This is CBSI on the World. I'm John Batcher visiting with a Katerina Zalotova, riding

for Geopolitical Futures in Analysts. She's in Moscow, observing the Russian economy.

2022 was a surprise. Here in 2023, we've seen energy prices increase so much so that we

can report right now that the price caps established by the G7 are no longer holding

that the demand for Russian energy continues, especially in new markets, India and China.

And yet, what can go wrong and why? The first thing you indicate in your reporting at Katerina

is overheating. Is that what's happening to the rubles? Is that considered overheating?

Well, yes. All the economy and rubles will, I consider, are overheating. And a lot

of experts and a special essential bank are pointing to these. Of course, the government

are trying to be more positive about this and they say that right now the economy is getting

into the growth. But there is some risk that these growth will not last long and they will

be overheating. The reason of this is the growing demand. And of course, the Russian economy,

as we just told, is working on maximum. There is a very high production of different goods,

of industrial goods, of goods for citizens. The supply is not enough to cover the demand.

And Russian understands that it still needs to import. And with import, there are two major

problems. First of all, it's very high-ruble. Today and yesterday, the exchange rate was

100 rubles per dollar. This is very high level. I think since March 2022, exactly when the sanctions

were introduced, with the very weak rubles, it's very difficult to import a lot as the import

becomes simply very, very expensive. And the second thing that Russia could potentially face,

it's the condition of economy of its major partners. Right now, Russia is majorly buying

goods from China, from Turkey, both Turkish goods and both parallel imports as well.

Central Asia and the rest of the friendly countries as Russia says. And if the economy could

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