top story we're following for you. west president joe biden says he's imposing a 1st tranche of sanctions on russia targeting financial institutions, bosco's access to western finance markets, and russian leafs, he said, russia had started an invasion of ukraine and described its recognition of 2 separatist regions in eastern ukraine as a breach of international law watching d. w of next, christy blatt's in with business. ah, they've had no p 40 for decades. people of iraq. countries devastated. and there's no end to define how did it come to this group this is revealed and

unprecedented story. he behaved exactly like the gums and the poison spread. bear with me. 3 new life the great documentary series, iraq destruction of a nation starts march 4th on d. w. ah ah, new sanctions targeting, targeting russia from the e u and the u. s. u s. president joe biden says russia will pay an even steeper price if aggression and ukraine continued. and germany holds the certification of north stream to the completed gas pipeline was meant to double the flow of russian gas to germany. well the middle of cardboard, this is dw business,

i'm christy plots, and in berlin us president joe biden has an out sanctions on russia that will go far beyond those use when moscow and ex crimea in 2014. the move is in response to russia's military escalation against ukraine. the sanctions will target 2 large russian financial institutions and moscow access to western financing, as well as russian oligarch and their families. biden said the u. s. is prepared to go further. should russia expand its aggression against its neighbor? for more we go now to james sweeney in new york city. james. hello. what's the reaction we're seeing on wall street? well, it's interesting because at 22222122222. i was on the floor, the new york stock exchange, and that to 23. why didn't hit the screens in the markets which were down about $700.00 points, received a bit of a lift,

rebounding about half that only $350.00 points. all because president biden spoke a big game. the markets were waiting to see if he could talk to talk and he did, you know, the sanctions on russia, banks b, b, it's military bank, you know, sanctions on its sovereign debt and certain wealthy individuals in the markets that were just very happy. he did something and made an announcement. well, james, fine. so these moves are also going to have a cost at home. what can ordinary americans expect? well that's a very big question for us americans because we're already dealing with 40 year high inflation levels. energy prices, that fuel natural gas, the continue to store vehicle prices, sky high, roll, supply materials, shortages, real estates through the roof. and even just the other day, i was in a supermarket by $20.00 grocery bills now $35.00 because the price of me, dairy and vegetables have stored in the last 12 month. so to give you a broad answer, what americans can expect is more financial hardships, paying more for everything in anything. and even more will more upset americans who

are struggling just to get food on the table for themselves and their families. since quite frankly, the bite in a ministration took office in the past 12 months. and it's back in russia. make americans happy and both the short and long term that was james sweeney in new york . thank you. while the u. s. isn't alone and reacting the nordstrom to baltic see pipeline has been controversial from the start. and now it's officially been called off, at least for the time being germinal or german chancellor off shots has stopped the certification process of the completed pipeline on tuesday. after rush up formally recognized to break away regions in eastern ukraine, the 1230 kilometer nord stream to pipeline, which cost $10000000000.00 euros to build has been ready since september last year . but has yet to be put into operation germany withheld approval due to the russia ukraine, tensions and its shelving the project. for now,

after moscow recognized the self proclaimed peoples republic of luke guns can don't ask habit, i have asked the federal ministry of economy today. it withdrawn the existing report and on the analysis of supply security at the federal network agency. this may sound technical to get, but it's a necessary legal step. so the certification of the pipeline doesn't take place. and without the certification, nordstrom to can't go into operation, rushes state owned gans prom is getting hit, the hardest its share of the construction cost amounted to 5000000 euros. even worse for gas prom and the kremlin, is that a projected annual 55000000000 cubic meters of gas won't be delivered to germany. revenue that will be missing from russia's budget. but germany is also paying a high price. the plant phase out of nuclear and coal fired power plant is creating supply gaps that russian gas was supposed to fill. and germany must now purchase

more expensive liquefied natural gas by ship. the russia ukraine crisis will also heard european energy consumers who are already paying much more for gas than they did last winter and it goes farther than norden. stream to the european union has also announced initial sanctions of their own to put pressure on russia. you member states agreed to bar russian government access to u capital markets. they'll target overseas assets and visa of russia, russian dumas, 351 members. and the sanction $27.00 russian individuals ends and institutions tied to recent events. knots, including banks with links to the russian military. you, commissioner vander lion says, members want to make it as difficult as possible for russia to pursue its aggressive policies. and over in the u. k,

a 1st round of sanctions will target the assets of 5 russian banks and 3 wealthy russians. london is a very popular destination for assets of russia's wealthiest prime minister boris johnson bowed a barrier of further penalties. should russian aggression continue? i spoke early with theresa fallon, director of the center for russia, europe, asia studies in brussels. and here's what she had to say about whether these sanctions will be enough to make a difference. the big issue was energy and we need unanimity from all you member states. and before the sanctions were even announced, it was understood that both austria and hungry might be opposing it. so having unanimity was a big question, but that seems to have been overcome now. and also the key issue is energy issues because both france and i'm sorry, germany and italy did not want to have sanctions on energy. we've seen increased

dependence in energy by european member states dramatically actually since 2020. so i think that this hasn't been an error of resilience and the figure for today's that combined u. s. u k. and you purchases of russian energy will equal $330000000.00 in just 124 hour period. so that's a real lever, but i should add an important signal from this morning was when chance, who german chancellor sholtes announced that nordstrom too, would be put on the back burner. so that sent an important message to the recipe member states that that they were sincere about sanctions. but that won't hurt because it's not really been used yet. it hasn't been certified. so it's a signal that they want to have intense sanctions. but this is the 1st trench of sanctions because the big debate now is how they actually invaded, or the going into regions that were previously occupied by russian proxy troops. so

i think the kremlin has deliberately that's rather opaque and so they're supposed to be like stepped sanctions. so there was a big debate about what has actually happened. right, right. well talking about energy as you just brought up. i wanted to ask about that because that's really been a major pain point for europeans this winter. now we're seeing oil and gas prices jumping today, even higher amid this escalation. how is this a jump in the price of energy likely to affect the european economy where we're already feeling a pinch? this is the issue now. oil's at about $100.00 a barrel of breath crude i should say, and gas prices. we've seen a teaser from a former president jimmy treatment, data threatening europe, that they will more than double gas prices if they impose any sanctions. so the russians are really playing hardball. and because there's this increase dependency on russian energy, the russians understand that they have a real lever of influence over the europeans. in addition to that, we have the post covered 19 economic landscape which does not look good. and people

don't really have an appetite for higher energy prices, which will also increase inflationary pressures. so this is a huge problem for europe. and i think that this is part of the timing of this whole schedule of put and he understands this. and he has deliberately or some ellis have said, including the international energy agency that europeans did not have big stockpiles. there's very little gas in storage last i checked about 5 weeks left, but it seems in some areas in the hardest part of winter is over. but i still think that this will hurt in the pocket book, and politicians are worried about that, especially some politicians will be facing election soon. well, as you mentioned, germany has said it's halting approval of the northeastern to gas pipeline from russia. who is this going to hurt more germany, russia? well, the nurturing to pipeline hasn't been used yet, and germany will continue to get their energy to other play routes. but i think

that had sent a clear message that germany was really serious and that had an effect on the rest of the you in regards to the sanctions because it will, over the longer term possibly hurt the german economy because they put such huge investments into this pipeline, and let's not forget that europe has actually grown independence on russian energy up 26 percent over the last 10 years. and now it's at 42 percent reliance on russian energy. so there is a conundrum here that the europeans are actually paying for the russian energy machine if they don't put sanctions on energy, even though it may be very, very painful for these economies. theresa fallon: many thank you now to some of the other global business stories making news today. ah, german car maker v w group is moving forward with its plans to list it's a sports car subsidiary. portia, on the stock exchange, the 2 companies have agreed on the key terms for the preparation of an i p o,

which could be one of germany's largest in years. hsbc says it's oil and gas. plants need to cut emissions by more than a 3rd vis decade. if they want to keep getting loans. hsbc is a major lender to some of the world's biggest energy companies. it's plan is expected to set the tone for other banks, most of which have yet to release emissions targets. and in britain, the number of women in top company boardrooms has jumped to almost 40 percent from just 12 percent 10 years ago. according to a government study, britton's business secretary said the figures show that the u. k. is voluntary approach to equality is working without the need for mandatory quotas as deployed in countries like germany and a reminder of the top business story we are following for you. this hour, u. s. president joe biden has announce sanctions on russia that will go far beyond those used when moscow,

annex crimea in 2014. the move is in response to russia's military escalation against ukraine. the sanctions will target 2 large russian financial institutions and moscow access to western financing, as well as rational guards and their families. that's all for me in the business team here in berlin for more check us out on our website, d, w dot com backslash business. we're also on the dw news youtube channel, and you can find us on facebook as dw business. com next time better to be irradiated than it was to him, and you already made a decision to leave the war torn eastern ukraine for life in turn noble. can they build up something in the fall now to region? is it an opportunity or an unknown risk moving to turn the album close

off. so the next d. w. we have something to celebrate. the 77 percent has reached $100.00 show. $100.00 times. we've taco the issues that my thought most to you. with boundless passion, i'm the loath added to the 100 food office, 77 percent. the 77 percent. in 60 minutes on d. w. o. dogs are more intelligent that most people say ah, psychology professor john pillay has proved it. how you ask it

with scientific studies? of course you're doing. okay. hey tina. good girl, paul. out of the secret of the french dogs and us started february 25th on d, w. mm hm. ah ah, beauty entry of is passionate about farming. he fled to warren eastern ukraine after spending $200.00 days imprisoned by separatists. he survived and is now re cultivating feels nature noble. debris exposed to radioactive, full 0 money. this was the only place where land was available. more football, thankfully there are no mines exploiting. here. everyone is safe to stylish review

and these really stories.