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The John Batchelor Show

2/2: #RUSSIA: Rise of the Military Keynesians and Chasing the Shadow Fleet.. Michael BERNSTAM, HOOVER INSTITUTION

The John Batchelor Show

John Batchelor

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4.62.7K Ratings

🗓️ 19 July 2024

⏱️ 9 minutes

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Summary


2/2: #RUSSIA: Rise of the Military Keynesians and Chasing the Shadow Fleet.. Michael BERNSTAM, HOOVER INSTITUTION
https://www.foreignaffairs.com/russia/putins-new-war-economy

1945 POTSDAM

Transcript

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0:00.0

Ah, she's brilliant. Miss, I finally got plans out the group chat. We get it. Four votes for a festival,

0:05.9

three for a city break. It's hard to adhere to everyone's needs. There's Betty with her oversized

0:10.2

tent. Sarah and her six foot eight boyfriend.

0:13.1

All right.

0:14.0

Roger Junior and his dog, Roger Senior.

0:16.8

And don't get us started on Mel.

0:19.4

But, like a marriage counselor, she's the one keeping things together.

0:22.6

All aboard Miss I finally got plans out the group chat. Keep everyone's plans alive when you

0:27.1

travel with us. P, and O'Ferees, there is another way. This is a

0:39.5

the Bess I in the world. I'm John Batcher with my colleague Michael Bairnst, I'm the institution who is teaching me to understand the Soviet economic package that failed and now

0:46.7

the Putin economic package that is well it's lined up to fail but it hasn't yet

0:52.0

because they need to cover their debts and they

0:56.6

need revenue, always need revenue.

0:59.0

And the chief source of revenue in the 1970s that bailed out the first failure in the of the and gas. However, they've been sanctioned enough so that it's limited as to where they can

1:15.6

sell that oil and gas and take advantage of the price caps or not. However, recently, there's been much attention to what is called the Shadow Fleet.

1:26.0

These are tankers that are not especially owned or registered by anybody genuine

1:31.0

and the Treasury Department says, we're going to get them.

1:36.0

We've been leaving them out of this formula.

1:37.8

If you do business with them, we slap secondary sanctions on you.

1:41.8

However, we know that Russia is selling its energy to the east, to

1:46.7

India and China and other customers. So how are they doing it? Michael's

1:50.9

discovered something that strikes me is so obvious and so simple.

...

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