made at my age, i don't think there's much charge of the back in america to say another one. so today was the day when i wanted to see the launch go up. i want to say a man space launch go on this so much to explore. so much unknown. yeah, i mean, we talk about our world and you know what, we haven't yet found your bottom of the oceans as top of the mountains. i'm space is infinite. you out there is a node. what a, the team is set to arrive at the international space station on saturday. and despite being tourists, though, spend 8 days conducting scientific research on landing lake to port victoria gate and b al jazeera. ah. clare again, i'm fully battle with the headlines on al jazeera ukraine says a missile attack on chromatic strain station in the east was deliberate slaughter,

and he 52 people, were killed. many of them children, thousands had been helping to bore trains to safety on tens of thousands of people, his cell trapped in several besieged ukrainian cities. ukraine and russia have agreed on more humanitarian corridors to evacuate them. a man can ask more nat from keith. the deputy prime minister oliver shook has announced 10 new humanitarian corridors to be opened. these corridors have been used in the past before, but has been very difficult getting people out. now they do this in 2 different ways. they sometimes send bosses that's the preferred way. you can get more people out more quickly using those buses. but oftentimes, as bosses haven't been able to get into tails, like mario poll for example, and so they returned back empty. so now in negotiation with the russians, they're allowing people to come out using private cars, but even that is highly dangerous. the european union has promised to speed up the process of making ukraine a member of the block,

a commission president also lavonne de leon made the comments during a visit to keep in other news, at least one person has been killed in 13 others injured after these really ami radiate a palestinian refugee campaign jeanine in the occupied west bank. is there any forces or aiming to arrest a father? palestinian man killed 3 people in an attack in tennessee on thursday. after days of political turmoil, pakistan's parliament is reconvening to debate. removing prime minister iran con from office opposition party say they have the votes asked can, but accused him of trying to delay proceedings. and other protests has taken place in sri lanka, demanding the resignation of the president. good by roger pox is blamed for failing to tackle the country's worst economic crisis in more than 70 years. shortages of essential fuel and power cats have provoked almost daily demonstrations for more than a month. those are the headlines. join me next on counting the costs they with us. oh, april cents. we'll see french folks to go to the polls with the cost of living crisis

and the war in ukraine looming load them. i know my boy is widely expected to win it, but how much ground can the fall, roy, can't they marine the pen? i know this game follow the french election on our to 0. i, i hello, i'm fully back to bo, this is counting the costs on al jazeera, your weekly look at the world of business and economics this week, unleashing a torrent of crude oil present. joe biden orders what he says is the unprecedented release of u. s. oil reserves. how will that affect markets, and will it help cut prices at the pumps? also this week, what if russian gas tops i turned off germany is one of the

e. u members, most reliant on supplies and is particularly vulnerable. so can the germans weaned themselves off, rush and gas. and india imposes a tax on the profits of crypto currency and aims to launch the digital ruby. is that a move towards regulating virtual currency and how will investors be affected? ah, thank you very much for joining as gasoline prices have risen sharply after russia's invasion of ukraine and americans are feeling the pinch at the gas pump with mid term elections just months away. present joe biden is under growing pressure to bring down the high energy prices. and he's attempting to do that by increasing supply. the president has ordered the release of at least a 180000000 barrels of oil from the u. s. as strategic reserves over the next 6 months. that's the largest release of oil reserves. since the countries talk pyle was created more than 46 years ago. this is

a war time bridge to increase oil supplier to production ramps up later this year. and it is by far the largest release mortgage around national reserve in our history and provide historic amount of supply for a storage amount of time, a 6 months bridge to the fall. while the announcement marks the 3rd time in 6 months, the u. s. has topped into its talk pies, the president has also called for companies to pay fees if they choose not to use oil whales on land. they lease from the government and has promised to speed up the adoption of green energy sources biden plans to invoke the defense production act, to support the production of batteries like lithium and nickel among others. now, other members of the international energy agency, or i. e, a, a watched off for western consumer nations also agreed to release more all from their reserves. the move comes after the organization of petroleum exporting countries, opec and its allies, including russia, said there were sticking to their plan to gradually increase production. thus,

despite pressure from the u. s. and other nations to boost output more quickly. so, how does the strategic petroleum reserves work and what does biden's plan mean for the market? let's have a look at the figures. the u. s. held 568000000 barrels of oil as of march 25th down from more than 700000000 at their peak in 2009. but i am member countries are required to keep equivalent to 90 days of net oil imports in emergency reserves for the us. that's 300. 15000000 barrels according to our b. c. capital markets. once the latest release is complete, the nation will have just 70000000 barrels in buffer. the release of $1000000.00 barrels of oil a day over 6 months would make up almost 5 percent of american demand and one percent of global demand. that's why the i a a said last month as much as $3000000.00 barrels a day of russian oil production would be lost because of us sanctions. now biden's

announcement us pushed oil prices to settle nowhere, but they were twice the level a year ago. brent crude, the global benchmark for oil prices, hit $139.00 a barrel last month after russia is invasion of ukraine began. the recent rise include prices has led to a jump in gasoline prices in the us with the national average price of a gallon of gas at more than $4.00 up from almost $3.00 a year ago. well, let's discuss all this further with great should bronze cross energy analysts that energy aspects. he joins us from london. richard, very good to have you with us on counting the cost, so will present bite in release of us. we have much impact on prices beyond the very short term. well, i think there will be some impact that is probably going to mainly be reducing the risk that we see a really serious spike higher in price. if, if some i don't think the release on its own, it don't push oil prices down much further from power levels. so do you expect more

disruptions ahead? yes, i think in terms of the russian supply, we're only beginning to see the actual disruption caused by sanctions and the self sanctioning that we're seeing from a lot of european bias. russian refineries have had to cap production, and russian exports are starting to fall. although they haven't fallen immediately after this, not the conflict. so these effects are still building out, and i think they're going to get worse over the next month or 2. i mean, it's a risky strategy though, isn't it for, for the u. s. to draw down on it's s p r so heavily. what if the war and ukraine drags on? well, i think it's certainly true that you can't draw down with these kind of rates and it's not just the u. s. in advance economy around the world that are announcing big releases. we've seen the youth that was to a degree that we've never seen in the past. and i think that reflects how serious the concerns about the state of energy market. but it also has to be

a 10 pretty measure. now washington is hoping that by the time they finish the 6 of relief us production will ever increase substantially. and that will help to bridge the supply gap created by russia. i think that's quite optimistic when we look at our full cost for us shale production. we do see growth this year, but not the kind of pace that it seems. the white house is hoping for potentially a problem later in the summer, or towards the end of the year when all of these releases have happened, and yet the market is still short of supply. i was going to ask you, this is precisely about that richard. i mean, is the amount being released from strategic petroleum reserves, whether the u. s. or other countries? is it sufficient? what would it take to make up for the disruption in russian's supplies and stabilize the market? we think russian supply is going to fall by not 2000000 barrels a day compared to the pre conflict levels. and what you're looking at in the most

optimistic scenario for these releases is under a 1000000 barrels a day. so it goes a long way to help bridge that out, but it isn't sufficient. you've also got to think about issue elsewhere with seeing less and less optimism that will be a nuclear deal with around, with lift sanctions on that country. and that was going to bring more supply into the market if that's not coming later. and this year, again, you've got a gap that even can be completely filled by these with releasing these reserves rich. and how does it exactly work? how is it structured? is it going to be an exchange or outright fails? and what about logistical challenges and bottlenecks to move the oil from reserves to, to other places? so this is going to be an outline. it's going to be made available to market and refineries or even international buyers can purchase as long as they can happen. stickler arrangements to received an oil. the u. s. government has said that it

will. busy repurchase this oil and refill b. s p r later. but that's going to be government to do not for the bias. so that's why it's not an exchange, but it does. if price is a lower in the future, so anywhere under about a $100.00 a barrel for w t on the u. s. government is going to be a big buyer. oil to put it back into the. now the logistic problems that you mentioned are very significant because although the cabins and the storage sites themselves can technically release a little very rapidly, that oil has to move through the u. s. pipeline network through the same pipes, commercial production. and the problem is there are restrictions or limits on how much s p l and you can release and move around that system without disrupting and impacting the compassion. and so we think that the actual rate of s p release is going to be much lower than the 1000000 barrels a day that's been announced probably closer to $600000.00 barrels

a day. do you think, richard? this will change the calculus opec class, which has been resisting cause to increase output. do you think it'll push them to try and increase the scale of their production? if anything, i think it does the opposite. they can point to the fact that the u. s. and others are releasing all the s b r and therefore say that the market doesn't need our tech class to have more supply. i've been very, very reluctant over a couple of meetings since the conflicts started to do anything to adjust that current plan. and i think for now that remains the case. now we've heard renewed calls this week, richard for the team, for the sanctions on russia, the energy sector after the an h atrocities in butcher came to light. but european countries, we know, have been reluctant, right? to impose a bond on russian energy, if a boy caught russian oil and gas at all possible for europe, what impact will it have on, on european economies like germany, for example? well, i think if, even a few weeks ago,

we said it looked almost impossible about calculating, changing. they all, it appears the european union will find coal imports or at least put some kind of restriction on the light to this week. and that break the 2 when it comes to functioning energy flows. it doesn't mean we'll definitely get measures against the oil and gas. but the longer the conflict in ukraine goes on, the more likely they become, i think there are proposals already being developed for the europeans, my count of russian oil and gas is the hardest one in terms of the level look that europe depends on russian imports. and also the availability of all talented sources to fill that out, but we seem to be getting close to the political pressure building. and i think if we are, you know, weeks or months or more fighting in ukraine, it becomes more and more likely that we do get some kind of. now you asked, how can europe respond or how can you deal with that?

technically it's going to be possible, but it is going to be very expensive and it's going to be very disruptive. and so we are starting to see markets trying to price what that would look quite and how disrupted it might be. certainly you can get to the point where demand is gonna be, have to be limited or rationed in certain sectors of the european economy to manage the loss of russian oil and gas supplies. if that happens, richard bronze, thank you very much for talking to some counting the costs. thank you for your time . ah, european nations are on high alert for any disruption to russian gas enforce present. fatima protein wants what he calls unfriendly, biased to pay in robles or face supplies being cut off. many european leaders have rejected the ultimatum and announced emergency pans to secure supplies. they include germany, which is acting to cut its dependence on russian energy by the middle of 2024

dominic cane report, some 1000000000 the am or gas installation is far removed from the fighting in ukraine. here the focus is on getting the product out of the ground and on its way to customers. 55 percent of german gas imports last year came from russia and 40 percent in the 1st quarter of this. but outrage it warned ukraine has changed many europeans thinking we live as if it's even under the fact that we are diversifying our sources. and we'll do so in the coming months of the we will use the existing ellen g terminals on the west european coast. one, i'm a builder own elijah terminals much faster than before. that's ball building new l n g, or liquid natural gas terminals cannot cover all of germany's energy needs. it's thought the terminals will not be on stream for several years. and in the meantime, gas will still be needed. this is the hides craft back in central berlin here,

natural gas is turned into heat and light, the thousands of homes for industry and the public sector in this city. it's one of many such installations all across the country. much of the power use in the stations comes from russian natural gas and cost this country every year, billions of dollars. for many years, the political elite here tolerated such a dependence on russian fossil fuels long after crimea was annexed in 2014. germany's previous chancellor angle, a miracle did not stop. the now shelved an old stream to pipeline which connects russia to germany, fire the baltic c l deutschland had still, as for germany, wants to secure its energy supply from various sources. russian gas is part of this, but we do not rely only on russian gas. on and yet when she made those comments,

germany had already become increasingly reliant on russian guess. she had even been warned publicly about its risks by the then u. s. president. but germany is totally controlled by russia because they were getting from 60 to 70 percent of their energy from russia and a new pipeline. and you tell me of that's appropriate because i think it's not. and i think it's very badly, valero, and i don't think it should have happened. but many, if the elite in germany appeared not to be listening, i asked one leading petrochemical policy analyst, why the idea was essentially, to work through trade. in order to lower the incentives for conflict, because the moment you and hence trade in theory, both sides engage invest haskin in the game and that means you lower the blue content for war or other types of conflict. that was the principal principal idea driving a lot of the russia politics and policies of the german government,

but also of other european governments didn't work as we know. and yes, what kinds that they should have known better. now those governments are leading a dash from gas. the european commission recently unveiled plans to cut many billions of cubic meters or b c m's. by the end of this year, we can replace $100.00 bcm of got some ports from russia. that is 2 thirds of what we import from them. this will end our over dependency and give us much needed room to maneuver. part of the e u plan mirrors proposals put forward by ministers in berlin. marrying expediency over hydrocarbons now with their longer term environmental ambitions. and we will see europe and governments across the board ramping up programs for renewables. china 1000000000 from the german government's ah, going into clean tack,

going forward a whole program in the shape of re power europe at the european level. even if it's what we don't knows is how such a move will be perceived in the kremlin lane. but with his recent requirement to make ease states pay for gas in rubles, rather than dollars for euro's president, putin has already signaled his intent yesterday. if these payments are not being accomplished, what we would consider it is by his failure to meet their commitments with all relevant consequences. nobody sells anything to us for free. neither are we going to do charity work. no, that means the current contracts will be brought to a home to the new months obligatory. and that is a real worry for many across europe who wonder what might happen in winter if russia switches off the gas. several industrialists say such a denial of energy could be catastrophic to the economy. dawn, it came for counting the cost berlin. now india has long been concerned by crypto

currencies and was planning to band them. but instead of prohibition, the indian government appears to be moving towards legalizing and regulating the digital currency. and it's announced a 30 percent tax on gains from the transfer of digital assets such as bit coins and non fungible tokens. here's our india correspondent eliza brian. am in new delhi. these crew crappy, has made tens of thousands of dollars investing and trading and crypto currency over the past 4 years. but the 24 year old selling at least half of all has digital assets before new taxes on them come into effect. from april, investors will have to pay 30 percent tax on sales of crypto currencies and won't be able to offset any losses from one against profits from another. so that's all i will be managing, introducing like exposure getting more interest often for the, for it using the volume of trades that i am doing. danny, i'm probably we will be seeing that in exchange that india we will be seeing or

decrease in volume because the thought process is pretty soon. same introduction to the central governance has a major increase in crypto currency. transactions has made it essential to impulse taxes. there are around $25000000.00 india to own crypto currency, with up to $10000000000.00 worth of assets being traded every month. the average investor is just 24 years old and must have a portfolio of $250.00 to $1500.00. the founder of india's largest trading exchange says it doesn't make sense to impose the highest tax bracket regardless of earnings. so there are certain amount that you all in, in a year is not active at all. you don't have to be back, but if you are needing him to make a profit back, if you still have to be and i told you, but which is the highest level. and that's something open for

a lot of be put up land and i got a good job began investing and crypto currency when he was at university in 2016, the 23 year old day job is running his family's carpet business. but all of his earnings are invested and crypto currencies. he's not happy about the high taxes that relieve the government, isn't bad in crypto currency after it indicated last year. it would be, i think that an important 1st step. i am not happy about them. no, i'm not happy with some of the particular things, but i think we should like regard back in december, everyone with debt shorter. this is going they're going to force liquidation from all exchanges and they're just going to ban it. and that didn't happen. many others agree with rog, of and say the taxes are too high and could push investors and businesses into moving the assets to countries with more favorable tax laws. but they also agree they're better than an outright ban. elizabeth per item al jazeera new delhi. now

along with a capital gains charge, the government announced a one percent tax deductible at source or t t. yes, that will apply on old digital assets transfers above a certain size starting on july 1st, india will also roll out its own block chain base currency digital whoopee controlled by the indian central bank before april. next year. joining is not from new york is roger bron global head of tax strategy, a chain alice's thank you for being with us on counting the costs. roger is a big outcry in india right now after the government announces 30 percent tax on virtual assets. i want to know for how significant it is, how much tax is imposed on crypto currency in different countries worldwide. the tax, every country tends to tax crypto slightly differently. you see common themes. the minority of countries is really only a handful post, no capital gains tax at all. and oftentimes they don't have

a capital gains tax. in other instances, the only tax certain kinds of transactions in general. for example, last year in france, don't tax trip those for crypto trades when i show x r p and exchange for a theory. and they won't tax that wait till someone receives traditional fee on currency, which is just a phrase, a term referring to cash. so 30 percent of the net gain or that with you. if you buy it asks for a 100 you saw what for 70 or 80? i have 20 again. so applying 30 percent the tax is similar to what many countries do. i would say that what is more than what some countries do is many countries will give you a reduction where if you lose money on a sale, there will be a deduction, a capital loss that you can use against similar types of gains in the,

in the proposal you're not allowed to do that. so i think that is a departure from some other countries where they also approach. and then i would say the one percent tax deduction source is also a departure from what you see in other countries. so that in effect, but it is creditable against the 30 percent of again, but that is a different increase. so the one percent of tax deductible at the source is a departure you say, when you look at india and compare it to other countries, how big is, is india's crypto currency ecosystem. and how much can the government hope to collect from, from this crypto tax? well, the indian ecosystem is quite large, obviously a very educated population. many people pursue tech and very people crypto and watching necessarily our technologies and among the crypto indexing

region, the in the really rank top. so india is a major section for bo and, and it will have a material impact that we're seeing test reports now that some exchanges are seeing 30 to 70 percent drops involve i would say that, unlike other asset classes, the market for trading crypto is global. so if somebody has a choice between jurisdiction, a trade and jurisdiction be and the tax is different, then they'll go for that other jurisdiction, right? there is concern about possibly evasion, right? or, i mean, will it be easy to track given the nature of the transactions? so there are technologies that one can determine where some, where trading occurs. the 30 percent tax assuming that the tax applied at the

individual level in india will tax indian taxpayer. but the taxing that was whether they're trading was your exit or which or trading coin base, say us, or qu coin, which is not indian. this attaching the same person would, may choose, may choose to chit tray or the foreign exchange is not in the exchange. if the terms of invasion in india will have technology available, where if they can associate trading on a non need exchange to a human being and india, then it is possible to determine whether it's tax evasion with technology the o e c. d. go ahead. no, i could ask you briefly, raj, a how it would affect investors and liquidity. it will affect quality. they could

drive down prices. crypto is global. so if somebody can get other prices in the jurisdictions in the use of major market, it could have a depression or reducing a depressing price on, on, on crypto. indeed, i would say that you could have non indian traders come in and, and see that the one percent is acceptable and they'll come in and perhaps drive up the price of that goes to be determined. thank you so much for talking to us about this sponsor of raja brown joining us from new york. thank you for your insight. thank you. and that is our show for this week and get in touch with us by tweeting neat at for you by a j e. and do use a hash tag, a j ctc. when you do or drop us an e mail counting, the calls that aren't 0 dot met is on track. but there's more for you online at al jazeera dot com slash ctc that will take you straight to our page, which has individual reports, links,

and entire episodes for you to catch up on. that's it for this edition of counting the cost some fully back to go from me and the whole team hearing doha, thanks for joining us and use on out jessia is next. in the run up to worth day al jazeera showcase is live discussion programs and special documentaries, exploring the issues behind human caused climate change. climate skepticism is entirely dependent upon the promotion of doubt. whitney screens a series of inspirational films, stories told for the eyes of those at the forefront planet. s o s. visits greenland . to investigate how local communities are adapting to the alarming rate of melting ice. never before in human history has the months, prestige, environment of the arctic food in such peril. algio 0 world documents, the devastating impacts of climate change on

a lake and center goal and rivers in iraq. and the st asked how societies can responded to global warming. the climate emergency a season of special programming. anal josie ah, this is al jazeera. ah. hello, i am sammy's aidan. this is the news out live from dell. how coming up in the next 60 minutes? ukraine's president calls for tough global action against russia after a missile attack at a crowded train station kills at least 52 people. we meet residents and one ukrainian region desperate for aid. some say they've been forgotten.