactions for the whole week. with an unprecedented decision, it also canceled all trades from march 8, capping the price at $48000.00. the nickel crisis sent sparks flying through the whole industry. chinese tie combs, young wanda, who bet on michael price is falling. now has to find a way to bailout his company since sean holden, as it struggles to cover short positions worth around $8000000000.00. the pressure on the industry so high that even vladimir baton in the head of russian mining giant nor nickel fell the urge to common in an interview with russian brit custer,
3:54 pm
r b. c. a warned against russia responding by seizing western properly as it would take the country back to the isolation of a century ago with all over. so let's look at them with those. the blue, the recovery on the russian economy will depend on the death of the crisis. we enter radio sham, the sooner this the situation is resolved and the sooner normal dialogue with partners resumes the softer the consequences for our country. willoughby knowledgeable bosley, if the luscious lung snar nickel is another example of how the invasion of ukraine is playing against russia's economic interests. but it's far from clear that increasingly nervous stance of tycho's like baton, and could bring pressure on vladimir putin to end the war. and now to some of the other business news making headlines, the head of the largest american natural gas producer, e q t says the u. s. could raise exports of natural gas to europe. enough to make up
3:55 pm
for any loss and deliveries from russia. european leaders are looking to liquefied natural gas, in particular, as a likely replacement for russian supplies. the european commission has strapped its growth target of 4 percent for this year. the russian invasion of ukraine will weigh on the blocks economy. but the resulting higher energy and raw material prices aren't expected to completely derail recovery from the corona virus pandemic . the cranium port odessa has long been an important crossing point for goods traveling to and from russia. for example, it's a key stop off for goods bound for russia from ukraine's neighbor, moldova. now the war means that moldova, nes, had been cut off from a critical trait up apples upon apples. the farm used to export about 90 percent of them to russia, mostly through the ukrainian port of odessa. only 60 kilometers away. that route is now closed due to rushes attack on ukraine. life has changed dramatically for
3:56 pm
moldova as a result of the war. and long and my will ship in this area, we produce mostly apples, grapes and grievances full, to teach it. and yet the conflict in ukraine has a big impact on our exports via odessa war by road to the russian federations for bottom line, especially apples and grapes. when my departed typical economy, my take him, us now this is impossible. alt open that and figure out channels my little i mean, and we're looking for alternative ways to export like such as through romania, c o m k, d explore in romania. but the nearest port in romania is not 60, but over 400 kilometers away. other trade relationships, for example, with germany are still in their infancy because moldova lives directly on the border with ukraine. more and more refugees are arriving. the country has already taken in over 300000. among the aide being distributed are the apples that can no
3:57 pm
longer be delivered to russia due to the war. and that's it for me and the dw business team here in berlin. you can find out more about these and other stories online. d, w dot com slash business. we're also on youtube under the d. w. news channel to watch. ah ah, with with
3:58 pm
a pulse with the beginning of the story that moves us and takes us along for the ride. it's all about the perspective. culture information is, is d w news and more d w made from mines. o ah
3:59 pm
ah, they've had a for decades the people of iraq countries devastated. and there's no end to the violence. how did it come to this group this is revealed and unprecedented story. wait, he behaved exactly like the government and the poison spread. bear with me 3 new life. the great documentary series iraq destruction of a nation. this week on d. w.
4:00 pm
ah, this is a w news live from by laying rushes, bombardments of ukraine edges closer to the center of the capitol, new stripes on residential areas of cave, cause death and destruction. mad. vitale, politico says it's a difficult and dangerous moment. but also report from the besieged ports of malia, paul by traumatized. residents are running out of food under water. many thousands remain trapped. to bring you a bold act of defiance as a russian journalist protest against the countries war live on the state run the tv needs and.


info Stream Only

Uploaded by TV Archive on