story, the us chain always to understand this new culture. so you are not the visitor, not the guests. you want to become a citizen. in phil migrants, your platform for reliable information ah, with ties to many partners cut over it's war in ukraine. russia is trying to reorganize its economy and china could be playing an even bigger role than it already has been. we'll get analysis from our correspondence also coming up, missing vital parts and components. the current of ours pandemic has been straining supply chains. we'll take a look at how russia's aggression is making a bad situation worse, and will go to the world mobile congress in barcelona, which has taken its own stand against moscow's invasion. chris kolber,

welcome to the program. in response to russia's invasion of ukraine, a number of russian banks no longer have access to the swift international payment system. now that could open an opportunity for china's alternative cross border inter bank payment system or sips. as china is russia's leading trade partner, unveiled in 2015 sips to help establish the you on as an international currency sips aim is to allow banks to process cross border you on transactions directly. now according to chinese, a visual data sips has some $1200.00 participants from more than a 100 countries and regions that includes russian banks and chinese subsidiaries of dodger back last year, sips processed transactions worth almost 13 trillion us dollars. now, chinese media says that was a 75 percent increase from the previous year. currently, sib, though,

still relies on swift for international communication process. financial ties with china could increase cut off from old trade pardons. moscow is forced to reorganize much of its economy and trade with a focus on beijing. it's been a months since the winter olympics opened in beijing with fireworks and chinese president deeds in ping waving proudly from the stands abandoned by most international leaders. she had only one prominent visitor, russia's flooded mir putin who certainly knew at the time that the relation between the 2 powerful nations would soon change. that's because russia needs china after the west test distance itself from moscow. russia might be optimistic last year. trade with china reached a record $147000000000.00. it's set to reach $250000000000.00 soon. that's 40 percent more than current trade volume between russia and the u.

currently, russia is china, 2nd biggest oil supplier providing over 15 percent of its imports. the country also covers 5 percent of china's demand for natural gas. meanwhile, the food trade has been growing fast. in 2019 china allowed the import of soybeans from russia last year. it added beef to the import list, and just last week, wheat, china is also a huge buyer of timber from rush us, far east, with imports worth over 4000000000 dollars last year. asked for trade in the other direction. china sells machinery, mobile phones, cars and consumer products to russia with exports up 34 percent last year. china is also rush us largest foreign investor having issued at least $125000000000.00 worth of loans for infrastructure projects that are largely tied to china's belt and road initiative. as russia counts on china as its new key trade partner,

aging might show some hesitance, though wary of trouble with its western partners. should it run afoul or sanctions? for more let's cross over to taipei and d. w corresponded, so song hands. so how was china viewing what seems to be quite remarkable? ukrainian resistance against the russian invasion china still refused to call it a russian invasion, but rather a conflict between russia and ukraine. it urges the ukrainian side to assume the corresponding international responsibility and does not condemn russia at all. but after the call between chinese and ukrainian foreign minister earlier china think know that it was ready to play the role of a peacemaker. beijing said that ukraine looks forward to china, play a role in real life in a cease fire. at the same time when russia called china, it's friend, the related chinese twitter way, ball by russian state media boot nick, what the lead?

what deleted shortly afterwards, many chinese citizens say that we're not friends, don't pull china down like this, don't want to be friends with the aggressor. and others worried that such statements would be detrimental to the safety of chinese people in ukraine. now, on the economic front, china has vowed to strengthen ties with russia. what does that look like? now that western sanctions against moscow are starting to bite? well, we have seen chinese economic and financial support for russia, even though china does not directly support russia, expansionism, to any degree, beating strongly feels the necessity to maintain and boost to strategic partnership with moscow. china has been supplying ada tronics machinery and other manufacture good to russia in exchange for food and energy. on the 1st day of russia attack on u krench, and i thought only announced that it would allow the import of wheat throughout the territory of russia, which was partly band due to contamination problems. but we're not sure if china

will further help russia because it is in a difficult position and needs to strike a delicate balance with the chinese government more than willing to avoid any action that could easily expose china to further sanctions. it. so speaking of a possible partnership, now that a number of russian banks have been kicked out of the international payment system, swift are china and russia going to link both of the national financial transactions systems. each one has been putting up despite the fact that russia and china have strengthened the dollarization of local currency settlement in recent years. russia and china still rely heavily our switch for cross borders, settlement payments in 2017 commercial bank of china lodge. it's roman b, could clear him bank businesses in moscow. a number of russian banks have joined it and russian, chinese gas, oil, and goal transactions can be settled in room in b. but even if the settlement and payment information of china and russia can be

exchanged within the country by passing to wit, the cross border exchange can only be done through swift. besides, in order to promote the international i zation of ram in b, it is difficult for china to act independently of whipped. it is very complicated issue and we don't see how it can ease rush us pressure in the short term. d, w correspondent. so song here in taipei, so thank you. fox. like an end b m w are the most recent examples. the 2 car makers just announced they're temporarily halting production in some plans as key components are missing, rushes, invasion of ukraine on the west sanctions against moscow are disrupting supply chains, which are yet to recover from the corona virus pandemic. the closure of russian aerospace because of the invasion is set to cause massive

restrictions on international air, cargo and air traffic, cargo flights and passenger aircraft to asia have to take a different route of tons of cargo, says that flights from central europe to japan, korea, and china can take up to several hours longer and can carry up to 20 percent less freight. this will make flights and freight more expensive. shipping is also feeling the consequences of the war and the sanctions against russia. the world's largest container shipping company maersk, suspended most container deliveries to and from the country. freight traffic with russia is at a standstill. factories in europe's biggest economy, germany are worried about bottlenecks, especially in raw materials and intermediate products and possible price increases . german carmakers have around 50 suppliers and manufacturing sites in russia and ukraine. it's still too early to predict what impact the war will have. russia and

ukraine are among the largest exporters of wheat accounting for about one 3rd of global exports. but these exports are now at risk, and this is hitting poor countries in africa and latin america in particular, which are dependent on cheap imports. and now to some of the other global business stories making headlines, apple ford and exxon mobil had joined the rank of companies who called business in russia. apple said it was stopped. the sale of i phones and other products in the country for the next on will suspend operations. germany. siemens now says it will also suspend business in russia. russia's biggest lender spare bank is exiting the european market as western sanctions tightened following the russian, warren ukraine. the announcement came just hours after the european central bank ordered the closure of spare banks, european arm following a run on deposits. home rental company air

b and b says it'll offer free temporary housing for up 210100000 refugees fleeing ukraine. c o brian jesse said letters to send letters to leaders of poland, romania, germany, and hungary offering help to house the people. at least 300000 ukrainian refugees have entered the u. since the russian invasion began a firm that transcript occurrence, the transaction says more than $33000000.00 in the digital currency has been donated to ukraine's government and non governmental organizations based in the country. ukraine has received the donations mostly in the form of bitcoin and ether him. after making an appeal on twitter last week after it was invaded by russia. and as corporations around the world review their business activities and russia, big trade gatherings are taking a stand as well. the mobile world congress in barcelona,

as the world's biggest mobile phone show. and it's taking place this week. it has limited russian companies, access to the event at the russian stand, there is little sign of the company as country of origin, even the name russia has been taped over. apparently, at the request of the congress's organizers, most of the participants here are software companies, like a vsoft from moscow. they say, sanctions are hitting the wrong targets. of course, i would be the reason it's not connected was, it's all in more than one world. so we shouldn't decide about something not connected together. financial cyber security uses government. so if you from your one company, worried about sanctions, is moscow based? true cons. it provides online conference software worldwide. i think is

the could be significant company after t w's camera was turned off, he said he'd likely have to split the company into $21.00 in russia, and one in the e. u. the russian war against ukraine and sanctions are overshadowing the mobile world congress at a time when participants had hoped to get back to business as usual, after 2 years of the pandemic. what's in store next? for the business world? every industry is going to have some kind of him. i mean, clearly we already had a geo political decide in the world. and this will further enhance that the only company from ukraine slated to participate this year. a virtual reality studio from key of wasn't able to attend because of the war you've been watching dw business before we go. a quick look at the latest

developments in russia's war against ukraine. russia is looking to use the chinese payment systems after it's expelled, its banks were expelled from swift. it's facing increasing economic isolation as international sanctions. take the fact that social thanks with people in trucks injured one, trying to flee the city center. more and more refugees are being turned away. families played on the syrian for the credit on this, we loaded demonstrate people's lean extreme around getting $200.00 people around the world. more than 300000000 people are seeking refuge. yes. why?

because no one should have to flee. make up your own mind. d. w. made for mines. the louisa ny bower is a climate activist and leading figure in the fridays for future movement in germany and globally. she joined us today on the w. miss no bower. thank you for being with us. you've said recently that europe's dependence on fossil fuels is the root cause of the war in ukraine, and that europe should respond by radically building up renewable energy. well good, do you think that could do now in the short term when i, when i say that, i'm just looking at the situation right now together with economist with diplomats, which was experts everywhere who see that the dependency on ration fossil fuse is

one of the of the, of the many things that make protein so powerful right now. and this isn't anything of this, this understanding of, of the roots of pollutants. power hasn't to do anything with the concrete action that need to be taken. now li, ukrainian authority, right now, they need support from all over europe. they need what is needed to protect them, and that is very clear. yet we're looking at the big picture. we, he's important to, to be honest about who is financing pat of the text. and that is germany, for instance, you know, who is, you know, getting half of its energy from putin. we've heard germany's finance minister christianity and now who is not necessarily one of fridays for future as best pals say that renewable energy is the energy of freedom. do you think german.