crucial interest payment of a $117000000.00 us dollars. it was unclear whether moscow could meet its international debt obligations after western sanctions over the war. hubble this financial dealings, central bank can't access it's foreign dollar reserves and had said it might pay a roubles which would have been accepted by creditors. another dollar denominated payment is due in $2.00 weeks. this time for $2000000000.00, major ratings agencies have downgraded rushes credit writing on my colleague, cassandra. so it is here to run us through an important part of russia's invasion of ukraine. whether or not you can actually afford this war. tell us more about the financials behind all of this, right? the stakes here been are huge. you've outlined some of them. but the way that the payment schedule works. this is one of the 1st big task tests that moscow has about whether it can meet its international debt obligations under western sanctions.

remember since the start of the war, just last month when russia invaded ukraine, western allies have imposed a barrage of economic penalties on moscow that includes limiting its gold and foreign currency reserves. and which kind of global banking systems that can access that like swift. so now these sanctions have been impose, they've been adding up, we had the stress test. and because of these penalties, russia has limited access and it would have been huge if it wasn't able to meet these debt obligations. it would have actually been the 1st time said the bolshevik revolution in 1918 that it couldn't meet foreign currency debt obligation. so that would have been huge. and the ripple effects this time would have been even bigger . tell me a little bit about the uncertainty here. we weren't quite sure if they manage to avoid default or not. exactly. so russia, using citibank in london, there's a few intermediaries to get the money to london, to facilitate this $170000000.00 interest payment. those were to,

to euro bonds. and those are due by the end of business on wednesday. but there's a 30 day grace period to confirm that everything's gone through. again, this would have been the 1st financial obligation that russia had to meet since the evasion of ukraine. russia's finance minister says it asked city bank to make the payment city bank when confirm on thursday, if the money has actually gone through. there's been some reporting from reuters that they've confirmed with some of the creditors that the money has gone through. so it's a little bit murky at this time. but what's really interesting to me is we're now seeing the russian government spin machine go to work. they're saying, you know, we have the cash to make this happen. but it's western sanctions that are not allowing us to meet our obligations. it would have made this and rubles like you, like you said. and we do have more payments coming up, the big one, the $2000000000.01. and then i went on monday just 3 days just after the weekend for $66000000.00. that's coming due. ok, well the jettas are definitely being felt on both sides. i think sandra, thank you very much. well, there are no sanctions coming from turkey. however,

there's pressure on president bridge of tie a better one as head of a nato country. he has to live up to the policies of the west military alliance. but he doesn't want to alienate his russian counterpart. vladimir putin. last month russian warship sailed through the dark elves and bus for a straits into the black sea. air one has since stopped such passages. economically, there's a loaded stay for turkey. it's done most famous. i asked sophia, one of the cities most important tourist destinations. last year, 4 and a half 1000000 russians visit a turkey more than from any other country. but now with the russian warren ukraine, bringing sanctions against russia. turkish hotel and restaurant owners expect for tourists and revenues to drop significantly. the russians keep us alive here in istanbul, and at the again see when they're not coming. we're off worse. it's

a fact that fewer russians will come and that will be tough. on turkey, it's economy already in distress. economists are worried that the value of the rubel has dropped. so for russians, vacationing abroad will seem expensive because foreign currency deals take more roubles. it will cost them more, and that's why many russians will no longer travel to go. religion in almost getting to your russia is one of the most important markets for turkish construction companies with deals worth billions. turkey also exports fruit to russia, peppers, citrus, and lots more. president ad one is trying to uphold trade. despite the current crisis, will millennial, it could become very difficult to export agricultural goods because russia won't be able to afford us much any more. there might be import bands for some products that will have consequence on turkeys export volumes. in tonight, j rushes,

one ukraine affects people everywhere, across asia and europe, with the full extent of the consequences, yet unknown. first, the pandemic now the war in ukraine. the world economy has been shaken up including the production of semiconductors, which are important for a number of industries, from car and electronics manufacturers to medical technology. many companies fear having to shut down production again if make is can't get their hands on those raw materials from russia. and ukraine. sales in the computer chip industry have increased enormously in recent years. last year with supply chains in crisis due to the pandemic chip production to the reco turnover of $584000000000.00 and have a look at the forecast for this year. this is quite interesting. $630000000000.00 and that despite the delivery difficulties from china, russia and ukraine. let's talk about that with vincent. stomach of the kill

institute for the world economy. is that growth forecast? realistic in, in, in your opinion? well, we started out the year with a very positive outlook for the global economy, as economy is all over the world recovered from the global pandemic. that gave also the computer chip industry abuse boost. so a couple of weeks ago i would have said it is realistic. on the other hand, now we're pacing great challenges from the ukraine crisis that take, for example, me on noble gas that is highly purified and processed in ukraine. there's actually essential to the manufacturing computer chips and it is just quite uncertain how many sto, how much stock piles the large computer chip factories, for example. and i want to have to continue producing computer chips. and the thing is, we're just coming on the back of that recovery from the coven pandemic. the world economy has in quite recovered yet. then we've got this war in ukraine. it's

a whole lot of hurdles all coming at once. isn't it? indeed that actually quite a lot of challenges there that are facing the global supply chain at the moment. take china, for example, china is actually facing and you can waive in addition to the you will be recovered strategy. there's still running there. actually, there is a danger that will lead to nother mass locked down. you know, keep in mind that another great portion of the knee on production is actually located in china. on the other side of the world, europe is actually already facing very high energy prices on the back of uncertainty and sanctions against russia. these worries would just intensify even further. if there was a reduction of imports of fossil fuels from russia to, to the best in europe. this would push our prices and would put a great pressure on supply chains. and bits of whereas, all of this leading is the word recession, something that's on your mind. the institute for the world economy has already

lowered its, quote fac forecasts for germany, from 4 to 2 point one percent. and that does not include an entire embargo of all coal and natural gas from russia. it is to be believed that if we stopped importing these net, fossil fuels all together, this could deal another hits of approximately 3 percent of g d p to the germany con me. then we actually, you would in theory, touch negative growth again, decline. do you think that's going to happen? do you think europe is going to cut itself off from russian oil and gas? not at the moment. i believe if you listen to minister havoc. i believe that the government has and plays a step wise reduction of natural gas. i think that is, that is quite reasonable that the step by step reduce the dependents on russian. oil and gas, i think stopping from today to tomorrow would be to offer

a cost to the german economy. it is important. don't get me wrong. it is important to, to stop importing fossil fuels from russia as soon as possible. but we cannot hit our call me more than rush us. it's a, it's a sad situation. we have to look at this realistically, in so many cases, the economics trump, the politics, vincent stammer from the kill institute for the world economy. thank you very much for joining us here on the w. let's take a look at some of the other business stories making use today. porsha says last year was the most successful in its history. the germans sports comp make a book to profit of more than 5000000000 euros. outlook, however, is mixed as the company worries about supply chain issues caused by the war last week. it had to hold some production because it didn't have the parts british piano varies, has sparked outrage after the 2nd 800 stuff with plans to replace them with cheaper

agency workers. some refused to leave their ships in protest and more forcibly removed. piano says it was a tough decision, but it would not be a viable business without the changes. the company lost almost 120000000 euros last year. e commerce giant amazon has closed the deal for its 8 and a half $1000000000.00 acquisition of m. g m. one of the oldest hollywood studios, and the owner of the james bond franchise. amazon will now get access to m g m library with more than 4000 movies and 17000 episodes of tv content. argentina was still struggling under massive debts and rising prices. are the clearest symptoms, is the price of food? for some, the situation is so bad they are considering leaving the country. when he has eva test this report. o argent indians are increasingly paying more for vegetables, the markets, and when the sayers prices are rising every day last year,

the inflation rate was at a staggering 50 percent. no more than a weight is hardly risen in years. but food is becoming more expensive every day. hub in simple of eta is also concerned. he works in a factory, but can baily scrape a living on his income. though, so it us. i work 12 hours a day. my salary isn't enough. my gums are, i can go on like this. non i thought any really south america, 2nd largest economy is in an economic crisis with a bloated, bureaucracy, low productivity, and a mountain of debt. that is constantly growing. man, the merit will misty low. yes, i just want to live a half decent life. but how can that happen if half my income goes to rent them? market traders are also feeling the pain. while the country is known as the land of

cattle, argentinians are eating less, meet him there, people stop by on me, look at and go on without buying anything. they're eating less meat. there are many, many argentinians are frustrated. they can't see an end to the ongoing economic crisis. that's all for me and the business steam here. berlin, i bid zalinski again say ah, with a

few tens wor ukraine is also shaking up the world economy. the heavy sanctions are not only putting russia under pressure, europe wants to free itself from its energy dependency. china fios for its consumer kids. and in the poorest countries, new families are in a business, especially in 30 minutes on d. w. o . o. oh, what people have to say matters to us. mm. mm. that's why we listen to their stories. reporter every weekend on

d w. 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 guy? 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 it behaved exactly like government and the point inspection with life the great documentary series destruction of a nation. this week on

d w. ah ah, this is data news line from a russian missiles hit the veil in western new crate and destroying a military aircraft repair facility near the cities international air force will bring the lightest my correspondence on the ground. also on the program, china's presidency. shame ping tells his u. s. counterpart, joe biden, that conflicts between states are in no one's interests. as the 2 leaders discuss the will by phone and answering ukraine's call for foreign fighters will hear from

one of reported 1000 german.