government has imposed an indefinite gov. you. ah, but the that's all for now. coming up, business use oil prices, the higher they could get even higher. as leading economies consider batting russian oil. that's on business. next we'll have more headlines coming up next hour . void. i've been puzzling with with nitro spectacle in an improved world. the meeting of the loom whale sharks of the remote island of saint

hulu is a testament to the quality of the waters. one of the many success stories from a bastion of biodiversity starts may 20th on d, w. ah, ah, oil prices are high and could get higher. the world's top economies agreed to ban crude from russia. the move could hit moscow square and it's war chest, but it's likely to push up already high petrol and grocery prices. also on the show, it was one of the biggest initial stock offerings in years. now electric car maker river is seeing its fortunes fall as it struggles with supply issues. ah,

and the hyperinflation is played. venezuela finally eases a bit. we'll take a look at where the country's economy currently stands. i'm stephen beardsley, in berlin, welcome to the show. she 7 nations have committed to phasing out russian oil in a statement issued sunday, the countries including the u. s. germany and britain did not mention exactly how they plan to do so. in the u efforts who agree on a block y ban have already seen delays on the objections of several member countries, which say they fear the move could backfire causing an economic shock. but rapid embargo, russian oil is also expected to send up the price of crude oil at a time, an ordinary families are already feeling the pinch on the price of commuting groceries and other essentials are hitting consumers hard. we asked berliners what they make of the price at the pumps. on the hood, what can you say about it with the prices are crazy all on it, and i don't believe that this just has to do with to warn you,

crane or something like that. they're just trying to make money, said that on the get my i it's just crazy. there's never been anything like this before. and i've been in germany for 30 years and have never pay prices like this $5.00 is that it's really, it's really extreme offer. it's not so bad for me because i drive a small scooter out or nothing. i mean, but i basically just leave my car at home. i bought my scooter extra because of this to get around the city, like we did, we started out of it was the bent vs with pleasant. old obviously don't want to lower the gas prices and they should lower the value added tax listen to. so that's what i think though this is how can a normal person afford to drive a car? it's becoming a luxury all to fun with books is i'm joined now by claudia comfort. she research as energy and climate policy at the german institute for economic research in berlin. a. claudia prices at the pump, our already hi, how much worse can it get with an oil embargo? well, we don't know, because right now we are in

a very severe energy crisis because of the russian war and we don't know what's happening. but this of course, a lot of uncertainty and the market that is enough oil on the international market . but a lot of expectations speculations, which drives, especially the oil price high. and also the demand is quite high still. so we don't know how far it can go, but right now it's quite high. do we have any understanding, economically speaking, how much pain a normal consumer can take when it comes to prices of gasoline? prices of perhaps, oil products, plastic things like that. well, what we see from the economic scenarios is that the inflation is already increasing . so the prices of all goods are already increasing, that of course, reduces the income as other people have to spend more on the income side to, to, to get all the, the products they need. and this is for sure also for the,

for the total economy. and hopefully we will get solutions out of this, not only by helping low income households, but also by reducing the demand of oil and fossil fuel in general by doing much more to save energy. and also to do much more to increase a shelf renewable energy the, even here in berlin, there could be supply shortages. there are a couple of key refineries in eastern germany that are under discussion right now for what their future is going to be. if there's an oil embargo, can this be managed in such a way that the public doesn't feel a lot of these issues, including the supply shortages if they took place? what yeah, i mean there, there are preparations also from the ministry and a lot of government institutions have already prepared because right now it's only one refinery left. that is, refinery feed. well,

12 percent of the products the to the market are coming from. and this is still in the ownership of austin. yes. so a russian company. so in case they should not deliver that amount of products of men or products and we could get also substitutes and this is manageable and there are a lot of preparation. so i don't think we should get fear of such kind of shortages, but we have to prepare at the same time. is it fair to say this will be a tight rope walk for the government between inflicting the right amount of pain on russia and making sure the consumers are hit too hard? is that a fair assessment that it's not going to be very straightforward, but what could be difficult? of course, it's very, very difficult for all policy makers and decision makers these days because of the one hand we can, we need to get rid of russian fossil fuel. on the other hand, we don't want to get the oil prices and fossil fuel prices to such kind of high

level because then the consumers and the whole economy is affected negatively. but on the other head, we cannot go with russia further as we did in the past. so we need to get solutions . and that is to get fossil energy from all different kinds of other nations than russia, but also to save more energy and to increase said the share of renewable energy or quality comfort with germany institute for economic research in berlin. thank you very much. thank you. let's go now to some of the other global business stories making headlines. china saw export growth in april, 4th was lowest level in almost 2 years. exports grew just under 4 percent year of year. that's down from almost 15 percent in march. the newly released figure is the latest to show the effect of china's harsh city wide lock downs. intended to curb a spread of coven 19 with a knock on effect, industrial production and international trade. dating at maker match group is

taking google's parent company in court. it says the suit as a last ditch effort to prevent alphabet from removing its dating apps from the app store. alphabet threatened to booth the likes of tender ant. okay, cupid. after match group refused to share the required 30 per cent of an ap sales. but in the u. s. doctor was re continued to slide among the days losers riven automotive. the electric car maker slumping nearly 21 percent in monday. trading sell off came after restrictions expired, preventing some major investors from selling stocks after the company went public last year. afford a sold a large portion of its shares and riven. today the company has lost more than 3 quarters of its share price. or else could our financial correspondent james sweeney in new york. for more. a james or river was a massive i. p. o. last year, one of the biggest years in fact, and now it's, it's suffering this course right now. what's going on?

well if you're asking what happened, it's more like what didn't happen because at the going public out during its valuation of $90000000000.00 less november shares, they'd come crashing down to earth. them more than 77 percent. so for this year, and it's due to a combination of factors, look, here's your take away points, ribbons gains. they've come from speculation, speculative growth, and then in early march, the truth finally came out. the company reported a near $5000000000.00 loss in 2021 and $1.00 that supply chain issues with lower production this year. and following that release today, more than companies, i feel like a period coming to an end. and it gave some early investors a chance to get out while they still could read early investors like ford, pulling out 8000000 shares. cheapy morgan looking to sell about 1350000000 shares on behalf of an unnamed investor and speaking afford, why would for keep its money in really in a company that it could not even reach an agreement with last year to create a vehicle. and for they went their own way and now it's already delivering, it's f $150.00 lightning pickup, which is a direct competitor really ins,

pickup truck, right. so ford is let the production expectations, and river the story has been the same, expect only 25000. this year we're doing okay. we could be better. hang in there, we'll get there. but it's going to take a while. no positivity, lackluster results. that's what happened. that's what happened. veridian. james, you also mentioned the supply issues as to what extent are they affecting evie producers? across the board, well, i'd say the problem of supply issues or across the board, but it's really heavy for ribbon because little use for it as an example. the f 150 lightening, has so much demand. it's back ordered for the year. it can't be bought, production has been doubled by 150000 trucks next year. and this is also amid the same high inflation of supply chain concerns that really and blame for poor results and 2122 people in the street. they're talking about mercedes, the u. s. tesla cyber truck, the ford mustang, the b m w. you know what people are not talking about? i haven't once heard people say, yeah, that really and i can't wait to get one. that's the coolest car ever. and that's an issue that they brought upon themselves. all right,

james sweeney in new york. thank you very much. go to latin american now, venezuela is finally seeing reprieve from the hyperinflation of recent years. the growing use of u. s. dollars in transactions there has helped still the countries currency is hardly back to health. neither is the economy. sales have been improving at francisco, valentino fruit and juice stand in caracas. aid hears a viper inflation r. behind. now he sells more or especially in dollars when already that us. yeah. well now thank god there has been an improvement for me in terms of sales. people are a little more comfortable with a dollar level before they were afraid to consume or spend because with me and i thought at the stalled run by gustavo marchina sales of holds increased customers, campaign dollars, believers or electronically fred. now things are very even to give you an average. they pay me hoffman believers in health in dollars. venezuela was able to curb my

very inflation. but the ball of are the official currency, is so devalued that it is only enough to pay for candy or public transportation. the maximum that can be withdrawn from banks is 30 boulevards per day, about $5.00. for economists like ronald bozza. then as well as an official dollarization, it's not the only reason why prices have stopped rising to get don't have to see the dollar is useful. see the boulevard is new so both can be used as means of payment or said they are not the cause of the reduction of hyperinflation, nor of the apparent improvement of the economy. that only focus is on the commercial sector or tourism, but does not focus on the provision of l services or public education. for example, $2.00 enter mostly through the frontier or come from savings and remittances. but

salaries are still paid in bold of ours that generates demands for wage increases and protests. a symptom that g economic rises in venezuela still hasn't passed that's it for me in the dw business, if you can find out more about these and other stories at our website, d, w dot com slash business, check us out on youtube as well under the deed of the news channel scene. beardsley, thanks for watching. ah, no sir. who? yost hundreds in the wall. a pianist with turned piano and rescued music. ah, a painter in search of the lights of his home. man. ah, wor, arms out. living on march 20.

next on d. w a pulse ah, the beginning of the story that moves us and takes us along for the ride. it's all about to perspective. culture information this is either you news and ah, g w. leave minds? oh, i think is everything challenging, fair, some are big amazon. so much different culture between here and there. so challenging for everything. ah,

and to some of this i think it was worth it for me to come to germany. i shut my, got my license to work as a swimming instructor. and so now i teach children who don't to swim extra. what's your story? take part, share it on info, migrant, dot net. ah, i must keep what keeps his strength to fight. i'm not hatred. schiffer. bullshit to worship. my work has changed completely because now as since the fear happened and it won't let me go where people go when these war against through plan start, they that it actually is start. it started online before of the physical at that.