my law on welcome german economy minister robert ha, back is in israel to day. amid a looming energy crisis. habit is expected to discuss potential ways to route israeli natural gas to europe. israel has around 900000000 cubic meters of proven gas reserves. it currently exports gas to jordan and egypt, which has its own ellen, g ports to ship the gas, for example, to europe, but so far, only in small quantities. now israel is looking into ways to export its natural gas directly to the continent. the east mediterranean pipeline could connect gas reserves in the 11th base into greece and mainland europe by a cypress and crete. the east mad pipeline can carry 9 to 12000000 cubic meters of natural gas annually. that's around 10 percent of europe supply. but the project is still in the planning stages for now and may take years before it can be operational. and it's just one project among others,

currently in exploration. gina co and joins us now. she is an expert on the eastern mediterranean and natural gas market. gina, thank you for joining us. now. will this project and others like it? will they be ready in time? will they be operational in time to help europe's very current taught gas crisis? well, it depends exactly when we started constructing them. there are for potential projects, as you said, the med pipeline, which would go all the way from israel by cyprus, into italy. and there's another short pipeline which is potentially can be done to go from israel to turkey. and then there are 2 liquid vacation projects, either using the egyptian facilities or doing a floating liquor vacation facility in this room. each one of these projects has a different timeline for potentially the east med pipeline. project to italy will be the longest leads item that the longest to do that all of them could be

completed by 2027, which is the deadline by which europe and the u, especially, is hoping to reduce its gas imports from, from russia. now that's quite a way away, but what has to happen in order to realize these products, are these products well or is really sign what is necessary? is there to finish the feasibility studies of all of them? the 2nd thing on this very side is the government here has to take a certain regulatory am announcements and decisions, for instance, on deciding on where the facilities would be located. and on the european side, what is important is where the pins to decide strongly that they are willing to buy long term gas supplies from a different source. and sign up to such contracts and not just rest on the lows and talking on what they're doing now and hoping that renewables will be the,

the answer of all their problems. what are the geo political challenges? so do you see a rising from these efforts to bring gas saw from israel to, from the region even to tear up? well, the least challenging one geopolitically is to bill day independence floating allen g facility in israel. matt, are doing a pipeline to toki, has geopolitical her doors and that it will be complicated at this time for israel to invest billions of dollars and to put ordinance eggs in the basket. aubrey congested turkey because isn't and turkey have had very difficult relations over the last decade. so from is respond to this will be complicated. the east, my pipeline to, to, to we're, europe, will be fine. geopolitically from israel, but this is one we're talking with object because turkey is reneging on cyprus,

is own economic zones and stating that certain areas belongs to turkey. and therefore, talking with the object of these 2 python projects have turkey as a geopolitical complicated element in them. thank you very much. gina cohen is an expert on the eastern mediterranean natural gas market. thanks for insights. today you're welcome. now the need to diversify away from russian energy sources is coming alongside measures to keep moscow from using its oil money to finance. it's warn you, crane, but some economists say the ease of much touted oil embargo does not go far enough . sergei gary have a joins us now from paris. welcome sir. gay. now you said that the embargo does more to help moscow, at least for now. can you elaborate? thank you very much. janelle, yes, embargoes a game changer and embargo, which has been announced by the european commission,

but it has been cancelled birth last week. is going to kick in half a year from now. which means before that time, when prices will go up in the expectation that will be left oil on the market. and that means in the next few months, we can will actually get more money rather than less money because the oil will keep flowing. while the practice will be higher, and in that then embark a great, but it will work only half a year from now before that embargo is bringing more rather less into school for allowing him to paid for soldier, hire new soldiers. and in that sense, more needs to be done before the embargo. right? but what prices spiking in the short term really aid moscow so much by most indications the wars on its way to costing putin more than he can afford. that's correct. we will the soon, the data for me data for april to jazz that is running there so far manageable,

but he's running a budget deficit. and if that's then yes, every additional euro, every additional dollar to borrow comes into scoffers, which allows him to base his soldiers. now, one important issue here is that he doesn't announce must. my bill is ation right. a month ago, a lot of people say we can go and i guess marsha law declared a war introduce my my bill is ation. he didn't do that because that would be popular. it's that he higher soldier, he recruit soldiers. he paid them an order of magnitude more than average wage. so people can die for him in ukraine. most soldiers come from poorer parts of russia, and that's even more the salary can actually track many soldiers. even with that, he's running short. recently he signed a law that allows him to move the, the age limit or recruit console. so the new builder continues dollar to pay that.

and then that's the course higher oil prices worth more in your brain. now, as you say, all those things have to be financed, but which measures do you think should accompany the oil embargo? while i open the project indic, i talk about 2 measures that's been discussed by economy in the recent month, oil time and price cap. both a would reuse oil rating you're going to get it from organ oil was that is, are back ease where for each euro, that european consumer space part of the amount goes to a special escrow account and did there later to pay for the patient. thrasher will have to pay to ukraine price gap. it's something that mario dragon has argued for, and now you'd have been cancelled into the european commission to look into price kept. for example, production. gov means that european buyers would agree to pay

a limited amount, production, gas, and not more. and furthermore, introduce secondary functions against the 3rd party buyers who would love to be more production oil, little guy. and so this is another matter. both of these measures would allow for one got from russia to keep flowing, but will limit will be used drastically. the amount of money we can get from exporting on linda, economist survey, gary of thank you very much. thank you. staying on tentative measures against russia. the check parliament wants to pass a law to confiscate the properties of oligarchs who support the war in ukraine. that's as the country emerges as one place in the you where wealthy russians with kremlin ties have been parking their assets. liberated overboard for no questions is the theme of the day at the gate of russian firm, emma se in the czech republic,

will y'all be off day we're back. employees have been given a gag order by company bras, husband sir. ah, will you so that you some of dinner, of the people at emma's error, afraid of losing their jobs? the fact that everything's county wars has been talked about for a long time, especially in the public light levels of it, up to no one on the outside can really say what's happening inside the factory regional medical. they're squiggles rank, we'll go this deal until now. emma se belong to russian steel, producer t. m k. headquartered in moscow. it's big it's shareholder oligarch. dimitri pump janski's, a member of pollutants, inner circle is on the ease. sanctions list. apparently the sanctions are having an effect. the oligarch has now given up his t. m. k shares the plant and dani denisha of produces pipes and pumps for the russian oil and nuclear industries. m s st, which employees 400 workers,

came into russian ownership. when chic state companies were privatized, the company means a lot to checks here. the firm was founded by a check, entrepreneurial family at the war needed new disciplinary germany that no, no, we don't know who the real norris here today. they were always executives from russia, for example, in the finance department to veto little. but the official owner was never oversight for his, i'm his neighborhood. he threw all i all of returning white. those submissions that in you could do frog wants to get rid of the kremlin controlled oligarchs because they support the war in ukraine. this data bank specialist has compiled a list of more than 40 russian firms at the very top oligarchy. dmitri pump yon ski together with his wife and son. the search for the real owner of emma se is never over. russian. oligarchs are masters of concealing their property in the west. the ownership structure of the company goes to cyprus, netherlands, bermudas,

and back 3 times. so you had ownership chains of like 568 companies. and it's extremely hard to track down, especially when some older company registries in some countries are not really opened and available. russian oligarchs use bogus companies and front men to hide their property. only a global asset registry could drain this swamp. now to some of the other global business stories making use amsterdam scapel airport saw chaos over the holiday weekend as dutch airline cale, and began to bring back stranded passengers. kayla had previously counselled flights to and from skip all due to the lead processing there. many airports are currently short on staff, as they're trying to come out of the pandemic. alphabet, inc has been fined $515000.00 us dollars for its failure to take down

a you to video that ended in australian politicians career. john or laura was deputy premier of new south wales and accused the company of profiting off of what he called a racist abusive and deaf m. a tory video alphabet owns google and youtube. that's our show for more checkout d, w dot com slash business and dw, and use youtube channel for also on facebook for me and the business team here in berlin. thanks for watching with

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w. ah ah. this as it renews leih from berlin, looking for a lifeline. britain's prime minister faces a decisive confidence vote played by log down breaking scandals at the height of the cove. at crazes wars, johnson could now be forced from office as in peace from his own party trigger. a vote on his leadership, also coming up, boosting morale, ukraine's president.