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tv   Counting the Cost  Al Jazeera  December 12, 2022 7:30pm-8:01pm AST

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bridge city of culture in the desert, the cut r philharmonic orchestra founded in 2007 features, 100 musicians from all over the blue. the museum of islamic art was designed by award winning architect. i am pe and has become a landmark on the water front and the city regularly host exhibits from top tier artists and the world of fashion such as christian do your end valentino character, an art that he's wander, and you can find it everywhere easily as it wander and catherine the rub because in i don't kind of wonder. so we try to put our wonder our italian wonder, he or you get back with the 1st world cup in the middle east. is it just about celebrating the goals and the football victories? it's a window into country life and culture, past and present. natasha named el jazeera, doha ah
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. the headlines on al jazeera iran has executed a 2nd prisoner and walden recent anti government protests must rosara navarro was hanged off. her court found him guilty of killing 2 security personnel rights. campaigners say the conviction was based on forced confessions. dorsey jabari has more from to her on magic rosara navarro was convicted and his sentence upheld in the country supreme court. in late november, he was arrested on november 19th, 2 days after an incident that allegedly took place on the streets of mesh at which his iran 2nd largest city in the north east of the capital. and this incident where authorities alleged that this young man stepped to members of the best each military forces to death and injured another for
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a day released cctv footage of the incident as well. he was very swiftly arrested, convicted and tried. i've done security sources, say 3, our men have been killed after they attacked the hotel in capital. a series of explosions in gunshots were heard near their building and a fire broke out. the u. k. government is holding an emergency meeting to plan a response to a wave of straight hundreds of thousands of mainly public sector workers or staging . walk out this month. peruse. new presidents will ask congress to bring the election forward to april 2024 following violent demonstrations. 2 people were killed and protest demanding the release of our former president pedrosa. theo, china says that will scrap a cove with 1900 travel tracking up on tuesday. it's the latest sinus beijing is relaxing. it's strict pandemic rules you have today for the headlines on al jazeera coming up next, it's counting to cost me.
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ah, ah ah, [000:00:00;00] ah, ah, 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 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,
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an increase uncertainty over the future of africa's president has cost a shadow over the countries flagging economy. conservationists in india, raising the alarm about the danger of shrimp foaming to the environment. we find 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 than either the g. 7 am australian have all agreed to cap the price of russian oil at $60.00
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a barrel. but you also ban russian seaborne crude oil imports from december 5th, and refined oil products. from february. the 5th, the band covers 90 percent of the ease oil imports from russia was no thing last year 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, some joy now from dubai by 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
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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 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 the price ca, 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 in central because in the no, no, no vessel can sales and support. so we'll go through major war twice without having insurance. because auction has a huge danger of accidents and other major oil spill could cost billions of dollars in clean up. so these, these call guys have to be properly insured. if they, if they go to an enter courts or if they're going to go through waterways like the boss versus the suez canal, so that the insurance saga is actually critical. ok, so this is a good plan, is it, i mean, we'll have
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a significant impact on russia's oil profits, which is what they want. well, you know, the whole thing is now that most of the russian or exports actually trading below the cap prices of, for quite sharply, the past couple of weeks and rational. it was already selling a significant discount. now how much that discount is jude? a buyers being being blocked and state russian oil? how much is due to them? seeing the price cap? i'm using that 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 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 cap and imported originally and keep the $60.00 that russia will be losing adults, significant upside in revenues. absolutely. i think the question is even more the other one was processed keep falling and the price rusher is saving, stays below the cap. will the g 7 think what we could talk further?
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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 as required. okay, so let's talk a bit more detail about the ban on the cbo and crude oil. busy what impact will that have on russia? the use always been russia's major oil customer. of course. now the you as december didn't you say, 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 that look of the markets. and it's really got a couple of other markets outside the u and the you can us, which also been rational shipments. and that's really india and 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. a china has taken a bit more turkey has taken, taken some more,
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but russia will look more widely in toronto customers. it's going to replace all of the european oil market the last that effectively, i guess the other key guess question is how is the you going to make up the shortfall? i mean, the blog i believe 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, it's an adjustable issue, but there is the all on the market. so we've already again see this year that european all tried 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 between those very source is the use. so problem i just replace what, what, it's what it's cut out. russia. so we expect that to continue there. awesome logistical issues. how do you get oil to refine landlocked refineries in central and eastern europe? that used to get it by, by
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a pipeline from russia who's been efforts to reconfigure pipelines and change things. there's been some exemptions for fund raising countries like hungry claim. they can't easily get non russian oil, but those things are being sorted out of the time. so what a rush is, options here, do they comply with the price caps? do they have other alternatives? like providing their own tank is their own insurance and so on. while 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 the comics up this is a policy. i think they may find that at least quietly they have to accept. so they're going to continue selling, but 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. busy accumulate a large shadow of time because of the past few months of its own time because by buying 2nd hand all the time because we could replace the usual clean 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 a rush court on the black seal,
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the baltic to india than it was to, to take to sail for a few days of european port. so therefore, it needs much more tankers to, to, to do those deliveries to asia. so the shuttle fleet went entirely solve the problem, russia, russia's also been trying to set up new insurance schemes and an offer its own insurance. we'll see how, why that's accepted all of these rush insurance can really accepted the 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 so russia tankers are able to get out of the black sea. we'll, we'll have to see where the old ports are willing to take that. i think at least injured china probably would accept it because obviously want to keep the rational oil flowing. but i think we've got to think that there will be some limitation to rush or closed because of the, the lack of inadequate tank of fleet. and a lot of other tankers noting the rationale to wonderful the problem entirely by why not carrying russian or souls. okay. kelly some unknowns and how this will all
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pan out. but what do you think? i mean, in terms of the impacts on the global impact on the price of oil, where do you think that's going to go in the short term in, in the long term? well, you know, interesting prices continue to hold. i think partly because the market so confident that this price got won't have the significant impact of 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 hitting demand. the prices of brent crude prices now below $70.00. so i, blighty dollars per barrel below whether we're at the store, we are even before the war. so that's it. in russia 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 to cost a little bit bit of cash moscow. and the consumers all day the win is all the loses . if this is skiing well for father windows, because the whole process is coming down pretty strongly. but as i don't think it's
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really effective, the price kept its sides on rec, malik. factors going on, but i think that again, the design is the price cut. what so what we bought the price. no serious damage. so far, rushing, revenues are being cut anyway, so the policy is working. but i think there is a concern. yes. going into the store the next year. that 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 at the start of february, next year, you been on refined to products comes into effect, and that is a significant, harder 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
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. president sarah rum opposes facing allegations of serious misconduct in relation to a large amounts of cash found of his gain foam off to a robbery. 3 years ago, rama plaza has denied any wrong doing and has not been charged with any crimes. the scandal has spooked the markets with growing phase if 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, i'm fuel prices. sub 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 st. in fishing, the economy is actually bigger now than before. the corona virus pandemic stroke. the country is facing an increasing number of blackouts after electricity supply
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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, and it's mainly coal fuel power stations to keep up with demand. well, south africa government is now continuing with efforts to boost the amount of solar power generation in the country. joining me now from london is elise 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 each so thought was an expected growth is 1.6 percent in the 3rd quarter. this year we're 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,
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to deviate above the predicted values for the last chord there. and he position south africa as a corner, me for coffee 19 up. and that means a level. the good thing to the positive, whether or not different are in south africa, the economy, including in the mining factor which increased production, benefiting from a high commodity, the price of the in global market. we'll see that the elimination of over restrictions, leading to depend, make enabled for the foundation of the tourism and the sectors. finally, international trade also increase, allowing south africa to improve its position and current account balance. okay, so better than expected growth figures that south africa, central bank though, says the country's economy needs to actually expand consistently at 5 percent for years to in order to create jobs in low unemployment rate and so on. is that a realistic target?
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well, so, although it has been a positive progress, it tells africa the economy a not out of the woods and the economy and the best there in south africa will remain. and both do a huge political uncertainty and electricity because that will complicate the economic recovery from the last the crisis. but i hit the country. i said, just depend on me and most recently the impact of the russia, ukraine, our war. in addition, we have to remember that that was africa remains exposed to, there are no market shock to just the inflationary pressures that have been worse than by the russia grade. but that me and there will complicate south africa to 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. 2 are struggling with and like many of those countries, the government in south africa will the central bank in south africa has been
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aggressively pushing up interest rates. how is that working for them? so that consistent increase in interest rates aim to to soften the inflationary pressures. but we were talking about 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 target range of inflation fed by the central bond, which is between 3 and 6 percent in order to protect the body off the south african rant. we therefore expect the central bank to go dina 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,
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i continue to complicate with africa that cannot make recovery entering the new year. it's a very difficult balancing act, isn't it? let's talk about escort, which is south africa is electricity, public utility company, a vital business for south africa. it's an ounce. it has no funds left to quad diesel until april 2023. how big problem is that? 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 denouncement that they have run out of funds. so choir diesel will be be it's rob tip and will lead to block how it's 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
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of the big delivery plan activated during periods of pick thompson or emergencies, which will limit the capacity of the company to react to unexpected circumstances. these will expose companies from the operating in the country, it through electricity, cars, or will force them through, in best enduring writing, their own energy, the abandoned the these allegations of corruption against president several rum oppose. i've 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 faith increases the government to really be rece, the potential increases on people and red the result of a political scandal in, in, in south africa,
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the government. we see that amc has been in decline over the past few years in terms of public support and will therefore increase to increase the risk of a coalition government in 2024. the be something that investors will keep in mind and it will, it will expose them to significant political risks and also red sprayed offending from increase in public disc. 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 for external shocks, but we will be exposed to the political climate in south africa. we feared that these unresolved social rear, with all the laid through to disrupt the protests. for example, in july last year,
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we thought that the imprisonment of a j come silva, tree guard protest in the country. and while the protests were parked by political factor, 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 these issues and therefore will continue to feel protests and increase their itself. the instruction for business is really good to get your thoughts. alicia, montana, africa analyst, and research associate at risk intelligence. company v risk maple call. thank you. thank it. from farming is a profitable business in india, but conservationists say that it's endangering the environment. they say the government should encourage more sustainable cultivation. the country is one to 5 nations that signed the pact to the you and climate science in egypt to protect
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mangrove forests. poverty missile reports from the southern states of carola. there are few signs of life bubbling under the technology is expensive. 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 modern method is more profitable in the natural bond of where you are doing the lord in city here. we are doing it the high density at the same time off in there your, you are doing a for goes to the new year. if you combated with the natural one, they are doing good place in a year. so that is a more different than maybe you can do more goals at the same way. you can learn more often when this ship conservation is big business. in the southern indian state of carola, the government is promoting it by subsidizing land and giving technical support to
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farmers. but man groups i've been 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 man, girls have been globally recognized as one of the best ways to counter climate change. they observe mo cobblins and other tropical forests and also project lines from natural disaster, such as synonymy, signed to say that depletion is threatening ecosystems and local economy. iron coma has been fishing industry over for decades. he says the growing number of shim 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. and this is done before they put the trim, see this water then flows into the river. think this is killing the fish? there was one fish called grew up and it's not there anymore. conservationist want to state government to step up mango protection. they said these can co exist,
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which im farms we hope to loo sustainable from farming. and we have traditional met 3rd off from farming breland in killer and. busy now the, the non traditional, more intensive, true farming or is, is changing the geomorphology of the, of the area and the, and even the restoration becomes difficult in these landscape men and say a ship grown this way is better. and other farmers will switch to this method. but conservationist, one 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 of a strain of avian flu. poultry farms and animal markets happen affected on the economies of both nations, have taken a knock. marianna sanchez has more a 90 day national health emergency in bed when
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a quote 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 along perused northern coast. at least 13000 of them say environmental authorities, mostly pelicans. the outbreak reached a poultry farm in northern lima were produce ugh, re cultural health services. nearly 37000 birds were slaughtered this week to controlled the spread. but in equal thought, it was much worse that government has at least a $180000.00 birds will have to be cold to protect the poultry sector, which generates 23 percent of the quotes agricultural g, d p is the focal effect on with uppercase contained all protocol start being applies to 8 does not spread into 5 kilometer buffer jones. there are no more contaminated farms,
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commercial producers in both countries say they have taken strict measures to secure their foreign perimeters because government has been live bird markets. the industry accounts for 2 percent of its g d p and it's the most consumed protein among low income peruvians le building the website. that is the worst thing that can happen is that the spreads to commercial farms. if chickens and hens died, chicken prices will skyrocket. and it will no longer be a health, but a famine issue, a little bit. health official savvy, h 5. in one avian flu strain founding they do could infect humans through close contact. health officials say that transmission of this virus among humans is very rare, but they're worried because his somers he's on 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 have each south of lee my see the stench of dead birds is too close. if someone can go up,
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was gonna be with kohls different entities to come and clean up. they came one day and took some dead buds and never came back. people come and try and see the buds. i me want to prevent this from happening too. of florida here and inequality, they are working fast to contain the outbreak. a silent epidemic, but with no treatment a cure, death is assured for these birds, reaching ashore for a time to rest her beak. and that is all show for this. we didn't get in touch with us by tweeting me at moline fight. do use the hashtag a j ctc. when you do or you can drop us an email counting the cost at al jazeera dot net is our address. as lot small for you online, 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 molly, inside whole team. thanks for joining us. the knees on al jazeera coming up next.
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ah ah. and the mamma pricing is in peter movements that takes place in kenya. ponding up against the british demanding return of their lives, nearly declassified documents showing the lights on presents colonial past. there is systematic torture, a reign of terror, and these count and major human rights abuse. how was this happening? a very british way of torture. i wanted or near to deny on al jazeera
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joe biden is welcoming african leaders from across the continent. washington house the u. s. africa leader summit with global powers vying to boost economic and political ties to the region. the president is keen to underscore the importance of u. s. africa relation. stay with al jazeera for all development. ah, iran hangs a man linked to anti government protest this the 2nd execution in less than a week. ah, your want to know the 0 my from a headquarters in delphi, i'm getting obligated also coming up a hotel housing foreign residence is a talked and i've gone astound capital. 3 assailants have been killed.

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