Welcome to Axios Recap. I'm Naomi Shaven and I'm filling in for Dan this week.

Today is Tuesday, August 11th.

Cruise line stocks are up, mortgage rates are down, and we're focused on Russia's coronavirus vaccine gamble.

On Tuesday, Russia announced it had approved a COVID-19 vaccine developed in Moscow. The country is planning to inoculate doctors and other frontline workers as soon as

possible and begin large-scale production of the vaccine in September. Even one of Vladimir

Putin's daughters has received the vaccine,

according to Putin. But here's the thing. It is way too early to know the results from

phase three clinical trials of this vaccine. The vaccine from Russia has been tested on dozens of people,

according to the Associated Press, not the tens of thousands you'd see tested before

a vaccine could gain approval in the U.S. Meanwhile, expedited vaccine development by companies

like Moderna, who we've discussed on this show previously, are running phase three clinical trials

now. This week, experts analyzing trial data from Moderna announced that there was, quote,

no way the company could have a vaccine ready by Election Day this year.

That's because even when you expedite this process, it still takes time.

Experts on vaccine research and development have raised red flags about Russia's vaccine.

Immunology professor Danny Altman at the Imperial College London

warned in a statement that there could be real and serious collateral damage

if a vaccine that were not safe and effective were released.

It could cause harm to the people who receive it,

and it could also undermine public confidence in vaccines

that are eventually proven to be safe and effective.

Some experts are also calling the Russian vaccine, which is called Sputnik 5, spelled the

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