the u.s. says no more exceptions to its oil export sanctions on iran so will it really go after major importers like india and china and what could today's announcement and iran's reaction mean for the global oil train. and what's the proper work life balance ali baba's jack ma says chinese employees should spend more time working but the country's rising middle class isn't so sure we'll take you inside the debate. i'm stephen burns in berlin thanks for joining us the white house has announced the end of waivers for countries to import iranian oil us had reimpose sanctions against iran last year threatening to punish any country that buys oil from tehran but it granted waivers to the eight primary buyers of iranian oil allowing them limited purchases for six months there are fears that removing the waivers now would reduce oil supply to

a market that is already tightening but u.s. officials say any shortfall can be picked up by other countries including the u.s. itself and its gulf allies. to trumpet ministration has issued a blunt warning to nations buying oil from iran after may second there will be no exceptions to sanctions norway various nations that continue to buy uranium oil will be made to suffer more you are going to zero going to zero across the board we will continue and for sanctions and monitor compliance any nation or entity interacting with iran should use its diligence and err on the side of caution the risks are simply not going to be worth the benefits pump a is that the us had granted enough time for the affected countries to wean themselves off of rainy and oil and find alternative suppliers. before washington re-impose sanctions against around last year tiran produced around two point three million barrels of oil per

day around five percent of global i pushed until now washington had granted some importing nations waivers on the oil sanctions china and india are the biggest buyers of raney and crude recently they've stepped up their purchases along with south korea basically increase on the other hand if managed to cut their demand turkey had been fighting until the last moment for sanctions waiver extension. pumping you went on to say that there would be no grace period for those economies to comply despite sanctions iran's oil exports are said to have increased iran twelve percent by the end of march but it's hard to say how accurate that figure is iran conceals the exact in mind by making good use of its armada of oil tankers the second largest fleece in the world. now in response to the us decision iran has repeated its threat to close off the strait of hormuz such

a move would send tremors through oil markets is why the narrow passage links the persian gulf to wider seaways it strategically important because it's the bottleneck through which major gulf producers like saudi arabia must ship their oil a third of the world's seaborne oil passes through the strait of hormuz making it the world's most important oil artery some eighteen million barrels of crude oil per day would stop flowing from the middle east were iran to actually close the strait that according to industry analysts well let's talk more about the latest sanctions pressure coming out of washington d.c. i'm joined now by helena humphrey in washington and our financial correspondent jose luis de haro in new york. let's start with you why is the trumpet ministration choosing now to push even harder on these sanctions. stephen this is gloves off from the trumpet administration it's been upping the ante against iran in recent weeks with the aim of bringing the country back to the negotiating table on

the twenty fifteen new deal and is prepared to choke the economy to do so remember that iran has fifty billion u.s. dollars every year from its oil and certainly washington d.c. has been in action a list of measures in recent weeks two years a two weeks ago it names the iranian revolutionary guard part of the government as a terrorist organization and you know trump and netanyahu the israeli prime minister also drawing closer in recent weeks of course israel and iran sworn enemies so essentially d.c. right now is trying to do anything they can to make test runs life more difficult. so it was a win for the political goal there but what does this mean for the global oil supply. is not going to be easy to maintain as a trumpet ministration which is even if saudi arabia and the arab emirates increase their production along with the united states stephen first saudi arabia has

already said that it will wait and see what the outcome of not extending the waivers will be for on top of that all the opec members such as iraq have already expressed concern with say members who would not to make a unilateral decisions to raise output meanwhile some countries don't produce the kind of oil iran doesn't which are many refiners need and most important sanctions on but as well an increase in tensions in libya pose a rising risk will leave a very tight margin to maneuver any other shocked at will in danger global oil supply the whole of the u.s. sanctions of course carry major weight in a global economy that largely deals in dollars is the u.s. really ready to challenge major weights like india and china. right i think that's a very good question i certainly think some of the nations reacted with some shock to learn that this waiver would not simply take over and be extended and if you

take a look at india for example it has friendly relations with the united states that said i think it's fair to say say that delhi does not view iran as the regional threat for example that the trumpet ministration does if you're talking about china of course that's another kettle a fish and the united states and china are of course the currently engaged in trade negotiations which could be complicated further by this move not to mention the fact that china has recently increased its use of iranian oil so we could expect expect some back channel discussion on this certainly hasn't outlined exactly how these sanctions would take shape and if you take a look at you know some other powers for example the european union it established a mechanism to allow businesses to circumvent sanctions with regards to doing business with iran so it just shows that you know powers will take a stance on this who's they briefly what are the odds this could actually backfire on trump domestically with higher gas prices in the u.s.

. it could mean a big ways to even especially take into consideration that only on mondeo oil prices rose three percent hit india highest level so far this year at the movies as specter did to push u.s. gaza prizes. ten cents a gallon in the lead up to the summer driver season here in the u.s. there's no gas prices are reported in the u.s. helena humphrey in washington and those who say louisa harlow in new york thank you both for joining us. on to some tech news samsung is postponing the launch of its much hyped two thousand dollar folding phone that after reports of breakage has some early reviewers even called the galaxy fold unusable just forty eight hours after receiving the device the south korean firm said an inspection suggested the breakages could still from impact on quote exposed areas of the hinge and quote the delay is a setback for samsung as about all stiff competition from rivals like while way and

apple a new release date is due to be announced in the coming weeks. what's the proper work life balance opinions in europe are certain to be different from those in say the u.s. and of course many around the world don't even have the luxury of thinking about a balance much less debating what they work to survive now the boss of online retailer ali baba chinese tycoon jack ma has served up the debate about work life balance in asia where the middle class continues to rise he wants workers to put in even more hours. but self-made billionaire jack ma is a star in china and young people hang on his every word so he caused quite a stir when he said he wants more people in china to work nine nine six nine am to nine pm six days a week he says to build a powerful and prosperous nation workers need to put the hours in. the fortune of forty billion dollars jack miles a local hero and seen as a visionary he advises the government on policy young entrepreneurs idolize them so

when he wrote online this month that working in one nine six kegel was a huge blessing on longer working hours were needed to be a proud citizen it struck a chord in a country that prides itself on being hard working debates began in factories and office blocks. and has a different value of work comes down to the individual's choice for young people after many years they may think they had a precious work opportunity but they may also regret they had sold themselves cheaply. that. others believe that efficiency not longer hours is the key to more competitiveness oh a patient over time is fine but if it becomes long term it may harm physical and psychological health it is acceptable to struggle for your career once in a while but don't make it a norm. and there are fears that too much labor is god for your health. working nine nine six every day to make sure over time longer than twenty or thirty it's definitely harmful for your body. is that. not everyone is convinced. jack

miles nine nine six call the chinese economy matures people want to balance that allows for more life and less work. now whether it's a device at home or one of the office it better be protected with a password and that better not be one of those from a new study of common passwords by the british national cybersecurity center the most used password of them all and therefore the weakest is yes one two three four five six more than twenty three million people think that's secure enough or just don't care and the second you can already see right there the second most common one two three four five six seven eight nine also pretty weak is qwerty looks safe maybe at first sight but it's simply the first six letters on the english keyboard also easy to break. names that people can guess loved ones for example actually and michael topped the list in britain followed by liverpool even better according to the experts something like this there's

a good chance that no one will ever access your data maybe not even you. and that's our show i'm stephen thanks as always for watching.

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tomorrow today. w. . on april the twenty fourth two thousand and thirteen the rana plaza complex in bangladesh collapsed crushing today as one thousand one hundred thirty five.