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tv   Business - News  Deutsche Welle  March 1, 2022 5:45pm-6:01pm CET

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this tell you, it's just the time the unpaid mirror is a lawyer by profession. he's come to the town hall to attend a meeting on the budget as a precaution. he didn't include any revenue from north street to in the budget, and he no longer considered north stream one a certainty. that household everybody was not. we will have to talk about whether we should postpone some projects a few or maybe reconsider or delay them. and so we can be sure that in the event that energy sanctions are imposed, we won't end up with a lack of money to finance our projects in good $15.00, it's young to project in household fields. tiny lou me now suddenly finds itself in the midst of saber rattling between moscow, keys, berlin, and washington. let's take a closer look at what this means for europe and its energy security with karen patel. she is a professor freakonomics and had of the for center for energy, climate and resources in munich. welcome to
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a d w. karen. what if president put, were to use energy as a weapon and cut gas supplies to europe? i mean, in the, in the short term, i don't think much would happen apart from rising prices. i mean, that is still a threat that is out there. but the longer basically he is delivering, he is exporting fossil fuels, especially gas, be less problematic. the situation becomes because winter is progressing. the re, a problem would occur next winter because we would have to fill our reserves in the summer. it would feel the gap in the winter, the entire winter. so that would be the real problem. europe and germany in particular say, energy sources need to be diversified away from russian fossil fuels. how quickly is that possible?
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i mean, what is possible is to some extent to increase the imports off l n g. although there is capacity limits with respect to those imports, there's currently only some limits or some of them, it's not reached in the south of europe. and then it's of course, always the option to re fire up on to reuse more coal, to potentially in germany. let the last remaining nuclear power plants run longer, but the long run option really is to go for a faster expansion off of renewable energy and decrease in demand for energy efficiency measures and the like. and which one do you think is more likely, amid this situation? of crisis right now at the moment, um, like i said, everybody is mainly concerned about next winter. so the aim will be to actually fill up the gas tanks in the summer. and to assure that for example, alan g,
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but also pipeline gas is route to germany. so trying to get the contracts in advance. in the medium term, it's going to be the renewables expansion combined with. and that will be the good question because we were counting on natural gas. and so one option would really be that if russia is not exporting in the long run that gas prices, higher gas prices would actually, ex elite, an expansion of the l. n. g capacities and that is already happening. it might just increase and paste an deal. and it comes as a price, a price, or dealing with this, with this short term demand that, that, that might have to be bridged a when it comes to moving away from, from a russian fossil fuels. where is l n g liquefied natural gas going to come from? i mean there is, of course, a number of sources cut off among them the u. s. australia. so there is already
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a number of or quite some allergy capacities out. there is just so far. asia is in pay, importing, the bulk of it and the capacities in europe in comparison are relatively small. and karen, as this conflict is nowhere from being resolved right now. and obviously there are a lot of issues at stake here. outline for us, your vision of how energy security will, will be managed in the coming years. i mean, in the coming years i would say ok. press the button on the renewables because this has been lagging and germany, but that has been the aim all along for last year. and then combine that with a more diversified and secure energy, especially energy input that would require on the one hand, of course, for example, building you terminals in germany, but also other locations, but also improve the connectivity within europe within the gas grid. because so far,
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i mean there's capacities free in spain is just the question, how to get it to the places where it's needed. karen patel of the for center for energy climate and resources and munich. thank you for talking to us. thank you. russia is not only a major supplier of energy to the global market, it's also the world's largest exporter of wheat. and one of its most important customers is turkey. the country that has been grappling with its own economic crisis for months now people in turkey have been suffering from high inflation. and now many people fear already high prices could rise even further. the opposition is taking advantage of the bad mood people in istanbul can vent their anger on mobile posters. if you're not in line for gasoline, you're in line for subsidized bread they say, or give us back our youth. inflation rows by almost 50 percent in january compared
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to the same month last year. more and more people fear for their livelihoods. but what we used to buy for one year and now costs $3.00 leer us. what we used to buy for 10 years is 30. there is now. in other words, people can no longer afford to buy food and bread. me let alone shopping and travelling ally food is so expensive because turkey has to import a large part of its needs. it's most important supplier for grain is russia. the city, when they talk about relations with russia, we usually think about weapons or energy yet, but much more significant is that turkey is very dependent on the russian agricultural market, especially for wheat, barley of sway beans, sunflowers, cornwell, we buy everything from russia bathroom to go to new ukraine is also one of the
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world's largest wheat growers. now there's fear that the pressure on prices will increase further due to rushes, ongoing invasion. and this at a time when many in turkey can only afford state subsidized bread from all its calls over to istanbul, andy w correspondent, johannes reports you just saw julia if the situation with russia is so difficult and prices are likely to rise further. could turkey get its grains from other suppliers? well, turkeys, agriculture, ministry recently said that it does not expect grain supply shortages due to the conflict and that it could turn to other sources. but if you look at the figures, russia and ukraine together account for nearly 80 percent of turkeys, wheat imports. and right now it's unclear if these 2 countries will and can continue to supply. and at which cost, even if other global suppliers like canada or the u. s. would step in,
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it's likely to get more expensive because of rising transportation and energy costs . i'm experts here in turkey. economists tell me that they do expect for the price hikes for basic goods, especially for bread, but also for gas and oil. so the consequences for turkey's already ailing economy could be quite severe. skyrocketing inflation has already caused a lot of anger and despair. and now the war could actually add pressure to already existing problems. julia target president, reserve tar about along is warping us in line here is out of a new member country of the same time. turgeon as economy are heavily dependent on its ties with russia. well, take a show president edwin has developed close economic and political ties with both a russia and ukraine in recent years. and yes, that has put him in a delicate position where we see him now trying to balance his commitments towards
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ukraine. a turkey thought. com, the trojans to the ukrainian government, are they also a ne, announced new trade deals with on the other hand, it's ties to moscow. and now turkey and russia have a considerable trait. volume worth nearly $35000000000.00 us dollars last year. turkey depends on russian gas on russian tourists as well. russia has invested $20000000000.00 us dollars in a nuclear power plant here in turkey. so add on, can't afford to fall out with russia economically. and i think that to large extent, explains his political balancing act. and drew a ruling from the shark of massive economic losses due to the karone of ours condemned turkey was optimistic that its economy would bloom for its tourism sector this year. but now struggling under the russia ukraine conflict, how well no other country has been sending more tourists to turkey,
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then russia, nearly 5000000 people last year. ukraine actually ranks 3rd with about 2000000 people after a germany. turkey heavily relies on foreign currency inflows, but now a turkish tourist, tourism associations and agencies are worried are afraid that people won't come ukrainians for obvious reasons, but they also fear that russia's president putin might announce another a travel band for russian tourists to turkey or that payments due to the swift sanctions against russia, international payments are, are difficult or nearly impossible. so the tourism industry really fears great losses. we're talking about several 1000000000 us dollars. there is a lot at stake for the turkish tourism sector. d. w. corresponded to johan in istanbul. thank you. you've been watching a special edition of dw business, russia,
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and economy at war. the international response to russia's aggression has been swift and concerted. western powers are hoping, inflicting economic pain by a sanctions will push vladimir putin to reverse, whose course it's all from me and the business team here in berlin. thanks for watching. ah ah with
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ah, the ah, i think is everything jenny fair some are big a muslim. so much different culture between here and there. so challenge for
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everything ah, conditions this i think it was worth it for me to come to germany. shop my got my license to work as a swimming instructor dish and now i teach children and adults just wanted to see what's your story take part, share it on info, migrant, dot net with
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. ah, this is the w news light from berlin. ukraine calls for immediate admission to the european union president and skeet delivers an emotional address to the european parliament and received a standing ovation at his request still faces big hurdles. also on the program, satellite images show a massive convoy of russian army, military and vehicles, just north of the capital and closing it. brutal assault on ukraine, 2nd largest city car. and russian asked dr. hits the city center leaving dathan to .

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