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tv   Business - News  Deutsche Welle  June 27, 2022 6:45pm-7:01pm CEST

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is poised to play an outside role in moving desperately needed grain out of ukraine . if it can clear off its cluttered rails. and we'll visit the german court of hamburg to get a better picture of those supply chain problems. you're hearing so much about these days. hello, rocking to the show. i'm seeing busy in berlin. it's good to have you with us. can leaders of the g 7 economies further tighten the screws against russia as it continues its war against ukraine? one possibility under discussion as the group meets this week in germany, a price cap for russian oil, in which major economies act together as a kind of buyers cartel to fix prices. it's a measure that would work best if other major economies participate such as india. but delhi has had other ideas when it comes to russian oil. the e u is trying to wean itself off russian oil as part of its sanctions against the kremlin. but other countries are happy to fill the void with demand for russian oil falling. india was able to obtain
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a huge discount. it has increased its oil imports from russia substantially since the invasion of ukraine. india currently in port $600000.00 barrels of oil from russia each day, according to kepler analytics. that's up from $90000.00 barrels a year ago. the share of russian oil at india's imports has surged to 25 per cent. in india, russian crude oil is refined into gasoline and diesel and then sold abroad. this makes india one of the biggest beneficiaries of the sanctions against russia. or i did have you political correspondent, julia sal deli, joins me now from garment, pardon cushion. that's the sight of those juice of meetings. hi there, julia. india is present in some of these, these discussions that are beginning today. how important is its role in the role of other emerging economies in the g 7 plans or the g 7
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has traditionally been criticized for not really being inclusive with emerging economies like india, for example. and in this years g 7, german chancellor, all of shots really wanted to put the focus on some of these countries and invited them here to to be guests and hold talks together. now the topics that are going to be covered, for example, energy, climate and health are all issues that the g 7 leaders are aware that can't really be tackled by the g 7 leaders alone. there has to be cooperation with these big emerging economies around the world. to really be able to achieve results world wide. and the fact that these countries have also been invited to the g 7 comes to show that the leading economies in democracies in the world are aware of the importance and increasing importance that countries like india or south africa, or even senegal are gaining in the world economy these g, so in meetings, follow
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a series of meetings between emerging economies and russia, brazil, india, china, south africa, among them is their sense that both sides, in this case, that is russia and the nations that are trying to stop it's war and ukraine, that they're trying to woo these emerging economies, or is that too simple? no, that is the impression that emerges from, from these opposing meetings almost because we see on one side, russia trying to keep the bricks, countries on its side and trying to offer a support to them. but also to receive their support on the other side. and then the g 7, trying to also keep up countries like india or brazil on its side also because if we look at india buying so much russian oil after the war in ukraine started. these countries have the potential to help russia out of the sanctions and to keep the russian economy afloat and substituting almost the kind of economic relations
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there. a russia premier previously had with g 7 countries and especially also european countries. so it is in the interest of the g 7 to keep these countries on their side and, but they also have taken a look at a developing countries. yesterday, the g 7 countries announced that they are pledging $600000000000.00 in investment projects in developing countries in an effort to challenge china's belton road initiative. the huge investment projects that are china is also carrying out in developing a china is also carrying out in developing countries to try to keep these countries out of the risk of falling into a debt trap with china and china asserting too much political and economic influence there okay, so it's in the interests of g 7 economies a to bring these emerging colonies in particular in to the fold when it comes to applying pressure on russia. what kind of leverage do they have?
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on the one hand, already the fact that they are offering a seed at the table is important. it is important for these emerging economies to be taken seriously and to have a voice in important decisions that will go an impact of their population too. but the g 7 countries also have to convince emerging economies that their values and their plan for the future are in their interest to when they, when we look, for example, at the fight a to the fight against climate change. democracies in the g 7 have to convince the emergent, emerging economy that their plan to invest more in renewables and try to slowly abandon fossil fuels is something that is worth pursuing. and also they have to, in their mind, try to keep these countries further away from the orbits of russia, but also of, of china, which they see now, not only as a competitor, but as a challenger. and truly we have to ask you about inflation. it's a major issue across g 7 economies. what kind of specter is that playing in these
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discussions? well, leaders including german chancellor, all of sholtes have said yesterday that inflation and a looming economic crisis are of great concern. now the issue is that they have to try to strike a balance, for example, between a punishing russia for its attack against ukraine, but also not punishing their own economies with the sanctions that they apply to russian. it is a difficult balance to strike. now the cap on oil prices could be a win win situation where they find the solution that it damages russian. it rushes economy, but also try to reduce the bird and the price burden on the people in g 7 countries. but there is definitely concern that especially next winter could be a difficult one with increasingly expensive energy prices that are likely to hit all right. d w's, julia. so gillian, gar, ms. pardon cushion?
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walking us through this use of miss goshen. thank you. well another focus of the g 7 is getting grain and other commodities out of ukraine and into the countries where it's critically needed, including africa and the middle east. neighboring romania says it has a role to play, but there is a catch it's infrastructure. in particular, it's rails isn't up to snuff and it's going to cost a chunk of money to get it there. take a look. the mirage is, is going to our gears. it can finally be loaded with grain in the romanian port of constant. so, cargo ships have been backing up more than usual here since the ukrainian port of odessa was blocked. the managing director of europe's fastest grain terminal says everything has to go faster, as you can see, 3 days after the war started. and the way i understood that the, it would be definitely a need. oh, we've us to some 4000000 euro altogether. so the, the project will be reviewed by the end of this month. all the terminals could work
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faster, but he says, 200000000 euros is required. above all the project need support from the e. u and the romanian government. but pass mismanagement and corruption have left their mark. for years the state railway has been storing its scrap on the access road to the port. only 4 out of 80 lines are in use. andre tells us the tracks are now slowly being cleared for grain shipments from romania and ukraine. this equality good is ition. everything is political then we want to show we can manage it, we're helping them. but if there were no war, they wouldn't clear the tracks with a lonely romania transport minister says it's a test for his country here. he doesn't want to wait for you money. we must act quickly so we find the money on the national budget.
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this investments are the, the spectrum of the war because we never invest in those lines. for 30 years on the ukrainian border. old rail connections were overgrown and falling apart. but in 2 months, the should be back and use trucks alone can handle all the green shipments. but romania can now play a key role in helping ukraine export grain. a supply chain problems are bogging down businesses and economies around the world. and not just because of the war in ukraine, also because of the whiplash of nations pandemic recoveries. and take a look at hamburg. one of europe's most important ports, containers there are piling up and that's creating waves downstream to sophia express is making another stop. in hamburg, the 330 meter long happen, lloyd ship arrived a few days late because there was no more space in the port. there are far too many
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containers here. the absolutely full storage space causes ripple effects. that's not the use. this is buffer storage for overflow volume, but if you wanted the 2nd one from the bottom, we'd really have to think about how to dig it out for you host border and loosen on the answer called the container terminal in hamburg is highly automated. but for some time, he has not been able to exploit this advantage. after the pandemic, it now faces economic uncertainty. this, the input booklet containers are usually picked up after 4 or 5 days before, but now they're here an extra 2 or 3 days hug. and we just don't have the space hum vian this did plots. shipping companies are also feeling the consequences. happy lloyd has been closely monitoring it's 250 ships. 3 of them are in the north sea waiting to dock in hamburg. thus the door did, so that means our time tables which are already under
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a lot of stress are being delayed even more for the ships would normally be returning to asia. but can't go here. customers are waiting longer for their shipments than they would like linger. it's all in all, it's not a good situation, so kinda soon as you told so, happy lloyd is now trying to bring the export containers to the port at short notice. and while importers are being rewarded, when they pick up the containers faster, there's little effect on the this to you haven't seen a real turn around yet. i expect it will continue this way in the coming weeks. probably all the way through summer dollars, honey, to tens on motivational ports across europe are now trying to increase space by demanding penalties. but at the same time hamburg operator hopes businesses and shipping companies will take action. it will matsui slow of information, needs to be much better so we know what has to be done with these containers in advance boxes and in interior regions. regardless of the country. space has to be
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created a production sites to have a buffer of one or 2 days soon, buff on couldn't, but solutions like these take time, and that's something ports don't have as traffic piles up. in his reminder of our top business story, leaders of the g 7 economies meeting in germany are discussing further sanctions against russia, including a price cap for russian oil. major economies would act together as a kind of buyers cartel to fixed prices. as our show check us out a line d w dot com slash business in beardsley. mitch roger with ah, with
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ah august 21 at the global media fans 2022 river to go to frickin on the cross we had. we talked with creatives from africa and the african dias. nowadays, you find a different life path. 5 different perspective arts 21 in 30 minutes. d, w. syria. 2013. a brutal mass murder filmed by the perpetrators themselves. specialists and amsterdam have been trying to uncover the circumstances of the crime for yes. who
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are the offenders? who are the victims? a search for that gets under your skin. close up in 75 minutes on d, w. m a and how many portions of lunch and out in the world climate change in cost to stores. this is my plan, the way from just one week. how much was can really get we still have time to go. i'm going all with a
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ah ah ah, it's dw live from the lin doesn't fear dead, an engine in a russian missile strike on a shopping center that ukraine. president obama has the landscape condemns. it is a novel war crime and renewed his claim to world latest weapons to fight.

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