of agreed to a partial ban on russian oil. you council president shaw. michelle said the ban would immediately cover more than 2 thirds of oil imports from russia. hungry is one of the loudest. several countries resisting a complete band given its dependence on rush, annoyed. this is to w news, that's all we have for you for now, but up next we have business. stay tuned for that. and of course you always get the latest at our website, d, w dot com and follow us on twitter and instagram. matthew w. news. i'm way of with couple of more for you, the top, the, our stay tuned and thanks for watching aah with every day for us and for our planet with global ideas is on its way to bring you more conservation. how do we

make cities greener? how can we protect animals and their habitats? what to do with all our waste? we can make a difference by choosing reforestation over deforestation recycling over disposable smart new solutions overseas said in our ways or is truly unique. and we know that, that uniqueness is what allows us to live and survive. good ideas, the environmental c, global 3000 on d, w, and online a price is just key on rising german inflation at its highest in decades. that's as the cost of energy shows, no sign of letting up. we'll get expert insight into what can be done to rocketing

inflation and price was also hitting producers due to supply bottlenecks. it's one topic under the spotlight of the world's biggest industry trade fair in hanover, will take you for a visit and not in our back yard. we visit the tiny american town at saying know to electric truck maker river is that time again? d. w. business. welcome oil prices are on the rise once more. brent crude reach over a $120.00 for the 2nd time this year. the price of energy is part of the reason. everything costs so much right now. just take germany where the country is announced and inflation rate of close to 8 percent for may as compared to the same month last year. now that's the biggest jump in consumer prices. in nearly half a century, rapid rise could provoke the european central bank into raising interest rates, something that it's so far been reluctant to do this. get more in this now with monica schnitzer, who's a member of the german council of economic experts. thank you very much. for

joining us, monica, and can the german government or even the e. c. b, do any thing about this jump in inflation, or does it simply have to wait for opec to pump more oil or for the end of the war in ukraine? that is really a very different question to answer. that's what it like this these would be definitely can do something about it and should do something about it. it's their job to get control inflation. and for this, they win and they have already announced they will end the net to purchase program off on since july. and they have also announced that interest rate hikes, wind and funnel i would expect that they would do so in july. and this is really necessary because inflation expectations have to be nice and we're going to see more wage negotiations in the summer in the fall. and we really have to make sure

that this wage prices byron will not get started. that everybody's so much rain off . ok, but most of this inflation is tied up in energy prices. so isn't that easy basically targeting the wrong mechanism if it raises right? because after all, it can't do much about the the price of energy right now. yeah, absolutely. right. it's not the easy piece of control of the energy rises. this is something that will be affected by what is going on in your brain, whether that will be an embargo or this will effect the energy rises. so this is not under the control panel pcb. but a do will affect the inflation expectations what the easy be doesn't in that sense, they have to do something about it. other than that, what the government needs to make sure that there will be energy supplies. if it's not coming from russia,

then it has to come from somewhere else. and therefore everything that the government us to standardize this. so live a finding latan and they've spike putting pressure on turning to renewable energy say on this would have to step a nice the uncertainty because what at the moment is really driving up prices is the uncertainty. it's not that we have as dr. in energy deliveries at this moment, it's really this uncertainty that drives off prices. ok, i mean, it's been a long time since most rich nations have had to deal with rocketing inflation. can we look to the past and previous waves of inflation as a way to navigate this crisis? and if so, what lessons can we take from then to now? so really the last time we had inflation to that extent, that was in the seventy's. when we had this, i price inflation because of this cats in iowa deliveries from the old banks countries. and what then happened was indeed that the den wouldn't his banker was

in charge for german monetary policy that, that blindness bank could try to control it by racing interest rates and actually not locked out pretty was so, or inflation standardized then after sometime. ok, but it seems at this time around we might have to learn some new lessons as well along the way one cushion it said, thank you very much for your analysis on madison as not just energy costs that are driving a prices in germany. a shortage of materials in the countries manufacturing sector is also pushing up inflation. new data out on monday shows some 77 percent of companies here complained of bottleneck. some problems getting raw materials in may . that's according to the ego institute. port closures in china due to strict locked downs of made the situation even worse. supply chain headaches will be one of the key concerns at this years, hanover fair, which has returned after a pandemic hiatus. the world's biggest industrial conference comes at the time of

great uncertainty from manufacturers across the globe. the 2022, hanover fear is running at around half its pre pandemic capacity with some $2500.00 exhibitors instead of $5000.00 industrial transformation is the theme. the call to action businesses cannot afford to ignore, given the pandemic and soaring energy prices amid the war in ukraine. and while companies with sustainable energy solutions may benefit from renewed focus on maternity of energy, they also have their own challenges. but it's not a talk with one of the biggest challenges is taking people with us along this transformation to move on to offer new ideas. for example, in public transportation for us to really offer alternatives and not just talk about them. there's been more than just talk lately. decisions are being made faster than ever before. in may brussels announce it would invest up to

300000000000 euros to help the e, you become independent of russian fossil fuels. and in germany, the readiness of policy makers to help businesses response swiftly to ongoing challenges has also increased in crisis situations. we usually see that our mutual interest and readiness to talk on think about solutions is bigger than in maybe more regular normal times. so right now, jason berry brought an open readiness on both sides to talk to day policy makers are increasingly redrawing the framework for companies to do business. it's happening at a rapid pace. still, companies have their work cut out. well, i think export orientated companies have to rethink the strategy of some find a solution by doing changing nothing because they're not active in any countries

that are high risk. other sir, start to invest also in production and research in certain regions to become independent and will have a complete different value change. the value chains of a global economy are being redrawn rapidly amid significant macroeconomic and geopolitical challenges. d, w. 's, japan dodge and bellow centers that report from hanover where he told us the pandemic still loomed large. they're far fewer companies from china this year. more than 1000 chinese exhibitors couldn't make it because of a club. it pandemic and the country 0 climate strategy. the focus is here is on the york in firms that are here. boys, what you're confirmed are trying to do now is we roll their value chains to make sure that they have partners and markets that they can rely on markets and partners that are more predictable given the world. we live in with the war in ukraine,

and of course, the harvey pandemic japan dutch embellish reporting that from hanover now to the biggest investment project of its kind in the history of the u. s. state of georgia . car maker revene says it'll create over 7000 new green jobs, but residents are not happy. they say the $5000000000.00 factory revene wants to build, will ruin their royal way of wife, dental correspondence, stefan simons and water. iran went to rutledge, georgia to take a closer look. this is ribbons version of the shiny new electric vehicle world. the companies, electric adventure vehicles, ready to conquer the u. s. market. revene, headquartered in irvine, california says it's future is bright. one reason for that optimism is here. well, not here, but he, oh,

well come to manage lovely 50 miles east of atlanta. the tiny town in morgan county, georgia is home to just about 900 residence. there is no traffic light in rutledge . the only intersection in town is safeguarded by this, the stop sign beryl ah, cruise alton howard, the mayor of rutledge is in a bit of a tight spot right now, ribbons plan to build a huge electrical vehicle. assembly plant nearby is not sitting well with everybody in town. alton, our things, he knows why most the people who moved i moved here. ah. they were like, oh my wife carol and i oh, gotta be empty nesters and, and we were tired of the, of the hassles of, of the atlanta area or that. so we, you know, we came out here to, to relax many here fear the beginning of river in rutledge could

mean the end of their cherished lifestyle. the even make once this area a whopping 2000 acres or the equivalent of 1515 football fields for their massive new plant project. terror as river calls, it could bring an estimated 7 and a half 1000 new jobs into the roof region. oh, we me, jo, ellan arts and chess. more for lunch, the only open restaurant in town. joe london chess are part of a local group representing thousands of opponents to the proposed review project every day is like a vacation here that you talk about bringing 750210000 people a day. 24 hours a day into a town that doesn't even have a stoplight. also the concern about lithium batteries. and once this had been announced, it then was revealed that they planned to make lithium batteries and site in

a production process. it's never been done before in the united states. mm hm. there are many more concerns including groundwater level than water quality protection. for example, there are also many grievances about the decision process. there's anger about the elapsed lag of transparency and frustration with local and state officials involved in bringing river in to the area. and that's it, your up to date with d w business if you want or you can check out our website, d, w dot com slash business will be back with more same time. same place with nation isn't in buyer men, a clothing graveyard, to land desert. this is where things wealthy industrial nations no longer need

widest extolled waste. get stranded about the fun in the global fashion industry. close up next on dw, and knowledge of everything. for everyone. that's wikipedia. it uses the general public's intelligence, allegedly, but in reality, only around one 100000 people writes the articles, read by 4000000000 users. who are the authors and whose interests are behind world wide wikipedia? in 45 minutes on d w. oh.

please listen carefully. don't know how with to the goal. ah, feel the magic discover the world around you. subscribe to d w documentary on youtube. east of chillies, pacific coast. a shocking sight. a dumping ground for used clothing. tons and tons.