Oh, he's cute. Mr. I can never sleep when I'm traveling. He's hugging his pillow like a sloth on a branch.

He couldn't sleep before. Now listen to him. Sounds like an elephant with a chest infection.

Well, they call him a dreamer. And now they're right.

All aboard, Mr. I can never sleep when I'm traveling.

Find all the comfort you need in the quiet lounge.

Piento Ferries, there is another way.

This is John Batcher, conversation conversation with my good colleague Michael Bernstein in the Hoover Institution

about sanctions on the Russian Shadow Fleet, the Tankers, a hundred or more more that Russia is secured after the sanctions visited upon the Russian energy exports

The Shadow Fleet has been successful but now Treasury has decided to sanction individual tankers and anybody

who owns them.

This would be a way of countering the Shadow Fleet. However, Michael here explains how Russia countered the

counter, the Shadow Fleet, and especially one particular tanker that can carry a million barrels of oil?

How did Russia answer the US Treasury sanctions?

Michael Berenstom, the Hoover Institution, much more of this.

We discuss the Russian economy here's Michael.

The Shadow Fleet is a story of kind of catch-up and release so what happens here is that the most important thing about sanctions is

enforcement. Sanctions that are not enforced cannot work. So the United States

government tried to objectives with the sanctions.

One, it wanted to reduce the flow of revenues for the Russian budget from global oil sales,

from export of oil and natural gas, mostly oil.

On the other hand, it wanted to keep the global oil supply intact so that oil prices and gathering prices are not rising for the industries both in the United States and around the world especially in poor countries.

For that the price cap was imposed, $60 per barrel, so that no one can buy Russian oil above the $60 per barrel.

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