batteries fuss, i faced themselves. environmental challenges here about a possible solution. i. e. u. host, an oil and paul van and price cap would cut the money flying to russia's war machine. will ask if they're having an impact. city to re business on robots in berlin. welcome to the program and may defined in europe's arctic circle and mining company, and sweden says it has found a 1000000 ton deposit of rare earth elements. europe is currently entirely reliant on china for the rarest. it needs for everything from when turbines to smartphones . could this discovery then mean that's about change. key rooney in the far arctic north is all ready sweetens treasure chest. they've been mining iron or here for years. and soon they could also be extracting rare earths. geologists believe these underground caverns could hold more than a 1000000 tons of rare earth oxides. a hugely significant discovery. we have

ongoing expiration activities in this deposit, which means that for us it's open. it's not closed. we don't actually know how big it is, but what we know today is by far the largest upholstered of areese in europe. europe depends on imports of these vital minerals most come from china, which has deposits many times bigger. but it's still a breakthrough of the european union. the geopolitical aspect as say, you can't emphasize that enough. so i would say this is also an important chance possibly to become even less dependent of one single country. sweden's discovery will not entirely offset europe's dependence on china, and it will take years to extract the valuable minerals from under these frozen waists. well, let's discuss what could be

a major development for european industry with cost and francesca chief economist at i n g. thanks for being with us cost and does this have the potential to be a game changer for manufacturers here? oh, definitely. it only comes one day late. so it is a big game. and you're chris, coming years will be about, are we already have a race competition on these records because we needed for the entire energy transition when we needed for batteries, for wind turbans. so it is an extremely important commodity that europe has to import curve. and the only bad thing is it probably is going to take 10 years before sweden is really able to exploit it from the grounds. refining controversial, isn't it because of the environmental impacts and has done some enormous damage in positive china? does the company that found this face the challenge in getting permission to exploit it? i don't think that there will be a problem getting the permission even though you're fully right. that is

controversial. and it is also controversial work comes, for example, in other countries in china to do to child labor. i think, given the importance of these, or even that it is now in europe, which would indeed contribute to strategic harmony of europe. i think there will be no issues with getting this permission. i can customer shasky from ion j. thanks a lot for being with us. now. aerosol around a central component of many green technology is that what, for example, allows wind turbines to generate energy. a challenge for the green energy sector is how to store that power for when the wind isn't blowing. batteries come with the iron environmental risks. traditionally large batteries contained lithium or cobalt extracting these materials is tough on the environment. here in the southern german

province of franconia, a new organic battery system is set to revolutionize how we store sustainably generated electricity. cm blues organic solid flow battery doesn't use rare earths . once the battery buffet are organic, solid flow battery is based on fully recyclable, organic materials that are available all over the world. these plastics are all recyclable and also biodegradable you about. it was pit guyla's idea to come up with a ground breaking new way of storing electricity. the medical doctor founded see him blue with a seed capital of 80000000 euros. to help me 3rd of hurdles i became very interested in how nature generates transports and stores energy and human cells. and it's a fascinating field, especially when you consider that nature uses only organic molecules to store energy and doesn't use any metals, even gardens, mackarath. the company hopes

a pilot project in mid 2023 will prove the new technology works on a large scale in practice. the plan is to produce the large scale green battery and significant numbers. first in germany, and then in the usa in 2024. within the gums club visally, we have to follow the markets. you have to go where the technology is in demand on a large scale. america is simply further ahead than europe. but i think europe will follow and we're looking forward to that. we'll put that forward on the appointment of all the company currently has a 170 employees to ensure it keeps growing. c m blue is negotiating with new investors. they're looking for more than $200000000.00 in fresh capital. the demand for batteries is expected to grow strongly. lithium batteries will continue to be used in computers and cars. but when it comes to bulk energy storage,

the new technology on see a blue could prevail. now. he had of, of quinton, under guns, w. basically, this is a very serious proposition, and it's also an exciting and thrilling technology. it promises to significantly improve electrochemical storage. on a large scale are low. directly to tibetan. c, m blue wants to establish a large part of its production in the u. s. to begin with, but research and development will stay in germany. now let's take a look at some of the other global business stories that are making the news. germany's economy grew by 1.9 percent in 2022. the latest data shows the country managed to stave off a full recession in 2022, with the economy performing better than expected. despite supply chain problems, rushes more in ukraine and high energy prices acting as a drag on growth. chinese authorities is that to allow dds right hailing and other apps back on app stores next week. analysts say it's a signal that

a 2 year regulatory crackdown on the technology sector is ending. aging is seeking to restore private sector confidence and hopes the technology industry will help spur economic activity. chinese exports in december tumbled almost 10 percent to $30000000000.00 of the year alias is the biggest for since the early days of the pandemic in 2020 trade with the e. u and the u. s. declined sharply trade with russia, however, continue to rise. now in e u, price cap and import ban on russian oil was devised to cut off funds to moscow's war machine in ukraine. and according to new analysis by philip bass, energy, think tank, taking their toll. the center for research on energy and clean air says the measures are actually costing russia and estimated a 160000000 euros a day when additional measures implemented before the 5th of february. that

economic hit is expected to rise to $250000000.00 euros per day. now the import band and price kept together have caused a 32 percent drop in russia's oil revenues in december. so the measures are making it more difficult for moscow to fund this war in ukraine. it would appear as discuss that further with the honest clue go from the german institute for international and security affairs is great. have you on the program and just talk us through exactly. you know, the impact that these measures are having and whether or not it is the impact that the you was aiming for. thank you very much for having me. and so the goal of these mattress it came into effect in december, who actually twofold, on the one hand, as you mentioned, it was about reducing rushes or revenue. and on the other hand, the goal was to keep russian oil flowing toward markets. to avoid oil prices from rising to much and hitting consumers all over the world. and if we now look at the

results that we see, we see a strong drop in the price that the dresser is getting for its oil. while there's only a small, a drop in russian export volumes, we can actually say that does this very close to what the original golds off these measures were. now what we don't know is exactly which measure is causing which effect. so we have on the one hand, the you, which stopped importing most of russian oil in december. so this is basically russia losing a big market. and on the other hand, we have a shipping band which makes it very hard for russia to send it to other markets. and both together are sort of causing russia to, to have, it's a to, to have to, standards are very cheap. but i believe that at this point, the you import band is the more important measure and the oil price cap at this point is actually not binding because the prices are so low. anyway,

i'm interested, i will impact this is having on russia's customers that on the is the price, for example, giving them an opportunity to ask for low prices themselves. so the price is also for 3rd countries like india and china, also determined by supply and demand. and right now, they simply see a lot of russian supply coming to the market because it is not because russia cannot send it to you countries any more. so, so at this, that the result is that indian refiners, chinese refiners can simply ask for lower prices because, you know, if they, if they don't get it from one company, they can go to different company. so it is still supply and demand making these prices. and the oil price cap for will become india would become interesting if it works once the balance that the price actually rises, that buff discount right now, it is below the cap. so the cap is not binding, and it is simply supply and demand,

which is causing very low prices, which away under this cap that has been introduced, russia is going to go on to counteract these measures and get that business back up again. is that something it can do in the short term? i think that actually most of the effect that we are seeing is it's going to stay. russia, of course, tries to, to circumvent this, they try to build their own fleet of tankers, but it will be difficult because they are only so many tankers available in the world. and the shipping routes from europe, from, from european russia. so from west on russia to asia, a cynthia very long, so you need a huge treat to do that. and i think it will not be possible to replace the market for russia even in the longer term. and i mean, we also have to consider that there is an additional band coming on russian oil products, which was even worse. and the situation for russia even more,

it will make it necessary to get even more tanker. but there's not a time, but thank you very much for joining us on the program. thank you very much. just a quick reminder. the tell business story that we are following for you this. our mining company in sweden says is found a 1000000 ton deposit of ret elements. that could be a game changer for yours industry, which is currently and tyler lines on china for the rest. it needs for everything from wind turbines, to small fossil for me to visit him, him here in berlin, football at to t t a e dot com slash business to next time. ah ah, [000:00:00;00]

with the count indian, it's clean, flexible, and the most affordable renewable energy on the market. solar power in with an average of $300.00 sunny days each year. india has tremendous solar potential is working and it's fully understood by everybody. and what is the potential that we have here on our hands? but it's usual to run both pros and cons eco, india in 30 minutes on d. w with

love on banning thing that way. but i'm not even know how to work my own car. and everyone was laid. holden every day, just getting are you ready to meet the gentleman and jamie, right? just do it on d. w. these places in europe or smashing all the records, stepped into a bold adventure. it's the treasure map for modern globetrotters. discover some of you a record breaking sites on your back, youtube and now also in book form every day counts for us and for our planet. global ideas is on its way to bring you more conservation. how do we make cities, reader, how can we protect habitat, what to do with a ball? our ways we can make

a difference by choosing smartness. solutions over stain said in our ways global ideas. the environmental series in global 3000 on d, w, and online with, ah, ah, this is dw, is coming to you live from berlin. russia's defense minister, he says its forces have taken control of solid are ukraine, denies the claim and says its troops are still there. ukrainian town could be strategically important for russia in the don bass region. also coming up as the