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tv   Counting the Cost  Al Jazeera  December 10, 2022 12:30pm-1:00pm AST

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season but the new research means he is able to keep his entire yield and even produce seeds from leaves of the plans already in the ground. how many degrees algebra a bubble? ah, so this is al jazeera, these are the top stories in argentina through to the well cup, semi final off the 10th week, 3 of the netherlands in a penalty shooter who was to law threats time. argentina will face croatia in the last 4 of that. they knocked out the tournament favorites. brazil, satellites go to finally action include c o european match up between england and france that set 1900 g m t. it al, bite stadium. the winner will advance to a semi final again see the morocco or portugal and back game kicks off at 1500 g m t at alpha, amongst ag supporters of bangladesh. his main opposition party had been protesting
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and darker, calling on the prime minister to resign. thousands turned up in the capital defined by the police and other rally held inductor on wednesday, turned violent and saw one person killed dozens, injury protests have continued in peru. after the rest of impeach president pedro castillo, he was removed from power and detained on wednesday. supporters demanding his release and have held rallies across the country. i know the only thing that stays is the people, nothing more. we don't have authorities, we have nothing. it's a national embarrassment. all these corrupt congress representatives have sold themselves, betraying our president pedro castillo. he is not a communist, he is not corrupt. i'm here for new elections if the president is leaving than everyone should go. let's recall to elections because the president is elected by the popular vase. russian president vladimir putin says future prisoners swaps with
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the united states of possible arms dealer victor boots is back in russia are off to the u. s. released him in exchange for the basketball star, brittany greiner boot, who's accused the west of trying to destroy russia. the un security council is met to hear accusations from russia, that weapon supplied to ukraine have ended up in the hands of criminal gangs. but moscow is facing allegations from the u. k. ambassador to the kremlin is buying drones from iran and north korea. she has democrats control. the senate has been shaken off to arizona. senator kristen kirsten cinema decided to register as an independent. she says she no longer wishes to participate in the bi partisan structure of the u. s. government. let's take that long. we have more news coming up here on al jazeera. i'd after counting the class. after more than 2 weeks of intense competition, we're now down to the final 8. we've witnessed some seismic upset. many of the
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world's top teams still remain at our 2022 on al jazeera. oh, i hello, i'm molly inside. this is counting the cost on al jazeera this week, a $60.00 a barrel price gap, and russian oil sets by the g $7.00 and a band by the e. u and russian seaborne oil comes into effects. what impact will it have on the criminal ability to finance the war in ukraine? also this week political instability, an increase uncertainty over the future of africa's presidents has cost a shadow over the countries lagging economy. conservationists in india, raising the alarm about the danger of shrimp bombing to the environment. we find
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out what they say, the problems are ah, the 1st phase of the european union's ban on russian crude oil and petroleum products kicked in this week. european countries will stop buying seaborne crude oil from russia, with limited exceptions, robbing the kremlin of revenues that it needs to sustain its wool efforts in ukraine. the embargo comes at the same time as a price cap on russian oil that's been backed by the group of 7 advanced economies . let's take a look at the new measures in a little more detail the either the g 7 annual strider have all agreed to cap the price of an oil at $60.00 a barrel. but you also ban russian cbl and crude oil imports from december 5th, and refined oil products. from february, the 5th, the band covers 90 percent of the ease whirl imports from russia was 900 last year
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that you imported about $74000000000.00 worth of crude oil and refined petroleum products from russia. the embargo also prohibits european companies from ensuring and financing shippers carrying russian oil above that price cap. to discuss all of this, i'm joy. now from to bye bye robin mills. robin is a non resident fellow at columbia. c percentile and global energy policy. and the chief executive officer, us come on energy, i can be joining the program robin. let's start with the price cap of $60.00 a bow russian creed. what is the idea behind this plan? well really, the concept is that the g 7, they want to keep russian oil on the market because i don't want to have a damaging spike in prices by cutting off russian supply. but they also don't want to too many revenues to go back to let him put in government. so the idea is to allow the russians to sell but only kept price and to restrict sales of oil of the
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bumper, above the cap by restricting the access to shipping and insurance services, most of which is provided by g 7 countries and protected by european countries i'm just the price cop. let me ask you about that. i mean, is it going to be easy to enforce? i mean, what is the role of the insurance companies in this? well, the insurance companies option and central because in the no, no, no vessel, concise and supports will go through major waterways without having to allow the insurance. because she has a huge danger of accidents and other major oil spill could cost billions of dollars and clean up service. please call gonna have to be properly insured if they, if they are going to an enter ports or if they're going to go through waterways like the boss russell, the suez canal. so that the insurance saga labs, the critical. ok, so this is a good plan, is it, i mean, will have a significant impact on russia's oil profits, which is what they want. well, you know, the thing is now that most of the rational and exports actually trading below the cap prices of, for quite sharply, the past couple of weeks and rational. it was already selling
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a significant discount. now how much that discount is jude? a buyers being being blocked and take russian oil? how much is due to them? seeing the price cap amusing, to go shutting leverage? probably a bit of both, but actually the, as we said, the discounted price is below the cap already. but the advocates for capital so i won't go that's, that's exactly what we want out. if the global oil prices start going back up, presumably that will really hurt russia. if prices go up again and the g 7 are able to stick to the capital and imported originally and keep the $60.00 that russian will be losing adults, significant upside and roughly is absolutely. i think the question is even more the other one was processed. keep falling and the price rushers saving stays below the cap. will the g 7 think? oh, well we could talk further. we could make the cap $55.00 or $50.00 barrel, depending where rational what is actually trading. they do have a mechanism to keep reviewing the cap and, and changing those require. okay, so let's talk a bit more detail about the ban on the cbo and crude oil. what impact will that
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have on russia? the use always been russia's major oil customer. of course, now you as december didn't she stay and nearly complete ban on pushing the russian crude pretty much complete ban on cbl and crude. an affected ban on a lot of pipeline imports into eastern europe that has a major impact because russia, the look of the markets. and it's really got a couple of other markets outside the u and the you can us, it's also been rational shipments. and that's really enduring, china. and over the course of this year, india has been the main part of they're picking up a lot more russian oil and filling this, putting this gap. china has taken a bit more turkey has taken, taken some more. but russia, i think we'll look more widely and try to other customers. it's going to replace all of the european oil market the since now last the effectively, i guess the other key cash question is how is the you going to make up the shortfall? i mean, the, the block i believe,
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will need to replace about $1000000.00 barrels of crude a per day. can you manage to really do without all the thrush oil? yeah, it's a, it's a logistical issue, but there is the all on the market. so we've already again see this year that european or try to switch drug considerably. and we've seen a major increase, not surprisingly, at least oil going into, going into into europe, particularly particularly saudi oil. the rocky oil of the u. s. is as increased as well. so and between those very source is the use so far managed to replace what, what, it's what it's cut out, russia. so we'd expect that to continue. there are some logistical issues. how do you get oil to refine landlocked refineries in central and eastern europe? that used to get by, by a pipeline from russia who's been left sir reconfigure pipelines and change things? this is been some exemptions for fund raising countries like hungry claims. i can't easily get in on russian oil, but those things are being sorted out of the time. so what a rush is, options here,
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do they comply with the price caps? do they have other alternatives, like providing known tank is their own insurers and so on? well, russia said that they won't comply with the price capital. i won't sell to anybody who is complying. of course, i have to say that they can accept. this is a policy. i think they may find that at least quietly, they have to accept that they're going to continue selling that. they allow us to implicitly accept the existence of the, of the price capital that some of the buyers will, will want to comply with this. russia has been trying to accumulate a large shadow of time because of the past few months of its own time. because by buying 2nd hand all the time, cuz it, it could replace the usual click with that will suddenly fill some of its needs. not all of it, it's a much longer voyage for russia to go from, from the russia court on the black seal the baltic to india, that it was due to tate to sail for few days of european import. so therefore, it needs much more tankers to, to, to do those deliveries to asia. so the shuttle fleet went entirely solve the problem for russia. russia also been trying to set up new insurance schemes and an
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offer its own insurance. we'll see how widely that's accepted, all of these rush insurance can really, except it was valid. bye bye bye. all my job. what. what is that a good alternative for them? do you think that might work? i think some, some what we're seeing. so for example, the turkish warranties in excepting the russian insurance and russian tankers are able to get out of black. see, we'll, we'll have to see where the old ports are willing to take that. i think at least in june, china probably would accept it because that helps you want to keep the rational oil flowing. but i think we got to think that will be some limitation to rush or close because of the, the lack of inadequate tank of fleet. and a lot of other tankers not in the rushes, the to wonder, avoid the problem entirely by why not to kind russian or tolls. ok, clearly some unknowns and how this will all pan out. but what do you think? i mean, in terms of the impacts of the global impact on the price of oil, where do you think that's going to go in the short term and in the long term? well, you know, exercise prices continue to paul. i think partly because the market is so confident
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that this price won't have a significant impact or reducing russian supplies. partly because of fears about recession and chinese. coby locked hands and saw that i saw the price cap issue, but the, the, the hitting demand. the prices of brent crude prices now below $70.05 life dollars per barrel below where they were started. we are even before the war, so that sitting russia even, even though even without effect of the price kept. i think the longer term that this will reduce rational exports, the price cap enforcement will get cleverer and rushes also, trying to find ways rounded of cost, a little bit bit of cash. moscow and the consumer is all day. the win is all the loses. if this is skiing well for farther windows, because the whole process coming down pretty strongly, but i don't think that's really effective. the price kept its sides on rec, molly factors going on, but i think that again, the designs and price cuts. i won't report prescott, no serious damage. so far. rushing, revenues are being cut anyway, so the policy is working. but i think there is
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a concern. yes. going into the start of next year. so that could be a more serious impact on prices, particularly if it's chinese demand picks up. and also we also bear in mind that this is about crude oil, but it started february, next year, you been on refined old products comes into effect and that is significantly higher the problem. how do you replace the exports of russia feels like these in particular? really, really interesting to get your thoughts. robin, males, non resident fellow, columbia super center, global energy policy, the chief executive officer. come on energy. thank you. i do. ah, some african national assembly has delayed a parliamentary vote that could lead to the presidents impeachment until next week . president sarah rum, oppose is facing allegations of serious misconduct in relation to a large amounts of cash found of his gain foam after robbery 3 years ago. from a cause that has denied any wrong doing and has not been charged with any crimes.
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the scandal has spooked the markets with growing phase of a prolonged period of political instability. investors were hoping for reforms to boost the countries flagging economy. they found that his replacement could increase government spending and take on more debt. well, despite sky rocketing interest rates, food and fuel prices, south africa's economy actually grew faster than expected. in the 3rd course at by 1.6 percent, the 3 months to the end of september. that's thanks to a serge in agriculture for street in fishing. the economy is actually bigger now than before. the corona virus pandemic struck the country is facing an increasing number of blackouts off the electricity supply. escal announced it wouldn't be able to refuel its diesel generators until at least april next year. now there's generators were meant to help the countries aging state own power grid,
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and it's mainly coal fuel power stations to keep up with demand. when south africa government is now continuing with efforts to boost the amount of solar power generation in the country. joni me now from london is a leash, montana. he is the africa, i'm less than research associate at risk intelligence company. the risk maple croft, thank you for joining the program. and so thought was an expected growth. is 1.6 percent in the 3rd quarter of this year. were you surprised by these figures? well, so the figures were quite surprising and they represent a notable shipped from the construction of 0.7 bird. then that we thought in the 2nd quarter of 2000 to any, to the above, the predicted values for the last quarter and the position south africa as a economy freight, coffee 19 up and make levels be a good thing to the positive. but those should not different r,
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as in south africa economy, including india, mining factor, which increased production, benefiting from a high commodity, the price of the global market. we also see that the elimination of over restrictions, leading to depend, make enabled for the expansion of the tourism and the sectors. finally, international trade also increase, allowing south africa to improve its position and current account balance. okay, so, but as an expected growth figures that south africa, central bank says the country's economy needs to actually expand consistently at 5 percent for years to in order to create jobs in low unemployment rates and so on. is that a realistic target? well, so although it has been a positive progress, it tells africa the economy a not out of the woods and the economy and investors in south africa will
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remain. and both do a huge political uncertainty and electricity because that will complicate economic recovery from the life the cry. too bad. i hit the country, i said, just depend on me and most recently the impact of russia, ukraine, our war. in addition, we have to remember that that was africa remains exposed to, there are no markets shocked to just the inflationary pressures that have been wars and by the russia grade. but that me and there will. it complicates south africa spa do. i cannot make the recovery. yeah, i'll pick you up on the inflation threat. i mean, that's the problem that countries around the world are struggling with. and like many of those countries, the government in south africa will the central bank in south africa has been aggressively pushing up interest rates. how is that working for them? so that consistent increases been enter the trades into, to soften the inflationary pressures. but we were talking about,
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we see that the inflation has slowed down slightly over the past few months. however, it reads record bodies of 7.8 percent last july. while above the target range of inflation fed by the central bond, which is between 3 and 6 percent in order to protect the value of the south african rant. we therefore expect the central bank to continue increasing interest rate until it reaches that desired value. and although it seems like it's a mitigating part of the inflationary pressures, it also has the side effect of blowing down growth, which well, as i was mentioning before, i continue to complicate with africa, they cannot make recovery entering than we are. it's a very difficult balancing act, isn't it? let's talk about s cone, which is south africa, electricity, public utility company, a vital business for south africa. it's an ounce that has no funds left to acquire
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diesel until april 2023. how big problem is this? how much is it going to cost people's lives on the economy? yes, so we have access to electricity in south africa. we will remain constrained by fiscal inefficiencies and ramp and corruption as come. now insulin that they have run out of funds to acquire diesel, it will be, be it's from there and will lead to block college becoming more frequent and more intense over the following month, with low shoving levels for becoming a common scenario in the country. we see that the company uses the filter on some of the big through the area plan activated during periods of peak consumption or emergency, which will leave me at the capacity of the company to react to unexpected circumstances. will expose companies from the operating in
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the country to electricity, cars or will for them to invest in writing their own energy and the band and the these allegations of corruption against president several rum oppose. i have been very much dominating headlines at the moment, to what extent to foreign investors pay attention to headlines like those. and of course about the electricity company that we were just talking about. how much does it impact the economy? yes, so investors will phase increase in government to really be reese, the potential increases on civil and red a result of a political kind of in, in, in south africa, the government. we see that a and b has been in decline over the past few years in terms of public support and will therefore increase in the risk of
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a coalition government in 2024. the be something that investors will keep in mind and it will, it will expose them to significant political risk and also red sprayed, offending from increase in public discount. that's what you'll, outlet for south africa is economy in the long term. so yeah, as i was mentioning in the long term, the economy will not only suffer external shocks, but we will be exposed political climate in south africa. we see that these unresolved social riv, could build the lead through to disrupt the protests. for example, in july last year, we thought that the imprisonment of j come silva, tree guard protest in the country. and while the protests were parked by political factor,
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they were pretty much fueled by underlying and the result issues that just unemployment inequality and poverty. we see that the government has been unable to resolve the issue and therefore will continue to feel protest and increase the re itself for option for businesses. really good to get your thoughts unleash montana, africa, analyst, and research associate at risk intelligence company. v risk maple cool. thank you. thank you. trim farming is a profitable business in india, but conservation is say that it's endangering the environment. they say the government should encourage more sustainable cultivation the countries one to 5 nations that signed the pack to the you and climate science in egypt to protect mangrove forests. pub natal reports from the southern states of carola. there are few signs of life bubbling under the technology is expensive,
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electricity is needed round the clock to maintain oxygen levels. the tank is actively monitored for temperature and nutrition, rakish men and started shim farming last year. he says this mod method is more profitable in the natural bond where you, where you're doing the loading city here we are doing in the high density at the same time off in your, you'd be doing like for both new york. if you compared with the natural one, they are doing a place in a so that is a more different than maybe you can do more goals at the same way you can on more profitable shim conservation is big business. in the southern indian state of carola, the government is promoting it by subsidizing land and giving technical support to farmers. but man groups are being cleared to make way for them. careless forest cover has reached a historic low in some areas that are motion farms and man groups. most of what remains is privately owned and unprotected mangrove have been globally recognized
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as one of the best ways to counter climate change. they absorb mo, cobblins and other tropical forests and also protect cost lines from natural disasters such as synonymy, signed to say that depletion is threatening ecosystems and local economies. our own coma has been fishing industry over for decades. he says the growing number of ship farms has affected his business that i feel free to catch, and some species have gone extinct. other than the chemical enough farmers use chemicals to kill all the organisms in the water. this is done before they put the shrimp, see this water that flows into the river? this is killing the fish. there was one fish called grew up. ok. it's not there anymore. conservationists warned the state government to step up manual protection . they said these can co exist, which in farms we have to do sustainable farming, and we have traditional method of shim farming prevailing didn't kill and. busy now the, the non traditional, more intense future farming is,
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is changing the morphology of the, of the area and the, and even the restoration becomes difficult when these landscape men in session grown this way is better. and other farmers will switch to this method. but conservation is worn unchecked, farming could wipe away critical forest cover and endanger thousands of lives. thousands of birds have been cold across peru in ecuador after the discovery, if a strain of avian flu, polls reforms and animal markets happen affected on the economies of both nations, have taken a knock. marianna sanchez has been a 90 day national health emergency in bid, when enquired as migratory birds from north america bring with them the highly contagious avian or bird flew. they've been infecting wild birds on their path towards the southern continent. the thread became clear after birds were found dead
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along perused northern coast. at least 13000 of them say environmental authorities, mostly pelicans. the outbreak reached a poultry farm in northern lima or produce agricultural health services. nearly 37000 birds were slaughtered this week to controlled the spread. but a nick while thought it was much worse. the government has at least a $180000.00 birds will have to be cold to protect the poultry sector, which generates 23 percent of require loads. agricultural, g, d, p. if the focal effect on this outbreak is contained, all protocols are being applies to 8 does not spread into 5 kilometers buffer jones . there are no more contaminated farms. commercial producers in both countries say they have taken strict measures to secure their farm perimeters. but us government has been live bird markets, the industry accounts for 2 per cent of its g d p. and it's the most consumed
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protein among low income peruvians. the ability to weigh about her if the worst thing that can happen is that this spreads to commercial farms. if chickens and hens died, chicken prices will skyrocket and it will no longer be a house. but a famine issue. good. health official savvy h 5, in one avian flu strain founding pedro could infect humans through close contact. health officials say that transmission of this virus among humans is very rare, but they're worried because the summer season here is about to begin. and they're urging people who are already coming to the beach to stay away from any dead birds . concern neighbors have pulled that most high beach south of lima. see the stench of dead birds is too close. if some of your mon got boilers going to be with kohl's different entities to come and clean up. they came one day and took some dead birds and never came back. people come and try and see the birds. i me want to prevent this from happening too. oh, thirty's here and in ecuador say they are working fast to contain the outbreak of
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silent epidemic, but with no tweet mental cure. death is assured for these birds reaching ashore for a time to rest her beak. and that is our show for this. we didn't get in touch with us by tweeting me at moline, fight to use the hash tag, ha, ctc. when you do, or you can drop us an e mail counseling the cost at al jazeera dot net is our address. and as lot small for you online at al jazeera dot com slash ctc, that will take you straight to our website, which has lots of individual reports, links an entire episodes for you to catch up on that is that the sedition all counting the cost? i marleen site whole team. thanks for joining us. the knees on out as era coming up next. the war in ukraine is expected to lodge over this year's nobel peace prize ceremony
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. here in all summer ukraine center for civil liberties, the russian human rights organization, memory out and jailed bella russian act of his hottest billiard ski with joy. he received the award in recognition of the importance of civil society to democracy and join us for a live. i'm in that interview with the winners here on out just indonesia, your investment destination, the world's 10 largest economy is busy transforming, ready to beat your business. partner with a robust talent pool, politically and economically stable and strong policies being the powerhouse indonesia is confirmed by the g. 20 presidency. bringing opportunities for you, invest indonesia. now there was a time to be direct. there is a growing realization that rights can be taken away in this country to cut through
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the rhetoric. how can we resist this narrative and how dangerous and demand the truth? join me, mark him on hill for up front. what out there? ah, this is al jazeera ah hello, i'm emily, angling this is the news. allan live from joe coming up in the next 60 minutes a thrilling evening at the world cup and tina advised to the semi finals activating the netherlands in a china records a decrease in its corona.

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