a or exploiting the amazon rain forest indigenous peoples or don't briefly opposing them because it's not only the earth's green ones that are doing the right to it. and there were people don't want to report from the heart of brazil. stuart to march 9th on d. w. ah, ah, a total economic and financial war. that's how the french finance minister puts western allies have had russia with a swath of economic sanctions over its invasion on ukraine. we'll take a look at what effect they've been having and what their limits are. also coming of oil and gas prices have been galloping industry heavy weights like b, p, and shell are divesting of multi $1000000000.00 projects in russia. what will this

conflict mean for europe's energy security will get an expertise and will go to turkey, where people fear that clamping down on rushes economy could push already high prices. even for chris kolber. welcome to this special edition of d. w. a. business, russia, and economy at war. the international response to the russian aggression has been swift and concerted as of a broadcast sanctions include russia's exclusion from the international payment messaging service. notice swift restrictions on russian banks, asset freezes and travel bands as well as bard access to high tech. the full extent of the damage rushes war cannot yet be known, but western powers are hoping, inflicting economic pain will push president putin to reverse his course

economy sanctions and nothing new for russia. and yet, most people here have no idea how big an impact the latest financial sanctions will have on their lives and their families. the one is only on the up and i can't even say much about it. most people can't anymore booker. i'm sick with her nip in the morning was just a yuk of silica. there wasn't much business as a business man. i am looking at the factory. yes, i will likely have to work more for about what can you do? we'll have to live with this and just hang in there it is. what it is, not alonzo numbers and for those rogers, the daughter, but she observed her to come in yet. no. the sanctions won't hurt us much. we are simple people and don't half much in terms of savings. it won't hurt us, but it will hurt the economy. no better than the aux yukon. we couldn't use that to discuss that as evidence on the financial markets. the rubel dropped dramatically this week. the key interest rate has been lifted from 9 and

a half to 20 percent. it's a drastic step for russia central bank, whose president is worried. let's keep at central gather the parameters for the russian economy have changed fundamentally. the latest sanctions have led to a radical correction and foreign exchange rates are also our access to financial reserves has been restricted. we will need to use a wide variety of monetary tools to guarantee financial stability for our country. but the xanax, finance, of aesthetically misty analysts say the central banks, drastic measures are necessary, but they are also a risky bit. we'll talk rudy earliest you ross raising the interest rate so drastically could be too much of a burden for many businesses. they might become in solvent that could lead to higher unemployment and an economic crisis. a burglary as well. the tense economic situation has russian, president putin worried to. he is called the western block,

an empire flies and has limited transactions from russia into foreign countries. he has also ordered interest rates for personal loans to be kept stable. meanwhile, one of the country's most influential oligarchy, or licked airy pasco, has demanded an end to russia, state capitalism. other all the gars, including if jenny lieber, deaf and olive tink of have openly criticized the war against ukraine, put in is not used to such criticism from the business elite elizabeth murray river of this whole war scenario is a disaster for the entire economy. and for people personally, lab work in russia, of course, the government isn't calling it a war, but a military special operation for more or less bring enjoy a ga follow. she is a senior research fellow at the german institute for global and area studies. welcome to the w julia. do you believe that sanctions will help stop this war?

so thanks are usually pretty different goals and one of them did to forest behavioral change. and that we get, i'm very skeptical though, because i feel that the current ration responses chiefly influenced by the situation on the ground and crane and also by the recent announcement of the in, due to deliver but off the different goals. they signal that the russian invasion of the king was the blend nation of international law. and the thing that has been very clear and very swift and they seem to constrain the vision financially and economically, which will have an impact on the russian behavior. in the mid long term. the french finance ministers, western sanctions, will bring about the collapse of the russian economy. is that likely? so a lot of the impact of pensions usually unfold over time in the content. the been

on the technology from the you and for us to russia, but we have seen some pretty swift, immediate consequences. the rule left about a 4th of spelling you and we also see ordinary russian king to withdraw the money we will probably see. right. and then there will be consequences that rational mode. so how do you evaluate the impact of these sanctions that they have, right? even having so i think they have, as i said, quite remarkable. it can be consequences also compared to the sanctions that we saw in the context of the premier prices. despite these remarkable economic and financial consequences for the russian regime, i don't think they will for the russian regime and put into any behavioral change

in the short term recruit sanctions and the i'm constantly holding have different time horizons and the impact of sanctions. the usually more midterm, whereas the current question responds this reading into what's happening on the ground in ukraine. does that mean then, that in this conflict we basically need to wait out until a military, let's call a solution, or a military goal is achieved? not necessarily this even further measures in terms of sanctions. chris, the fries, the russian central bank essence is already remarkable. and it seems that current measures have been almost 80 percent of the russian banking assets. but the pensions could predict and the currently transaction that's related to the ex or the ration gap and not completed yet. so that is that too often

for the escalade, the current sanction. so there's some potential for the leverage that you've got as well. that is something that germany in particular is shying away from at the moment. jury, let me ask you, western companies are pulling out of russia. b, p, and shell. have abandoned multi $1000000000.00 deals. what will the toll of sanctions on russia be for company in the you and elsewhere? so it's impossible to, to implement such comprehensive sanctions like the ones that preparing on an economy like russia without turning off the dress degree professions for the german and the european economy. my, we should not forget about the repercussions of the, for the russian population. so there will be certainly financial side

to golf hall of the german institute for global and area studies. thank you. thank you. it can amik sanctions are taking their are tall on both sides, albeit in different volumes among the more heavily affected and you are companies in eastern germany. they see their traditionally close business ties with russia under threat. the final test run, the wire being wound up hears for producing springs that close valves in industrial plants. the measurements must be precise and the surface has to be very smooth. this specialized machinery produced by the cabinets based company, hazel shine, can produce steel, copper, and other wires. such a machine costs up to a $1000000.00 euros, and each one is custom built for buyers. this company is a market leader, but managing director,

yann's casual stein doesn't know whether he can keep all is 45 employees. some top customers are in russia, but the sanctions resulting from russia's invasion of ukraine complicate business of your market. we're currently preparing a contract with several 1000000 euros over the next 2 years soon if the contract and not be fulfilled according to the current terms. we will of course, need or have to look for alternative customers. we're going that will take time. it will lead to a cut and working hours, and in the worst case scenario, to layoffs, human fuzzily from some folks in buffalo. the medium sized company keys will shine, is not an isolated case. in the eastern german city of cabinets, formerly karl marx, dot many companies have longstanding business ties with russia. christoph newburg, a foreign trade expert at the regions, chamber of industry and commerce, believe that hundreds of millions of euros and sales have already been last year due to the sanctions falling rushes annexation of crimea, and 2014. today,

putin's war could bring trade with many former soviet republics, such as georgia to a standstill because russia actually has a central distributor function. many companies have established a subsidiary in moscow or in other russian regions, especially in the metal processing sector. and from there they were active in the surrounding regions of year. the money done applied or slowed into the company. c o u n. keys, holstein does not believe that the plan to new sanctions will really hurt russia. at least not as far as trade is concerned. as we have asian competitors there who then would just bridge a gap in the market and that would lead to cuts in our business here. so others would just fill that gap out. put up with yann's keys or stein is certain that the

only complete exclusion of russia from international payments systems can really put pressure on the autocrat vladimir putin. now when it comes to hitting russia where it hurts the oil and gas sector represents an outside just target. although sanctions so far have largely spared these key industry. however, international energy giants are taking it upon themselves to review their business activities and russia with some packing it in altogether. oil jane shell is ending its corporation with gas prom and t. oil and gas projects. worth about $3000000000.00 from black shells. decision follows a similar move by b p, which said it would abandon it's nearly 20 percent stake and rushes state on rosin f, resulting in ahead of up to $25000000000.00. meanwhile, in germany, the government has officially slammed the brakes on north stream to the under c

pipeline. that was to take russian gas to the baltic sea to germany. the already controversial topic has become toxic, which also means those that had been banking on its operation need to readjust, like in lieu, mean in the northeast of germany. no day as like any other here in lou mean, what the mer long feared would happen, has now become a reality. germany as put the certification process of the completed north stream to gas pipeline on hold on route to his office. ox or folk drives past the pipeline . so close to going online, but now it's future is unclear. sitting on the, on the one hand, we are concerned about, there's an escalation in ukraine and put on the other hand, the fruits of years of work are now in question when it comes to ne dreamed to young. although it's a fight in augustine in flight. the twisting, the north, 31 and 2 landfall facilities are in the mean. the 1st pipeline has brought one and

a half to 2000000 euros of tax revenue annually into the resorts coffers the past 11 years. but now pro russian sentiment in the bean is crumbling in on that, we believe that any forms of violence that violates international or state law or human rights is never acceptable. diplomatic solutions must always be sauce. and i strongly believe in that hope that if not before guns thought 1200 kilometers of natural gas pipeline through the baltic sea. and here, a real dimension for such a small place, almost other getting bigger for we were all really looking forward to it such a shame, let's hope that reason will prevail and an agreement can still be reached. if one's alternate results, we shouldn't lose control. we can produce or develop our own things because no matter most is there has to be a means of exerting pressure. but we've been misled. we have to pay the price. how much extra do we have to pay now?

yeah. and how expensive is natural gas and how much, what we have to pay for all this, tell you i've got a list of times 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 nurturing to in the budget, and he no longer considered north stream one a certain t. everybody. we will have to talk about whether we should postpone some projects or maybe reconsider or delay them. and so we can be sure that in the event that energy sanctions are imposed, that we won't end up with a lack of money to finance our projects. good food, if in the field house i teach, 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 for economics and head of the for center for energy,

climate and resources. immunity. welcome to d w. karen. what if president 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 real problem would occur next winter because we would have to fill our reserves in the summer. we 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? 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 through 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, 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, 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. and dealing comes at the price of the price or, and dealing with this, with the short term demand 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 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. 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 ellen g, especially energy input that would require on the one hand, of course, for example,

building new terminals in germany, but also other locations, but also improve the connectivity within europe within the gas. great, because so far, 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 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 cost $3.00 layers. now what we used to buy for 10 years is 30 years now. or in other words, people can no longer afford to buy food and bread. me let alone shopping and traveling ally food is so expensive because turkey has to import a large part of its needs. its most important supplier for grain is russia. the city when they talk about relations with russia, that 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 sway beans, sunflowers, cornwell,

we buy everything from russia, missouri to go to new ukraine is also one of the 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 cars . over to istanbul, andy w correspondent, joy hahn's report. 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, 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 is 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 during the target, further than to retire 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 ukraine. a turkey thought combat drones to the ukrainian government. are they also a ne, announced new trade deals with, on the other hand, it 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 mass of economic losses due to the crone 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,

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 or 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. how 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, and economy add 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 flooding, reporting to reverse who's course it's all from me and the business team here in berlin. thanks for watching. ah, ah, with

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they've had no peace for for decades. the people of iraq our country is devastated and there's no end. how did it come to this? gina witnesses revealed unprecedented story. they were pretty the u. s. they knew what the consequence of these sanctions are. and they've liked the world about exactly like darma and the poisons bear. with the great documentary series

destruction of a nation starts march 4th on d w. ah, [000:00:00;00] ah, this is the w news live from burly, almost one week into the invasion of ukraine. russia is upping its assaults on the countries main cities in the capital keep air strikes today, hit the main t, v tower, knocking out some broadcasts, and in the 2nd largest city, hockey of an attack, leaves death and destruction in its white. also coming up, let us in the cranium. presidents zalinski is emotional address receives

a standing ovation of the european parliament. but his request for immediate