risk whose chemical uh, materials on the ship. the cost in the boat of the fried is costs electrical costs . and what will happen if these costs in a burning situation come into the water and pollute and all see that these are all worse. it's peak holiday season on the islands packed with tourists rippling in a slow pace of life. very eager to experience a remote protected wilderness while beyond the horizon, the freight to places on june the whole elder 0 on the island of amazon in the don't see the color that is as algebra and diesel. the headlines usually is community that has held his fast and government leasing. general underwhelming gianni on the seas had president mohammed presume on wednesday, is a vote as a warranty that any foreign military intervention would lead decalle. a russian

missile on has struck a high rise apartment block and the ukraine in city of geneva. injuries were reported as debris range down the attack came 24 hours after the ukrainian president visited the city, leading republican presidential candidates of and making messages to donors and policy leaders in the us stage of iowa, the annual event. so speeches by the front runners for the government run desantis and donald trump i will fully secure our elections. i will defend the judeo christian values of our nations founding. i won i over twice by really a lot. we said records and together we will crush, crooked joe biden, the most crooked president in the history of our country by far, and also grossly incompetent. doesn't know what he's doing. he's destroying our country. we will win the election big, and we will make america great again,

the right place and who have followed with protest as to us demanding the resignation of the president. the last day was giving an independence day speech and congress as demonstrate as outside the demands of a new government and early elections. she adds to reconciliation and apologize to the family since at least 60 to 80 and kills and protests. this funerals have been housed in a smooth village and will faced and algeria, 16 people killed and wild fines. the finest band for days and mountainous areas along the mediterranean coast. 34 people died and all many hundreds. what evacuated from their homes. a fire which has been binding for days on a ship and the north sea is finally showing signs of dying down salvage expense are still having to wait to to assess the damage which threatens dissolves button in area of outstanding natural pc. oh those are the headlines out there. i don't come always has and they just counting the cost though is next. where is the western

agenda heading? that's the g 7. really even matter anymore. who's more electable, joe biden, or donald trump, or jeremy, listen in the media undermining our society. can americans cross their supreme court is not corrupt. the quizzical look us, pull it to the bottom line, the hello and 0, then yea, this is counting the cost on alpha 0, your weekly look at the world of business and economics. this week, heat waves war and ukraine and export bands on essential staples. the threats to global food supplies are piling up. will that lead to higher prices and more 100. also this week, oil supplies are tightening,

and prices are creeping higher or market starting to turn in opec's favor after a series of production costs. a lack of fuel, a lack of food, and a lack of money to buy basic goods to vice training, to an old ally, russia to help ease its economic crisis. the sporting temperatures, ravaged funds from the us to china. russia quit a deal that allowed the safe passage of ukrainian grain exports through the black sea. and ukraine says moscow and it's green silos and boned export routes. on top of that, india, a band, some rice shipments to keep domestic prices in check threats. the global food supplies are rising once again, and it's fear that they will raise costs and worst and hunger across the world. fenton monahan reports on the situation in lebanon, and chad, the wheat harvest season is almost over. farmers say they have little choice but to

bolster production because of level of economic crisis. and the rising global boot price is due to the award ukraine. but the country is far from producing enough to meet local demand. said beyond can i hit the in the past? the percentage of farmers who grew weeds was around 40 percent. now it's more than 70 percent. if we get more support, we would be able to grow much more. it is an expensive business, especially since less than on imports, almost everything and local currency last were the 95 percent of its value to nearly bankrupt government as promised to support production by providing seats a low price in the we face a lot of the challenges to be able to invest in orlando, we are poor. we need dollars to bypass designs. that's why the government should support us. he in 11 on wants to end it's dependents on imports. but there's a long way to go. in chad, the word ukraine is also disrupt supply chains and made existing problems even more

difficult to manage. fatima diode is replanting her farm after the previous crop failed. it's been weeks since there was any significant rain, full appointment for the the range we're back to last year at this time. i fear this could mean to harvest was farmers here say the lose more crops if they don't see more rain. but that's not the only problem that i see in the, even when the rains come, we liked the necessary tools to cultivate crops. seeds are beyond our reach with each passing year, the area of cultivated land and chad shrinks. as the effect of climate change becomes more severe, that jeopardize the jobs of 20000000 people. and many are going hungry with 1000000 suffering from malnutrition, or made worse by disruptions to food supplies from abroad. bins and mulligan for counting the cost. and joining us now from cape town is peter t jacobs. peter is a research director at the inclusive economic development division and the human

sciences research council. you are joining us from cape town. peter is good to have you on the program. do you see a scenario where the ukraine green deal could be revived, or do you think the world just needs to adjust now to a reality where it's just harder for ukraine to explore his grade? uh, good morning. yeah, prospect school the green deal to be revive a really very slim at this point because they have been a lot of other people. and in the meanwhile, one of the developments as you, while aware all these, the current 2nd africa rushes summit in moscow. and this will result in, i think, the continuation of for the escalation of a transfers of food brains between russia and ask because of an african countries and other forms of food, the support for african countries, the grain do us boys being very controversial. and one of the most controversial

aspects of the grain deal according to recent estimates as being that this being a differentiation, all the benefits from different countries with different regions of the world, from the grain do some estimates suggest that uh, between uh 60 percent and 2 thirds of the green exports actually went through the go global north into europe. specifically. whereas a small number of countries into one of asked me to, for example, a benefit from the green deals with, it's not being an even distribution of the benefits of the green deal. well, peter, right, come down to the get you to address that because that is exactly the criticism that vladimir put in his level that is green deal. he says, look, this has been a lie all the long. it was supposed to help alleviate the, the suffering and, and food insecurity of the most vulnerable people. but actually, africa has only been getting a tiny fraction of the grain from ukraine, europe, getting the lion's share of it. can you,

can you help settle that debate for us in the positive aspect of the great deal? and this is a very, very profound estimate to order an important estimate. he's that the grain deal has helped to moderate grain. uh, price is a serial price is a, across the world to moderate. the increases at the producer level, all of these prices because it is allowed, one of the key brand baskets of the world, both in terms of grain exports but also because of foot logic. sports, it's cruel ukraine. to have a lawyer the, the prices of brain and the estimates they anywhere between roughly 14 and 15 percent of global prices for the last 3 months have really declined quite substantially. dean 0 grains as a result of the black sea grain initiative. remember, the withdrawal of russia from the initiative only took place fairly recently. and so it was supposed to be fixed for the july prices to be looking at. i was

basically as a result of the initiative that has been in place for several years. so this being a, the positive impacts of the grain deal at the producer level of producer prices. that means they felt weighed. i think the um, even distribution from my uh you know, point of view. okay. uh, but if we had both together i think it would have been a much bigger benefit. i have mentioned already the background of the car on some of those competing in moscow. ready and this summit, i'm sure he's going to continue the distribution or distribution. the range of 2 distribution arrangements between moscow and 7 applicant countries. a how the panel we, we, we cannot see. and at this moment peter, something else i want to put on of yours radars. there are other factors that are weighing on fluid security, food in security as it were a globally. and i talked to us about number one. the in the ban on rice exports and

number 2, the heat waves that we're seeing just the weather conditions that are made get harder to grow crops at the moment. one of the key beneficial benefits that we getting from the harvesting event that's happening in, in the we to harvesting in the global south as being in latin america, for example, the knowledge and teen in these countries we've, we've, they've been able to export quite a bit of the grains august 15th this particular season. and they need the global more. we now see the big extreme effects of global warming. and the impact of, uh, you know, climate change onto production could capacity. the worst scenario i think is panting out there. it's not what the story can be expected as just pure droughts, but we've always been aware of the importance of, of mob scale fires and, and these are fires have a really devastating and destroying lots numbers of,

of krupps and across are the major producing regions. the indian situation is very, very important. why? because i think a lot of the arrangements in the, in the rice exports in africa for instance, uh south africa and in southern africa broadly, there's been a heavy dependency on rice exports from india and other countries. now i've since to stop the war, even before b lexie, granite, east of k mean. there was a kind of a tendency towards food nationalism as, as, as it was, quote at the time. and unfortunately, this has resulted in countries, especially countries that have historically has advantages inception crops such as rice, india b indicates occasion point of being saying while arguing that it is more important to secure the food consumption of our own country, randa then you know, to step in to compensate for picking pick up the war in increasing increasing

exports. but the fact is, i think that that also wasn't the situation at the moment to effect as specifically i think there's been a lot of disruptions to a global transportation networks. and this is affecting negatively on the transportation of food on a global scale. but a lot of the countries have also been affected by severe difficulties in affording purchase as a full, full purchase of inputs as a result of inflation to depression and, and the depth. the, the global debt situation as, as made the scenario, you know, a lot of countries, extremely adverse and extremely bad. peters who look at all these threats that are worsening food and security around the world. is there something that the international community in your view should be doing that it isn't currently doing? there are initiatives at the united nations level that i think we, we have to look at the re carefully and how to strengthen some of those united

nations level initiatives. the in the united nations initiatives. they are really about the delivery of sufficient for, for the world food program and other agencies to countries in the global south, especially with these as a, to the best situation needs to be extremely severe. and we look at the latest state, the holding security report that just came up and was moving to the beginning of this month where we've had an addition of a 122000000 people across the board as well. so if you have the food insecure, i the last the yeah, and this is an extreme situation. of course, we know that it is the compounding impact or both the war uh that the better and, and uh, the stove, the asked about the quote with 1919 pin pandemic. so we, we've got to have interventions at all levels virtually at the global global level, the key area in the global initiatives. i think these, the you and support for climate interventions that work ensure that the sleep

production capacity of countries become more stabilized. this i think will be one of the most important initiatives at the global level that the cost must, uh, you know, around the, around its pool pita t jacobs. thank you so much for your time. great to talk to you today. i appreciate it. take care, bye bye. the people supplies low to keep prices as high as possible. that's been the strategy of the world's biggest oil ex borders who have been cutting out put gradually since last year. but they've been concerns about weak demand inflation. and there's been uncertainty about the global economy until recently, markets largely shrugged off the cuts. the opec plus alliance had had little luck in pushing oil prices up. now though, there are signs that the supply cuts are paying off for them. the world's benchmark brent crude oil surged above $80.00

a barrel last week for the 1st time since april and goldman sachs expects prices to rise even further. early last year prices rose to more than a $130.00 a barrel after russian invaded ukraine. analysts say saudi arabia wants relatively high oil prices to balance its budget and fund and ambitious development programs. so saudi has been leading the oil production costs that now amount on paper to nearly 5 percent of global supply. in october last year, opec plus cut output by $2000000.00 barrels a day. it's the biggest cut output since the end of the pen demik. that angered the us, which was pushing the group to boost production in order to help ease prices. several months later, the alliance agreed to slash out put again, unexpectedly, the move in april 1st price is up to more than $84.00 a barrel, but price is soon dipped again. so saudi arabia announced a unilateral cut this time to output by another 1000000 barrels a day that began in july. it recently extended that through august,

and russia also now new carves on oil exports after much delay. moscow is crude traded last week above a price kept set by western nations. joining us from london is edward gardner. edward is the commodities economist at capital economics. so edward oil prices have been rising for 5 weeks consecutively. now what's driving that? so we're prizes in prison from around and $75.00 to borrow the stocks. it's a month to about $84.00 to buy and today the reason for the the price increase is mostly supply. so the supply coats the gradually taking place since august. the last year i have continued to constrain the markets, and we think that constrains supply from coupled with stronger demand from china, thanks to it's economic reopening and the end 0 coded and resilient demand and

developed economies such as the us or contribution to market participants expecting a time for oil market and the coming months. so from all sides, we focused at the global oil market. we'll be in a deficit in the 2nd half of this year. slipping from a surface in that 1st off of the yes and um, in large part of that it's due to strong demand in us on her arms at the moment. 20000000 barrels today, which was down slightly from last year. it's still close to the record high. it's 21000000 barrels today in the early 2, thousands. and that's at the time of by the interest rates for the better results. raising the interest strikes and china's reopening has led to increased refinery throughput crude oil. so in june, we had on nearly $50000000.00 barrels per day of crude oil being or 5 in china, which is the 2nd highest on rap on. so the combination of strong demand and lowest

supply, some pads, and some improvement incense when countries, things to increase price, the saudi production cuts, and the most significant that they've been in, in 5 years. do you expect that to continue? so you rank, it would rather see the oil price, stay steady, steady and have a full rob at the potentially rise to saw. so we wouldn't be surprised. does that sound great here extend that it's fine to into september, but, but from our market bombs estimates, we don't actually think that it's necessary. um, we do still already expect the oil market to be in a deficit, and the 2nd half is yet, which should purchase or the, or the price by itself. talk to us a little bit about this specific situation that russia finds itself in because europeans impose a cap on the price of russian oil, except, except the russian oil is now trading above that cap. so that, does that mean? now we know the conclusion is that didn't work. it doesn't necessarily mean the

price competence was the fact that versus crude oil um, in, in your can, can sell for more than $60.00 to borrow. now. means that to actually move that crude old russia will have to use known western financial services and logistics. and if we really think about what the motif off the product was from the very beginning, it was to limit rushes for revenues and not necessarily deprived the market of crude oil supply. so in that respect, if we do see where she continued to move crude oil even. so even when the critical product has a book, the 6 don't about have and you know, what we could see is russia still having to pay quite um, quite high amounts of money to, to sort of things. and these mon weston, um, provided movements, so audits crude oil and not crude cuts into its oil revenue was skills to find the

market with, with the bottles that is, is much needed higher oil and gas prices are a major concern for the us presidential by and we know that us presents, especially when they're going into the election year. they tend to want to keep the price of way low. do you think the us has much leverage over this? well, so we sold last year and the, the us depleted at strategic petroleum is us by an order of magnitude around 200000000 barrels. and now the s b, i still is a significant assets that the us has assets, disposal. i think it's still contains around 4 to 500000000 barrels that says cruise. um so if need be, the us could still deployed um crude or from that reserves um if the price the way to, to rise to concerning the high levels. but as things stand,

that's not really something that has been indicated by the us government. if anything, do you estimate as towards about starting to replenish, it's a s p all in the coming months. so it would be a bit to the, to use and really to start to see torque as the us using his s t all which is main . assets to come over the products. is it necessary in the coming months? edward, thank you so much for educating us on the ins and outs of the uh, oil prices, and would gardener there from the commodities economist, the capital economics. thank you very much. thank you. the cube is economic crisis is among the worst since fidel castro's 1959 revolution. many cubans are struggling with severe shortages and fuel food and medicine. they are leaving the island in record numbers in search of a better life. the government is opening the country to foreign investment to help revise veiling economy, but it says there is no quick fix to its financial problems. and it's now turning

to its old friend, russia to help ease the crisis. moscow has recently signed several deals with the island, including oil and wheat supply, sugar production, and torres and facilities. as part of the agreements, cuba has agreed to open its doors, the russian investors and banks. meanwhile, china has reportedly paid billions of dollars to cuba and exchange for the right to build a secret spying facility on the island. in cuba, as economy grew by nearly 2 percent last year. but the island nation is producing far fewer food staples than it did a few years ago. but joining us from barcelona in spain is hydro, lubo condo, dean of the college of communication, at the university of sharia and a latin america analyst. sir, what do you blame for this crisis? is it just the sanctions on cuba as economy or is it brought in in that? oh, i mean, frankly speaking it's a system that has been unable to be so successful, obtainable in texas for since the beginning,

the beginning of the revolution. all the big i can started by see the cost all back in the ninety's sixties and seventies to increase and improve to production fail. but and basically the costs up to on was one particular crock, which was sugar which day and exported to the soviet block at that time. and they got heavily subsidized dr. stuart, that the whole of productive agriculture upstairs or sector in, in q box. so system, the productive system has never been efficient enough to sell to be self reliable on their own for, and has always be dependable in the crisis accelerated 90 in the beginning of the 1998 because of the collapse of the soviet union. and that stopped the masses, subsidies that they, that the given a government used to get and which allowed them to board for at the bottom. uh, i mean, the situation there was sort of opening and they started import your voice from the united states. but uh, and they still do by the way,

but uh that obviously after the trunk came to power stall. and uh, what we're seeing is, is it's a system that is unable to produce and image on the 4th. it is people need. now the government has implemented some changes, it has opened up cuba as economy to, for an investment, to some degree and encourage small businesses. are you seeing the impact of that? well, it's not enough because it, there be, it's not always that's been payments responses to the, to the crisis is not just 1991 since the what they call the video. the seller was special. peter, which is a very hard and peter for them at the beginning of the ninety's. but it's not only that they the products, not be that a to me, but they have been erotic. they once they implemented, when a roku was it was empower one of their ministers to try really to modernize economy . he was basically brought down very quickly by the gospel and also sides. and who

knows, you know, what, what did they did to him up to what i mean? anybody who has tried to tell the truth to the leaders and say, you know, this doesn't work right now they're, they're trying, again, a and the good person to do some adverse over the phone. but again, completely under the control of the state. they, they open some address for the private sector, particularly the national investment areas like tourism, but like the spanish investor so has always been in cuba. they, but again, it's not, i know they have started to allow smoke and enterprise, it's a big place. but again, it's just not enough that people doesn't trust based on the long term. so. busy so the best number to buy me is to model nice. is it going to be to be self sufficient? i'm not going to come under this with you and because of its past history and it's, it's what i showed in terms of policy. they have turned to china and to russia for help. do you think that's going to work well to it is the only one who could help

them. but it's not that politically committed to have to rush. of course, the chinese want the uh, aspire base which they are now developing in cuba. and which is not very highly sophisticated as a center which has the readers and high tech devise to listen to the united states and, and that victims might get something in return. the russians are in no position to help anybody. they may need help if you've a dot in the past 1015 years was from venezuela, from who will chavez, when he was in power, even today when venezuela ice incomplete diet of crises and where the gas oil, the petrol that is sold in venezuela, sold us dollars in international price, the cubans are still getting a huge amount of oil from minnesota. and so there's a big political the so again, it's, it's economizing clock. so their main helper is now not nowhere to, to, to, to,

to be seen or to be able to call you back in the way they used to in the past 1050 years. so the situation in the, in the, i mean it's a difficult, again, i will have a very clear on that one thing that we need to recognize that the q and government is the recipients. they have been in very similar situations of the pop and they've been able to survive. now, i don't know the condo, thank you so much for all your insights again, and that is our show for this week to get in touch with us by tweeting me at the venue a serial. do use the hash tag a j c t c. when you do order office, an email, counting the cost of the houses 0 dot net, that's our address. but there's more for you online at alice's 0 dot com slash c t c. that will take you straight to our page, which has individual reports, links, an entire episodes for you to catch up on a sense of this edition of counting the

cost times several venue from the whole team. here in doha, thank you for joining us. the news is next on else is here the away from home, these ukrainians and bodies celebrate division and national holiday designed to uphold the traditions of ukraine's national clothing. with looks lot like a russians. we have separate land which we have national close. nearly 60000 russians arrived in body last year, making them the 2nd largest group of tourists. the number of ukrainians arriving is also increased, but the number of tens of russian arrivals,

the 2 countries are to the thousands of the citizens living on the side of each other on this inclusion i alena too is had a bakery in keys for now she says she'll remain here the dreams of the day and she can return home the the color that i'm associated paying this isn't use our line from our headquarters here in the coming up. in the next 60 minutes. we are united in condemning the actions that have taken place in the share us secretary of state and the same thing calls for our tons of democracy and is at off to wednesdays. cuz.