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This is CBS. I on the world. I'm John Batchel. The Russian economy. Michael Bernstam of the

Hoover Institution joins watching the Russian economy since before the war started in 22.

They have a headline for the BBC within hours.

UK targets Russian oil market and fresh sanctions.

Michael, my understanding is that the oil market is collapsing on Russia.

I don't remember if they're making profit or they're losing with every barrel of oil.

These additional sanctions, what will they achieve?

Good evening to you. Good evening to

you. They're very much dependent on oil, very much dependent on the gold price of oil. The

world price of oil is declining. Today, it is $62 per barrel. The forecast by the International

Energy Agency is $62 during the entire fourth quarter of 25,

and up to $52, down to $52 in 26.

And every $10 decline like this, the Russians are losing about $30 billion in their overall oil supply

because it is 7.3 million barrels a day. And so, these are very much reliant. And now all

sorts of sanctions add up because here and there, they sanction the so-called shadow fleet, the tankers that transport

...