batteries, but if i was themselves environmental challenges here about a possible solution, i me, you hopes an oil and paul van and price cap would cover the money flying to russia's war machine. will ask if they're having an impact state of your business on robots in berlin. welcome to the program and may defined in europe's arctic circle. and mining company in 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 wind turbines to smartphones . could this discovery then mean that's about change. cyrano 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 off or ease 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 as i and j. 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 close to the coming years will be about are we already have a race competition on these records because we need it for the entire energy transition. when we need for batteries or 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. running controversial, isn't it because of the environmental impacts and it's done some enormous damage and positive china. does the company that found this face a 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 customers asking from ion j. thanks a lot of 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 groundbreaking new way of storing electricity. the medical doctor founded c. m. blue with a seed capital of 80000000 euros. the 73rd 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 or even gardens. mackarath. the company hopes of

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 in significant numbers, 1st in germany, and then in the usa in 2024. within the guns class 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 level by bit ford and on the form on call . 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 coincidence 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. hello dorothy with her beth m. 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 as 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 compared with the year earlier. 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, continued to rise. now an e. u. price cap and info 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 cleaners, as the measures are actually costing russia and estimated a 160000000 euros a day when additional measures are implemented before the 5th of february. that

economic hit is expected to rise to $250000000.00 euros per day. now the import ban and price cap 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 cougar 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, i think 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 into, would become interesting if it works once the balance that the price actually rises, that buff. this cap 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 are way 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 than the situation for russia even more,

it would make it necessary to get even more tankers. the example of them is at 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 its found a 1000000 ton deposit of ret elements. that could be a game changer for yours industry, which is currently and tyler lyons on china for the rest. it needs for everything from wind turbines, to small fossil for me to visit him, him here in berlin for more at a d, w dot com slash business till next time. ah ah, with

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it seems. so get ready for the brain up to 40 to the answer to almost everything starts january 15th on d, w. ah ah, this is dw, is coming to live from berlin. russia's defense ministry says its forces have taken control of solid are ukraine, denies the claim and says its troops are still there. the ukrainian town could be a strategically important one for russia in the don boss region. also coming up, new research finds oil giant ex.