This is

CBS, I in the world. I'm John Bache.

Russia under sanctions. Right now it is official in Moscow to acknowledge

Stagflation is here already.

Russia under sanctions however also means to avoid the sanctioning U.S. Treasury and one method

identified in the Financial Times in these last days is using

a cutout. Progosians, Wagner Group used cutout mining companies in Africa to order what they

want. They would pay for it via the cutout through

J.P. Morgan or H.S. B.C. the two banks named in the story. To a Chinese

company they would buy it. It would be shipped to the cutout company in Africa,

and then they'd achieve it.

This is a method that was very successful in avoiding sanctions.

Progosian was sanctioned, Wagner Group was sanctioned,

but not the cut out until it was discovered.

Now it's been sanctioned, we can presume they move on to get, move on to

another cut out. However, Michael Bernstein at the Hoover

Institution is here to introduce us to a much bigger story, same methodology,

but world scale. Michael, a very good evening to you. The question is

oil how did they do it good evening. Good evening to you and the lesson from

this story is about this Russian mercenary mercenaries shipping money and wiring money from the Sudan to Russia

is that if you create a network in a chain through many third countries of various show companies and for various front companies and show corporations.

No regulation and no enforcement can catch it up in time

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