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The Intelligence from The Economist

Nyet effects: Russia’s resilient economy

The Intelligence from The Economist

The Economist

Daily News, Global News, News

4.53.7K Ratings

🗓️ 13 June 2022

⏱️ 22 minutes

🧾️ Download transcript

Summary

Western sanctions are intended to starve Russia’s economy and hinder its ability to wage war in Ukraine. And while the long-term outlook remains grim, so far oil and gas earnings have kept its economy humming. Why Latin America’s commercial capital isn’t even in Latin America: it’s Miami. And why France is building bridges over motorways for wildlife. For full access to print, digital and audio editions of The Economist, subscribe here www.economist.com/intelligenceoffer

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Transcript

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0:00.0

Hello and welcome to the Intelligence from the Economist.

0:06.9

In New York, I'm John Fassman.

0:09.7

And in London, I'm Jason Palmer.

0:11.9

Every weekday, we provide a fresh perspective on the events shaping your world.

0:18.2

Miami isn't just the best place in America to get a Cuban coffee.

0:22.4

It's more of a Latin American commercial hub than any city in Latin America.

0:27.3

A continuing political upheaval further south is only going to make Miami more important

0:32.3

to the region.

0:35.2

And if you're driving through France this summer, you may notice an unusually large number

0:38.8

of bridges under construction.

0:40.3

They're not for cars, or even for people at all.

0:44.2

They're built for wildlife to try to reduce the number of animals killed by drivers.

0:55.8

But first, more than 100 days into the Warren, Ukraine, and the biggest sanctions program

1:07.2

ever imposed on a major economy is still being tightened.

1:12.3

America and Europe have frozen Russia's currency reserves, while global businesses have

1:16.6

left the country.

1:19.4

32 years after the first McDonald's opened in Russia, the franchise has resolved to

1:23.9

a Russian oligarch.

1:31.8

On Sunday, the company began operating under a different name.

1:36.0

On June 3rd, the European Union joined American Britain in placing a partial embargo on Russia's

1:41.4

oil exports.

1:43.7

The EU also cut off Sterebank, Russia's biggest lender from the Swift Interbank messaging

...

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