tv Business - News Deutsche Welle March 25, 2022 11:15am-11:31am CET
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and that's in use round that business news is up next with a closer look at the us pledge to boost shipments of natural gas to the european union. i'm minute clips mckennan above the whole team. thanks so much for watching d. w youth . ah, what people have to say matters to us. mm. that's why we listen to their stories reporter every weekend on d w. ah
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ah, ah, american gas to the rescue. the u. s. pledges to do shipments of natural gas to the european union. but will it be enough to break the blocks reliance on russian energy? also coming up, india comes under fire for buying up russian oils for and by the wes, we'll take a look at how economic ties between moscow in delhi or molding and will tell you the story of 2 farmers forced to leave ukraine due to russia invasion. now in germany, they're sending donations and a to those left behind. welcome to the show and chelsea delaney and rely on the u.
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s. has agreed to rapidly boost shipments of liquefied natural gas or ellen g to europe this year. as part of efforts to wean the continent off russian fuel, the announcement came during president jo biden's visit to brussels for a host of meetings on russia. the americans will offer an additional 15000000000 cubic meters of l and g. by years and last year they ship 22000000 cubic meters to europe. you hopes to replace 2 thirds of russian gas imports by years, and germany is also racing to reduce its reliance on russian fossil fuels. the government reporting today it's made progress over the last month. the economy minister now says the country will be able to have it's oil imports from russia by summer. it expects to end to coal in it's co purchases altogether by the fall. and by year's end, it will import only 30 percent of its gas from russia compared to 55 percent before
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the war. now germany is going to need more natural gas, not just from the u. s, but also from suppliers. and the gulf region such as guitar, the country with enormous gas river reserve is but a controversial record on human rights guitar as a top producer of liquefied natural gas, or ellen gee seen as critical for germany weaning itself off russian imports. but the golf country is also well known for its stain. human rights record rights groups criticize the exploitation of guitars, 2000000 migrant workers. the deaths of thousands of workers over the past decade have gone ignored by authorities. modest labor reforms have reportedly stalled other reports point to restricted freedom of expression and the repression of women . as germany frantically searches for new trade partners should the country put
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human rights at the forefront of its trade relations. but even though the doors against the background of german history, it's a very important topic is that among everybody should think about this when buying products are constitution, says human dignity is inviolable. that also cancer, other countries from which we purchase products. linda gaten will be a productivity, different teeth. i definitely, i think, especially with globalization, which is increasing. we can't avoid the topic if i missed him on this. malcom. your distinguish one does is yeah, i think it's important, but it's difficult really. we went off by them, we can see that with how backs visit to the u. e. and the gulf states like choosing between the lesser of 2 evils, visors and personal quote already sodden. for berlin, finding reliable energy from reliable partners is now a problem with no easy solution. so far, pragmatism prevails. now,
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india has been reluctant to criticize russia and its invasion of ukraine. well, that has angered western allies like the u. s. export se india's position reflects historical economic ties between itself and russia. the defense industry and increasingly, the oil industry. india is the world's leading buyer of arms. until last year it accounted for 11 percent of total global arms imports. according to the stock home international peace research institute, supreme it's biggest supplier was russia. between 201720218 accounted for 46 percent of indian arms in ports. and in the previous 5 year period, russia accounted for more than 2 thirds of indian arms imports. india has been trying to reduce its dependence on russian arms and diversify suppliers. they get a bar, come on that quote, maybe hey, if you look at other countries that us in europe, bronx, britain, japan,
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the only dependent on the u. s. for their security. india is not dependent on the u . s. word security. india is certainly likes u. s. political support, but at the end of the day near depend on itself. so it is self interest which is driving immune policy. i don't think any ideology drives of george. she says moscow also supported india's foreign policy in the region before and after the co lapse of the soviet union. but that's not the only reason. self interest may be behind and you daily's choice to remain neutral on russia's war in ukraine. india in ports, 80 percent of its oil needs, and rising oil prices have already led to protests. so while other countries spurned russian oil, india is buying it so far. it has bought at least 13000000 barrels, according to bloomberg news. and without that, many takers of russian oil,
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india may very well benefit from lower prices. i asked our deli correspondent, cherry charo car to kay about western criticisms of india for buying russian crude at a discount is india on the wrong side of history as the u. s a sad well, it has not really registered a formal response to that very specific comment about buying a crew from russia, but of foreign affairs minister and good made the statement in parliament yesterday . and he said that in your stand on ukraine has been very consistent, india is consistently re i to reading that of law. still it is in violence need to end. and at the same time, india has been asserting that the global order is based on the un charter and respect for the territorial integrity of entity of all countries about oil. all that india has said is that it's of the competent of russian oil in india, in port basket is less than one percent. and it doesn't really matter much to the
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trade. but yes, there are reports that a 13000000 barrels of oil have been bought, and several indian companies have gone ahead and place those orders of. there are reports that russia is offering oil at a discount of 27 percent. and india is thinking about or planning to use. those are oil stocks for showing up. it's strategic or reserves. chelsea rush and india are also reportedly working on a routine rubel payment mechanism for that oil. how significant is that? well yeah, that's very significant. ok, that's and that's because of, since trade is continuing between india and russia, the payment systems need to be finalized several exporters in india as well as in russia. have said that this ruby rubel mechanism that existed years ago needs to be brought back, because
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a large number of russian banks have been cut off from the swift system. and that is impeding payments. now the tricky thing is that both the currencies need to be bagged to a 3rd currency so that some kind of exchange rate can be worked out in den exporters have been asking the reserve bank of india, which is in the central bank to work out this exchange rate so that their payment do not suffer some expense. also believe chelsea that this, that will be, we will treat is already going on because the government have been very a secretive about it that has not been got information from either science, but many believe that payments are already being made in rubles, to russia. yes, that's something the government as of now has only said the owners only said that several payment mechanisms are being looked at. that is a team in tremendous studio team that is looking into formulating a strategy and it will be announced soon. chelsea is that a signal that india might be looking to do a trade with russia and more than just oil.
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well, chelsea, that's a little bit hard to say because in any case, so apart from the arm street with russia, oil is the biggest competent of indo my russian trade. apart from that of india also by sunflower oil, which is a whose price is also have been going up in india. so if, if that is also offered in a discounted rate, india will be we will likely be tempted to continue doing that trade fertilizers that also something that india continues to buy from russia. so i think what india is looking at right now is to maintain this trade relationship and not really, it's not really planning to expand it further, but at least maintain the items that are being bought from russia. and if they're being offered at a discounted rate, that would be very good for the indian economy. that's what the government appears to be contemplating right now. chelsea that was d w's deli correspondent,
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charo cartucker talking there. now in other news, russian authorities say they will decide how to use where knows, plan and moscow by the end of next week after the car maker announced it was suspending operations. there were no. it's also assessing its options for its majority stake in rushes car. number one, car maker after of as the war is heavily weighing on europe's biggest economy. a closely watched economic barometer of the phone business. climate index fell sharply from february to march. experts had expected a smaller drop in competence. the manufacturing industry was hit especially hard, as was overall long term sentiment. sherman farmers are warning that the ukraine war could cause the price of right to double and push other food prices up. by as much as 40 percent, ukraine is one of the world's biggest wheat producers. you keep ukrainian products like flower, sunflower, oil, and apricots have been in short supply. now speaking of german farmers,
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the war new crane has driven an estimated 3700000 people out of the country. many who left are devoting themselves to helping those who remain and ukraine. here is the story of 2 farmers from germany who are doing just that, ought to do it all with them, which will him none to show it is a german farmer. will. hon was in your train. you actually are more to be kentucky and his business partner spent a decade in the country, growing wheat and corn before leaving due to the war. now back in germany, there organizing aid con voice with the help of ukrainian friends. but of nations come from ordinary germans the bones investment of where we are in western ukraine . the supply situation is pretty good. there's food. what we're bringing to ukraine now is going through friends and contacts into the war torn areas. their conditions are catastrophic. if kevin, mario polar encircled nobody, nothing there. so are people are driving straight into give voice to fall victim?
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do you like nike of the 2 farmers have left their machines and fields behind, as well as their local workers via the internet. they keep in touch with their 10 employees in ukraine, a few or at the front. others are trying to keep the farm going. this is video from last year's harvest. it was a good one. ah, the farm turned a profit. whether they'll even have a harvest this year. however, it is unsure the course of hogs of your on the, the question is whether we be able to get enough diesel fuel. if it was open in the system, it looks bad right now as we run out in the coming days to an hour. and of course we need to be able to plant the some as crops and keep turning to the winter was in a mini mallet. if we get a minimal amount of diesel with concentrate on what we've already cultivated and tried to bring in that harvest the antidote to billing as soon as it's safe to the
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to farmers planned to return to ukraine themselves. for we go, our reminder of our top story, us agree to rapidly those shipments of liquefied natural gas to europe this year as part of efforts to wind the block off rush and killed. that's all for me and the team here. and berlin, thanks so much for watching is the end of the pandemic in site. we show what it could look like. will return in the normal and we visit those who are finding it difficult. he sees his successes and you know, we're weekly coping 19, especially over 90 special next on d w o sentences of grades only to pick up on ebay relevant to go over and
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over. i mentioned home the fours, i'm them sold mostly seaman that we can them. would you like me about almost a valley that the last dragons in this world had called to home for 2 years, dw books on noon noon. the curly virus pandemic has taken a massive psychological toll on people worldwide, from recovering from serious infections to experiencing deaths and one's family, or circle of friends or even job loss and isolation. people are coping at least in part, in very different ways. on today's program we'll see how volunteers and places like india are looking after corona virus patients.
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