it's a sod reality of life here, right now. people living on a precipice from one minute to the next. and before we go, we have some breaking news for you. a german iranian national has been sentenced to death in tehran following a controversial trial on corruption charges. jumps sheets are marked as a journalist and political dissident. iran claims he headed a pro monarch, his group accused of carrying out a deadly 2008 bombing in the country. we'll have more in that developing story throughout the day. up next is business with janelle de milan with more on vladimir putin speech. thanks for watching. ah, every journey is full of surprises. we've gone all out. to give you some tips with all who red ribbon,

i'm in your northern most count to please. ah, 3 times long. but still very much alive. d, w, travel, you'll go to the special thoughts in germany. i do recognize that where exactly was fun. i learned a lot. our culture history, all their d. w. travel extremely worth of blue o russian president vladimir putin fed. the western sanctions responding to his invasion of ukraine have fail. that's in the long delayed state of the native nation speech on choose day. also on the

show pakistan approves attack son, luxury goods in exchange for unlocking and i am as bailout. and one danish cities. there's, it's going full theme ahead towards climate neutrality wheeler and how this is dw business. i'm janelle dumas on. welcome president. vladimir putin said western sanctions for russia's invasion of ukraine had failed and insisted bratia had all the resources it needs to support the economy. in a state of the nation addressed to russia's 2 houses of parliament, hooton's said he would restructure the economy and focus on domestic demand to offset pressure from the west. last year's 2 point one percent decline in russia's g. d p was less severe than forecast. he also said moscow was working with other countries to build new payment systems and financial architecture. brewton also

emphasized how russia plans to invest in an ext regents. joining me now is demetrika events, key founder of trade, explain a good to have you on with us. dmitri, now everyone wants to talk about how we said the west was overrun with pet files, but we're concentrating on the economy today. what stood out to dimitry. so it's very clear that putin is trying to position russia as buttoning down the hatches and settling him for the long haul. he talked about projects with time horizons in the 20 thirty's that are about not just substituting a western demand with domestic demand, but substituting western technology and western production with unspecified new markets and with domestic production. it is to put it very, very mildly, a very ambitious or a very ambitious plan. he also cares the west of wanting to be done with russia. is

that not, in fact what he wants it's, it's very hard to, it's very hard to understand this. i think prior to the invasion, the west probably didn't want to spend too much time thinking about russia, but we're certainly very comfortable doing business with russia. there was an incredibly, mutually profitable arrangement. there was a lot of business lengths. i think at this point, the westwood still very much prefer not to think about russia, but it has moved itself to a point where the west it can survive without dependency on russian natural resources or agriculture. so i think in that sense he is correct in some ways. well turning inward, he also alluded to economic recovery programs for the quote, new subjects of the federation. meaning of course the areas that is our next is us anchored in any kind of reality?

i think it's important to remember that the russian bureaucratic state is dysfunction, all corrupt and broken in ways that it is difficult for westerners to even wrap their minds around. and it is entirely possible that they will allocate some resources to this, and that they will certainly be kind of potemkin, village up projects where they will demonstrate how much they are helping. they will build individual buildings, though these will crumble in the occupied areas of lawns and in ask to prove how much they are helping. but in terms of actually rebuilding this incredibly devastated region in any meaningful way. the russian track record is not good. he has also said that the west will never, never win this fight on an economic front. is he right? it depends how you define victory. are western sanctions ever going to lead to an

uprising in russia that removes him from power or put russia in a situation that is so economically bad that he has to sue for a humiliating piece on economic grounds alone, without having lost the strategic and tactical battle in ukraine, probably not. but are western sanctions having an effect on the russian economy? absolutely, yes. and are they degrading the ability of the russian military to re arm, especially with the higher tech things that a modern military requires in order to be effective? absolutely, yes. now this week, also looking ahead, we have a, one of a time as a top officials expected in moscow. what do you think lang, ease presents a says about where global trade relations are. as a result of this far, i think it does speak to the status quo we've seen emerge where china will attempt to, in some ways, wage

a russia adjacent but not necessarily fully russia aligned path. where it seeks to prop up russia, which is increasingly a kind of little brother, minor ally in the region, but without fully exposing itself to the roth of the west, to secondary sanctions on chinese companies and so on. so it will continue signaling that it is not cop russia off the way the west has. it will continue to do business with russia where that is profitable for china. and i think something that put mentioned in his speech was trying to improve the logistics of russia. terms of railroads and ports heading in the chinese direction to try to improve those trade flows. but china is not a substitute for the west economically when it comes to rushes economy, and certainly not for many, many years to come. dmitri garzo, vince gay, founder of trade, explain a thank you so much for taking the time to day. thanks so much. and now to some of

the other global business stories making news. the warren new frame cost, the global economy considerably more than $1.00 trillion dollars last year, according to a study by the german economic institute. and in 2023. it could amount to as much as one trillion dollars as the war continues to, to disrupt productions and supply chains and inflation pushes prices higher aaron's currency. the re all fell to a new low following fresh eas sanctions imposed on monday. and now takes $500000.00 rails to buy $1.00 on foreign exchange markets. iran central bank that plans to open a new foreign exchange center to control the exchange rates. pakistan's parliament has agreed to raise taxes on luxury imports and services in a bid to unlock a critical loan from the international monetary fund. the i m f has urged the government and islam abide to protect the poor as it introduces reforms aimed at ending a deep economic crisis. the process of food in this color to market and

throughout boxed on costs 4 to 2 per cent more than it did last year. years of financial mismanagement and spiraling debt in the country is taking its toll on the most wonderful then a lot of good therapy. we have to skip meals now. sometimes we don't have lunch. other times we don't have breakfast. we used to feed our children a proper diet, but not now. i only cook chicken once a month. my children won't eat beer jani, but i can't so much the article pakistan. so to 6500000000 dollar loan from d i m f in 2019 and has says made white spreads reforms to unlock loan payments. raising sales tax from 17 to 25 percent and scrapping subsidies on petrol, gas, and electricity prices, policies that are meant to establish the economy. but some paxton is believed the reforms are making life harder, all on his everyday life has become miserable. it's difficult to survive, you know,

for us die or maybe as a curse every time i am, if missions come, they have their own conditions. but the question is, what difference today make for ordinary people? they said about inflation as crossed all images, prices of everything are increasing and the situation in the country is getting worse. if the government agrees with the i m f conditions, inflation will increase further and people will have to live in even worse conditions or log saturday or can get out some like the government says, the reforms are necessary to avoid a deepening crisis. but i am at managing director, christina, god gear, we're taught d w that the government must focus on making the reforms fair attack on you. i want to stress that we are emphasizing 2 things. number one, tax revenues, those who can those that are making good money, public sector, private sector, they need to contribute to the economy. and secondly, to have

a fair distribution of dia, pressures by moving subsidies only towards the people who really needed any luxury tax on the likes of imported cars, appliances and cosmetics, is all part of to plan to shift the burden to wealthier citizens. the i, m. f also, once pakistan to and tax exemptions for some exports and reforms could unlock a further $1000000000.00 in crucial funds. whether they struggle is due to mismanagement or misplaced reforms for now, families like ours ross will continue to skip meals just to make ends meet snacks. we take it to the danish coastal city of sunder bar, which aims to the climate neutral as early as 2029. city officials call the effort project 0. here's a look at what they're doing. valves were fridges and heat pumps. role of the conveyor belt at this factory, and so on, the borg denmark making them requires

a lot of energy. previously, the heat useful soldiering was wasted, but not any more. the van would have your thoughts, and in addition, we want to reuse the heat that we generate here on the funnel above the flames sucks back the energy and the heat, which is then we're used in the production here. for example, for the air conditioning in this whole 3000 people work in this factory, which has been net 0 since this year. any excess heat is fed into the cities heating network. the business has an agreement with the authorities. all part of a public private effort started in 2007 to make on the board climate neutral. in 3 steps. there in a gift of st. first, for didn't indicate before or is energy efficiency, because the energy we save is the greenest energy. next, we use the excess heat which is produced elsewhere. we connect areas. once we have reduced energy use as much as we can,

we turn to renewable energy declines. this supermarket chain is also part of the effort freezers of the energy source heat generated from cooling as we used and covers around 78 percent of us. doors heating means including hot water. for gleaning recycling heat has made all of that possible for 5 years now. but cars remain a challenge there hardly any electric vehicles. the pride of san de berg is ellen, the welds biggest electric car ferry. it is a 100 percent electric with 30 tons of lithium batteries below deck in the engine room. they are charged at night with wind energy, that something that leaves ellen's captain, beaming, mending store. he led he'd francisco. that is totally fantastic to be on board and fantastic to be here because it is so new and groundbreaking, and proof that it can be done to build something big that runs on electricity like cars, some cooper. ellen is a recipe for success and

a model for other ferries in denmark. it seems sandburg and the whole country, a setting feel towards the goal of climate neutrality. and a reminder of the top is the story we're following for you this hour. and a speech today, rushes vladimir putin remained defiance in western sanctions. have failed, and that russia has all the resources it needs to support its economy. thank you so much for watching. how can you deliver anything to anyone and you meet the founding supporting the work of health institutions in your one blood distribution was the best application that is drawn can help with the moment you

launch for the moment that comes like everything was done on our series found is, bally africa d w as you go to use is the thought they will grey you will be with people with every time i come back a waiver lotions.