asked flowing through ukraine's pipeline. i'm chelsea, delaney and berlin, welcome to the shell. u. s. president joe biden has announced a ban on importing russian oil and retaliation for the invasion of ukraine. biden's move comes as the united states is already struggling with rising fuel prices and inflation. us imports only a small percentage of its oil from russia, but the ban will likely push oil prices even higher. but the price of brent crude reaching a 14 year high this week now for more unless let's bring in, james sweeney, our financial correspondent and new york. james, how big of a blow is that to russia, to lose the u. s. as a customer for its oil and gas, this is a big blow to russia by losing the u. s. as an energy comes customer, an injury consumer, the u. s. is the global leader, an oil consumption in this administration, the binding ministration, agree to buy a ton of oil for russia, you know, mix it up a bit not get everything from oven. and the russians were enjoying the funds,

allocating it, whichever way they felt fit. and now that money's gone, that's hundreds of millions of dollars. no more. and that's definitely got us thing . and if you're wondering how do you know it's things rush already issued? a warning last week that taking such an action would end up with $300.00 a barrel per for oil in the near future. just to talk and speculation alone led the way for russia to kind of issue that warning. for speaking of stinging, obviously this is going to have consumers very hard and the us now well, when it comes to the american public. uh, they're not too pleased right now. right now in a mobiles gas station outside beverly hills, fuel. that's $725.00 a gallon and the national average price per gallon is at its highest ever in u. s. history. and this all before biden's announcement today. so people were angry enough already and like i said to many people this afternoon, wait until this weekend when drivers need to fill up as they go under weekend retreats. now, morally speaking, a lot of americans live in support of the oil sanctions to not give russia more funding. but the issue here is that the,

by the administration this afternoon has not given the u. s. a proper backup plan except to just deal with the pain in the short term. and that's not going over civil with many americans on wall street today. biden says he'll continue to tap a strategic reserves. it's done not much so far to ease prices. and rather than make the call to open domestic production and get fuel pumping again in the medium term, it seems like you, us will soon have to turn to other nations like iran saudi arabia and venezuela nations. that the u. s. try to isolate a, so from, for possibly replacing that missing russian oil output. and just briefly, if you can, what do you make of the market reaction over the past couple of days? a lot of turmoil on markets is this investor saying we're heading for a global recession. um, no one wants to bring the word recession into play a lease just yet, because what's really close in the market slide again is uncertainty of center numerous times uncertainty. the markets, worst enemy, no one knows when food prices will go down and oil exports will be replaced. there's a lot of uncertainties here, one hour the market search because they're talking with venezuela,

the next hour markets tank, because saudi arabia says that they don't want to deal with the u. s. whatsoever. again, we don't know the definite market direction, uncertainties everywhere. the last 2 days have been incredible, right? james sweeney and new york. thanks so much. you're welcome. now sir, the e u countries are more reluctant to cut off from russian energy imports. russell's on tuesday laid out its plans for reduced to drastically reduced russian energy use by year end and given up entirely by 2030. the getting there won't be easy. russia is now openly threatening to cut off gas supplies to europe completely. this would lead to enormous bottlenecks for the entire e. you gas is primarily used to heat homes in ovens in production processes in power plants to produce electricity. a sudden supply stop would push up energy prices dramatically. prices for oil and gas have already risen steeply. consumers

are feeling the pressure at the petro pumps and on their gas bills. before the russian attack, a megawatt hour of gas cost, $69.00 euro's already more expensive than consumers were used to. since then, in just 2 weeks, the price of the e ex energy exchange has rocked to a record high of 335 euros, and the outlook is uncertain. no one knows whether russia will make good on its threat and turn off the tap completely. the e u now wants to completely become independent of russia. re power e u is the name of its new strategy at its core, diversifying energy suppliers, and drawing more from renewable sources like solar and bio gas. renewables give us the freedom to choose an energy source that is clean, cheap, reliable, and ours. and instead of continuing to fund fossil fuel impulse and fund russian

oligarchs, renewables create new jobs here in europe. the u wants to replace 2 thirds of russian gas imports by the end of the year and ambitious target. this will end our over dependency and give us much needed room to maneuver 2 thirds by the end of this year. it's hard, bloody hard, but it's possible if we're willing to go further and faster than we've done before . the you already has plans for its energy transition, but the war and ukraine has officials startled, forcing them to make the switch far faster than previously thought possible. now, cutting off the european union from russian gas would also impact ukraine. the country has long been a key transport route for russian gas into the you with multiple pipelines, criss crossing ukraine. it's an important source of income for the country netting

over a $1000000000.00 and transit fees each year. even during the current conflict, ukraine is still transporting russian gas and to europe. and one of the people helping to keep the gas flowing is olga bell. cova, director of public affairs at the gas transmission system operator of ukraine. okay, thanks so much for joining us. i want to start with asking how are you personally in your team coping during these extraordinarily difficult times? well, thank you. chelsea. i have to say that all of us were, we are just so you know, we try to disregard our personal situation and we try to, as long as we are safe, physically, we try to focus on our jobs. that's the key recipe for survival in this very difficult times. i can tell you that the management of the company and key were occurs include in those who work on the line next to the compressed stations. i

really committed to continue working until the moment it is not safe for them physically. so the you is under a lot of pressure right now to ban russian gas and oil imports. do you think that's the right move for brussels and you nations? well, i think the dependence on the russian gas has been, you know, on the minds of many analysts and experts for many, many years. but right now the pipeline system of ukraine is a guest to you. so ukraine. but this is the one of the ways to protect your grain against more aggression. if you look at what is happening right now, you will see that there are some destroying minutes, may it to the region, the pipeline, but not to those which are transporting gas from russia to ukraine. we assume that

for as long as you will need this route to supply russian gas, we are more protected as a country as a company and as region. that's why i actually think there is some logic into diminishing their importance of also to be it not a stream one or well, no student who is of the picture for now, but no assume why i think it would be why i story. the use of that pipeline. so europe will shows that if the band more, when you cranium pipeline and the route and then the russians will restrain their army forces to break our system. but in general, you think a full scale they on of rush and gas flows from through your ukraine into europe would be the wrong move. no, i'm not saying that i seeing that we need to,

we need to leave ukrainian root as the key road to supply ration gas to europe because that's one of the ways to protect my country. i'm not sure where you would up can ban all the energy sources common from russia, but it's a find a way and they will keep the ukrainian and i think that's the right way to proceed . what more can you do to support ukraine now? well 1st of all i, i'd like to say that as a citizen, i'm better grateful to all the right steps, some clothes and sanctions which were done in the last 10 days. ukrainian, see, we appreciate it and we have better grateful at the very same time. as you mentioned, decrease in dependence on the ration of energy sources would be important for find in the way how to restrain and everybody who is on the side or put in kind

of a coalition and making sure that they stop the war. that would, it would, would be important personal sanctions, companies, sanctions, financial assumptions. this is a way to proceed. and of course, everybody in ukraine right now, especially women. we are all concerned about our, our skype being to you open for ration, you know, military flights to warm unions. you cannot imagine how difficult it is for 4 people in ukraine right now. being in and out from say a shelters and constantly being scared of being bombed by russian whites that us august alcove. i was with a gas transmission system operator of ukraine. thank you so much for joining us. thank you. before we go remind her of our top story,

u. s. president joe biden has announced that they on, on importing russian oil and retaliation for the invasion of ukraine. by this move comes as the u. s. is already struggling with rising fuel prices and inflation. and that's all for me and the business team here in berlin for more from us, check out our website, w dot com slash business. until next time. take care ah, [000:00:00;00]

with you to the point in strong opinions with clear positions, international perspectives, the humanitarian crisis in new crazy, intensifying food, eating rules are and medicines rolling desperately short supply. still russian forces continue that pounding of civilian targets. how much pain will the people of

ukraine face find out to the point? the point a, d, w. a with russia has undermined arrangements many bearing for the worse talk to more

with abandon importing the oil with not just another day with so much is happening all at once. we take time to understand this is the day in depth look at current news, events analyzed by experts and critical thinkers. not just another new show. this is the weekdays. on d,

w ah news . this is the w news life from birth in civilians. desperate to leave bad and ukraine may have another chance brush and state media reports and you see spy will go into effect in several areas. the key of accuses, rush is forces of attack in previous escapes. those who fled cities under siege here, the worst brothers who stayed behind the people there and i have been left for debt

. they're hiding in basement with them. i can't even think about it. hundreds of