#Russia: Renminbi now the currency in Moscow. Michael Bernstam, Hoover.
The John Batchelor Show
John Batchelor
4.5 • 2.8K Ratings
🗓️ 16 May 2024
⏱️ 10 minutes
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Summary
#Russia: Renminbi now the currency in Moscow. Michael Bernstam, Hoover.
https://www.bloomberg.com/news/newsletters/2024-05-13/russian-economy-stays-strong-amid-sanctions-ukraine-war-spending
MOSCOW 1896
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| 0:38.0 | Vladimir Putin and Hafer's cabinet are traveling to Beijing to meet with shejing ping and his counselors |
| 0:45.8 | and were told by Reuters about Ukraine and energy. |
| 0:50.2 | I welcome Michael Bernstom of the Hoover Institution my guide on the Russian economy. |
| 0:55.0 | Michael, a very good evening to you. Half the cabinet. |
| 0:59.0 | Why? What is in Beijing that Vladimir Putin takes half the cabinet to meet with she |
| 1:04.6 | ping in this no limits partnership good evening to you. |
| 1:08.3 | We're into you not just half the cabinet but the entire leadership of the Central Bank, which is unprecedented and remarkable. |
| 1:16.0 | And all the ministers, all five ministers who are responsible for the economy, |
| 1:22.0 | including the finance minister, have the cabinet and lots of other |
| 1:26.2 | advisors, and then also are all chairs of all major Russian banks. |
| 1:33.0 | So it's a banking meeting. |
| 1:34.3 | It's a financial meeting. |
| 1:35.9 | The Russian financial system is in trouble, |
| 1:38.4 | and it is in trouble because under the threat of the United States sanctions, |
| 1:44.0 | miniature Chinese banks, the four state-owned banks, |
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