of their star players in their last game. also a big recovery for them is name are who is going to be back after suffering injury name are, is one of those once in a generation towns and who has the capacity to change again, doing something magic. so i mean on paper brazil should win this one, but you never know in the world cut it. i mean it's coming up after a short break. chris cobra will bring you all the latest news in the world of business to stay with us. if you can for that in the meantime, i'm sarah kelly and berlin. take care, stacy? ah, they breeze. ah, they have body and soul. the houses that daniel rebus and constructs are more than just building. ah,

you have to be radical. that's a radical mean. go back to the roof, use the son of jewish holocaust survivors. how lucky that i was able to build to just present berlin is architecture is a celebration of democracy and i won't building. the biggest thing in the world is the spirit of an architect of emotions. this kid starts december 25th on d, w. ah, it is $60.00 per barrel or less a price cap for russian oil agreed by g $7.00 countries and their opinion is in effect as of today, we'll get an expert view of this attempt of lowering rushes, war time, revenues spells success also the european union begins embargo in russian,

all deliveries by ship will have more on the impact and is that the public on risk or the faltering economy will go to china and find out what's behind beijing's most recent. loosening of corona virus restrictions. i'm chris kolber. welcome to the program. a western lead price cab on russian oil entered effect today drawing the ire of moscow and adding another kink to global markets. the european union and g 7 nations agreeing to a seating of $60.00 a barrel over the weekend. under the new rules, western shipping and insurance firms must abide by the price kept for future transactions. moscow again, on sunday to stop all oil sales to nations participating in the cap right for more to spring and make out a quote again. he's an independent energy analyst. welcome to the program,

macau. this price cap is meant to curve brushes, war time, revenues, will it? yes, definitely. will. we already here that the rest of the usual responded to the price camp and embargoed today with the to declare agency and both declare reasons, absolutely meaningless for us. they said that they are not go into deliver oil to the countries that join the price gets scheme. and those cancer is heavily rigid. stopped important all russ and crude oil. so it's, it doesn't make sense to make such threats. next thread is from ross. russia is going to decrease oil production, and that's influence the global oil market in the response to the measures. well, if for us it cannot sell it's oil. oil companies under us are already a decrease in production without any well or special orders from the cramp. this is

a natural process because one of our big time customers like india and china and turkey, would they be able to sort of jump in and just buy more of russian oil? i do not think it is possible for us. for china, there are transportation. the book will next change, buckled bottlenecks, and china cabinets receive more oil that it has been receiving for several years before which is limited to and slightly less than 2000000 barrels store day. and the country is just unable to increase its intake over us. an oil as to india, it is also an depressor of possible thanks. and the irregular suppliers of crude oil 2, such as iraq and other countries of the person gulf are already promises to offer

discounts, which would be about $10.00 less than the rest and price of oil. so in the alone cannot compensate the loss of the european market. yes, torque it will take some additional oil, but the months you mentioned there any you and barbara of russian all ship by sea is coming to effect today. so how much of an impact does this have? yes, a russia has a well, a problem with the export of that oil, which is the european god through the g 7. the united states are not going to accept and her, according to summer rumors, russia is buying some obsolete oh, very old oil tankers. and provided them with insurance by russian companies store or keep transport an oil to outside market. but 1st such markets will,

i don't think that they exist in the well, in the scope that the russian hopes to sell it's oil. and so i think there will be just occasion though attempts to buy a right to or well to break the rules of the g 7. then european union. my current again energy analyst. thank you. i was just discussed along with a price cabin you import ban on russian all delivered by ship has been in effect since today, meaning new shipments will be embargoed crude that's already underway. still be accepted here is more on the likely impacts of this move. an oil tanker on its way to a your can port a site that should become rarer in the weeks ahead. as of december, 5th, you, russian, oil shipments to europe are officially banned. the move is the latest you effort to

target russian fossil fuel revenues. more than 2 thirds of russian oil exports to the you arrive vice, but soon, no more. germany will continue to import russian oil to the rouge pipeline, but only through the end of the year. hungary, slovakia on the check republic will also continue to rely on pipelines. they argue they have no alternative to russian oil. the widespread boycott is a reaction to russia's ongoing war in ukraine. so how is it affecting the market of situation was already quite successful when i was a fundable commodity. um, so basically you can sell and buy on the wall market and that's what you're of this basically, it blog oil from other sources. just as russia tried to redirect it sales um to other buyers. brent crude was trading around $40.00 per barrel at the beginning of the cove in 19 pandemic. it saw it to a $120.00

a barrel last summer. before falling below $100.00. european reserves are bursting at the seams. new supply contracts have been signed, an oil prices are declining and that has maintained basically to do with the banks at 1st, a steady fair of us and euro song and recession. so, so the lower that's lower economic growth, which would lead to less the month. oil that's pushing prices down, and the other aspect is the chinese lot downs. the band has ripple effects. an end to russian oil flows will be a huge problem for p. c. k refinery in the eastern german town of shed, which was supplied by the drug pipeline. a replacement pipeline from the eurostar are coming to shade, however, it only has about 50 percent of the capacity of the jewish pipeline. so this

questions has yet to be answered by the german government out there, how they're going to proceed to make the to key or finery running. but even if the refinery and schmidt operates at 50 percent capacity, germany's crude supply isn't at risk plans cold for gas stations to be supplied with petrol and diesel from other european countries. and not as some of the other global business stories making news. european commission president was left on the line, says the ear will change its state aid rules and response to a new law in the united states. brussels fears that the u. s. inflation reduction act more investment away from europe, with its $430000000000.00 in climate subsidies you and us officials are expected to discuss the topic. this looked on the as pull the 1st of for a 380 aircraft out of retirement. the double decker jumbo jet will rejoin the

german flag carrier sleep. next summer after maintenance has been carried out, the a 380 it was retired in 2020 am and widespread locked downs which lead to the grounding of most passenger flights. across the world. markets in asia responded positively to new reports that chinese cities continue to loose uncovered restrictions indexes in hong kong and tokyo along those rising on monday cities like managing and cha ching are rolling back testing requirements, including for public transportation. those moves follow reports of widespread unrest last week, due to lockdown measures. fishing has not however, however, officially reversed its strict 0 over policy that led to the lockdown of shanghai and other major urban centers. earlier this year for more of those journalists are being crunch my joins me from beijing far beyond. what does this loosening of

restrictions look like? what he and beijing, the changes are remarkable. really. i give you some examples in my residential building, for example, there's a confirmed colbert case, a direct neighbor of me, and until very recently that would have meant i don't have any chance i would have gotten transferred to a current teen center. but that hasn't happened. and even my neighbor who's infected he can cure his symptoms at home. this is really a remarkable change that shows us that the locked downs are not as strictly implemented as before. and also in the city, you can really see the change up the r testing stations are getting close. a lot of shops have opened again. and also you don't need to show you a health coat that you have on your phone. any time you visit, for example, a supermarket, i think the implementation of those woods are really much loser now and adding to that a news agency. reuters is reporting that china may announce 10 new cove at 19 management measures as early as wednesday. so is beijing's 0 covert strategy, basically

a thing of the past. now what i'm expecting in the next few months, really a back and forth and more like testing the waters. and i don't think begging will really radically or quickly open up. i mean, you have to also see that the vaccination rate, especially among the elderly, is really quite low. and, and i think, you know, though, government is also quite risk of was what we are seeing as a lot of experimenting. how this living with the virus could look like. and, but i mean, if i would have a guest now, i would say yes, we're seeing definitely the beginning of the end of the record. but how long this process will take? i think nobody knows by now. and what are the reasons that are behind this change, of course, is of the recent public unrest, or is it the slight sluggish economy? well, i'm speculating here, but our main deputation is that the timing suggested it really has to do with the

public unrest. there was a lot of anger, a lot of you know, frustration with the locked down. so i think the government felt the urge to am yeah. tame down that anger by using some of the restrictions. but of course, the economy a place are also place in roller, i mean, the i m f, etc are they downgraded their economic forecast for china already several times for this year. and really the economy is doing are particularly bad this year. a lot of shops have suffered, a lot of migrant workers have suffered, a lot of big companies are trying to you know, move to other countries. so at, i think it was really a wake up call and the government has understood that it needs to do something, journalist fabi and cut my reporting from emerging javion. thank you. and his reminder of the top story we are following for you at this hour. a western lead that price cab on russian oil entered effect on monday, drawing the ire of moscow and adding another inc, global oil markets to european union. and g 7 nations agreeing to assuming of

$60.00 a barrel over the weekend. plus guys about to stop all oil sales donations, participating in the cap and the reps up our show for now for more news and background information. go ahead and check out our website at d. w dot com slash business or the dublin using to channel. i'm chris kolber on berlin from me and the entire team. thanks for watching. have a successful day. pico africa. a resolution is happening on the field several wanda, thanks to an electric tractor that set to modernize agriculture. the should be easy to operate. and the other thing is, when it is simple, it's easy to maintain. and to recap,

initial tests are already underway. how does the new tractor measure up? eco africa next on d, w o, raring to read. ah, everyone who loves books has to go insane with the d. w. literature list. 100 german must reads ah, a hobby of a hot over a sokulaf economy. it's when nothing gets thrown away and the most is made of the available resources on a farm in been in. they've been.