S8 Ep131: Sanctions Hit Russian Economy Hard as Middlemen Charge Massive Premiums for Imports and Demand Huge Energy Discounts — Michael Bernstam — Bernstam details how countries including China and T
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Sanctions Hit Russian Economy Hard as Middlemen Charge Massive Premiums for Imports and Demand Huge Energy Discounts — Michael Bernstam — Bernstam details how countries including China and Turkey exploit Russia's economic isolation through sanctions. China demands oil discounts of up to $19 per barrel while simultaneously charging an 87% premium for manufactured goods exported to Russia. This arbitrage mechanism has contributed to a severe recession in Russia's civilian economy (5.4% contraction). Russia has increasingly relied on gold reserves to cover government budget deficits and sustain essential spendi32ng. 19
