forward and protecting the most vulnerable from the worst effects, the potentially deadly illness. here's a reminder of the top story we're following for you. i ukrainian president followed amir zalinski has thanked americans for their support in his speech to the u. s. congress. it's the lens, his 1st trip abroad since the start of russia's war during talks at the white house president joe biden pledge to support ukraine. quote, as long as it takes your watching d w news. stay tuned for the business news with daniel winter. i mommy and he said, thanks for joining us and explore fascinating world heritage sites d w world heritage $360.00 get the app now. i hello guys. this is the 77 percent. the platform with issues. hey, share idea. you know,

all the channels. we are not afraid to talk to and then he gets tuffy. young people clearly have the solution. good future, you know, the 77 percent every weekend on d. w ah, russia opens a new gas field as part of its peasant china. meanwhile, fresh export data shows a slight uptake german business with russia. white will get the expertise and with holiday shopping well on the way we stopped to think about what happened to all the unwanted gifts at that time. again dw business, welcome. we begin with russia, president vladimir putin has inaugurated a new natural gas field in east in siberia that will allow russia to increase exports to china. the kremlin hopes to augment gas sales,

as it's european trading partners, divest themselves. russian energy. moscow wants to boost guess sales to china. gas income is critical to the kremlin, to bankroll putin's war against ukraine. but until now, russia has had very little infrastructure to pump gas eastwood's. now putin has announced the development of what he said would become the largest gas field in eastern siberia plus the infrastructure to export the gas. and eliza, the implementation of projects such as the co victor field, the power of siberia to the far eastern route will make it possible to increase gas supplies to the east to 48000000000 cubic meters 520-2588 1000000000 by 2030 used to it still, but that's still not even close to what the west was buying from russia before the watch. it would be better if you put in claims than your gas field in the east coast region has recoverable reserves of one point. 8 trillion cubic meters. that

would make it around the 15th biggest in the world. the head of gas prom alexa miller says that the co victor field is ready for operation and would soon begin pumping gas eastwood's. russia is desperate to get the project on line as quickly as possible to replenish dwindling walk offers. but the projected timeline to build the infrastructure shows that regardless of the outcome of the war, the kremlin expects, russia will be cut off from western markets for a long time to come. and stay with russia fresh day to res. out showing german exports to the country have increased slightly to 1200000000 euros in value in november. it's down over half on the same time last year, but still higher than when sanctions began in march, i spoke to alexander littman, professor of russian politics at the for university of berlin. he points out that there's still plenty of trade not subject to sanctions. good example of

pharmaceuticals. pharmaceutical experts are also down, but only by about 10 percent as opposed to the pre war state. it was one of the biggest export articles of germany to the russian federation. okay. and done, you know, the, so we've seen that term. this is the amount as i round harvey since at the start of the, of the war, the invasion of russia and ukraine. um, is this to be expected? would you expect this to continue to go down to, to stabilize? why is this going to go? that's difficult. to answer because it massively depends upon what we're going to happen in ukraine, how the war is going to develop. and also how the general state of the world economy of the german economy is going to develop. so on the one hand, a german companies did have long term interests in russia. but on the other hand, the russian economy is now also experiencing what looks like a prologue to it long term stagnation. and this could massively reduce the interest

to deal with russia regardless of the political situation. so it's difficult to tell. okay, i want to switch to energy now. so the in you agree, the gas price cap earlier this week will this significantly hom rusher in any way. what do you think? i don't think so. i mean, we have to be realistic at most measures, which you introduce is when the energy market are going to reduce rushes capacity to export with a you the already reducing it now by the actually what's relevant for russia is the budget effects and budget effects given still persistent opportunity of russia to export gas and oil to other countries outside the europe or european union outside the united states, which are not part of the sanctions. m. so as long as russia has this capacity, it still has budget revenue it needs. so i don't expect their harm to russia to be big enough to really change though war developments while across that fits into what's happened today with their rush president, opening a new gas field with the goal of supplying china. how significant erased

specifically for russia, to what extent can it possibly replace the european market for russian energy? i mean, i don't expect china to replace european markets for russian energy. this is definitely not going to happen. and i also expect the price as rush is going to receive for its gas in china to be lower. and also the technology needed to, for example, sustained the exports to china. it also depends on european delivery. so things are not going to be easy for russia. but on the other hand, the really relevant question for put into government now is not whether you're going to replace europe, whether they're going to get enough money to maintain the government apparatus, the war machine, and the control over the country. at this, most likely it's going to happen. okay, so what could be a strategically important, even if europe isn't this place that alexander lindman. thank you very much for that. thank you. now to some of the other global business stories making news,

100000 specialists of left russia is supporting the minister, the digital development in moscow. the start of the war in february and the mobilize ation. in september, each triggered waves of departures. the majority of fled to neighboring countries including georgia, armenia, and catholics down to avoid the draft of germany's 1st import terminal. for dick provide natural gas has started receiving fuel fire pipelines from the ship, hook, esperanza, the facility at vill homes half on germany is north sea coast started its test phase a day earlier than planned. the floating terminal will receive l. n. g imports converting the liquid back into gas for german pipelines. and now it's time to check in with the word on wall street. yes, of course it is there for us as always in consumer confidence. is the word today lifting the markets. what can you tell us? yeah, i mean the consumer confidence to reach the highest level in 8 months and what is

making people happy as lower gas prices. so if you compare it to earlier, the summer americans pay on the national average about $2.00 less per gallon of fuel than they paid in a june. and then on top of it, we also see it's still pretty strong. a labor market, the lowest unemployment rate still almost at a 50 year low. so all of that combined actually led to this jump in a consumer confidence in the past month. ok. but the big question on everyone's lips is, of course, has to be, is this enough to give us some optimism to the american economy going into the new year? daniel, at least, is a glimmer of hope looking ahead to but clearly, i mean all the effect that we're going to see from higher interest rate here in the united states, probably an increase in unemployment, probably less investment from corporation. that is going to put

a certain direct on the economy next year if it will lead to recession. we don't know yet, but there was also another hopeful sigh. and we got some earnings reports from a nike. and they came in better than expected. partly also because all those issues with the supply chain that a lot of cooperation and had to deal with not just in the united states, going a bit more or a bit smoother. so the stock from nike, by the way alone, is up by about 30 percent on all of that together. also push the stock market higher in the wednesday session. so it won't won't be smooth sailing in 2023. but there is a little bit of help when it comes to supply chain and also that consumers so far as still rather uppy. well, that's exactly what we want just before christmas, a bit of she has some good news. thanks for bringing that to it again, of course, and you a christmas time is almost upon us here in europe and the u. s. as

well. tis the season for shopping, of course, but also returns a logistical nightmare in and of themselves. refunds and exchanges are nothing new for retailers, but online shopping has made the whole process a lot more complicated. what is wrong with this washing machine or these mattresses, or any of these large furniture items? well, that's objective. all these items were returned by customers and sent to this huge storage facility in the germans city of loon. by just one online retailer, it turns out online shoppers have all sorts of reasons for returning purchases and couldn't afford her. i'm her one customer wanted to order a freezer, but accidentally ordered 4. so 3 of them were sent back. that's one example of product wars or large tv screen. some customers ordered them without realizing how

big they really are. and then they find out they don't have enough room for the gun forester, every return, no matter how big or heavy has to be unwrapped and checked, was there any damage? are there any dense or scratches, or most returned goods can be re sold online furniture store, home 24 has opened showrooms, where customers can sit down and get a feel for the product before buying it. and the machine is them. i find it difficult when you're at home in your living room and, and you just looking at furniture on a computer screen. it's hard to imagine what the pieces really like. sometimes you just like to see it before you buy it. and i, again, i'm shown at home 247 percent of all purchases are returned. that's pretty good. says the company for faster retail as it can be up to a half of all items, a major problem and not just for cost. nobody,

he now it is not who is out there this also in by the mental side to the equation, but very important each return as a carbon footprint. we have to pick up everything and wrap and pack it up. i have, i have to move goods one from bava and log. i'm having this returned facility in luna has received less furniture since the company started sending fabric samples before customers ordered online. the firm is also working with manufacturers and advising on changes to packaging. to prevent damage, while the holiday season will keep them busy, they are hoping for fewer returns next year. and it's almost time for us to go. but 1st, a quick check in on our top business story for you. president vladimir putin has opened a new natural gas field in east in siberia, the aim of allowing russia to increase its gast exports to china. as comes as german overall exports to russia, ticked up slightly to in november to 1200000000 euros.

and that's it. you're up to date with d. w. business. of course you can find more on our website at d, w dot com slash business from me on the business team here. thanks for watching. ah, conflicts own with sarah kelly, my guest this week on conflict zone is a renowned foreign policy expert who has spent most of her career analyzing vladimir putin, russia, fiona hill, jointly from washington, where she has advised free west presidents and co author to book on where does she think the boys heading was this good plan all along or have decades in power changed? conflict zone? oh d w. and look at me affectionately as affectionately as you can.

oh, vladimir putin, in the middle of his election campaign, did you turn the camera back on in the year? 2000, but documentary secretly chronicled a power grab vladimir if that i'm here, which do the ends justify the means to tunes witnesses in 45 minutes on d, w o, you become a criminal pre climb aol already know it was kind of to take talk with hackers, paralyzing the tire societies. computers that out were you

and governments that go crazy for your data. we explain how these technologies work, how they can, what was in for, and that's how they can also go terribly. watch it now on youtube. my gosh, this week on comp zone is a renowned foreign policy expert who has spent most of her career analyzing vladimir pollutants. rush up. fiona hill joins me from washington, where she has advised for us presidents and co author to book on pu, her testimony, and the 1st trump impeachment trial made her a household may want to blow bare. she warned of the danger potent destabilization efforts. po.