This is CBSI in the world. I'm John Bachelor.

Russia, the Russian economy under sanctions.

The Central Bank has raised interest rates to 18% and will go higher if

according to the statistics that are trustworthy, the inflation picture does not

improve. The Russian defense industry is running 24-7, raising wages for everyone.

However, shopkeepers are passing on inflation by raising prices and so the people who are having their

wages raised then have to pay more for goods and food.

That's called an inflationary spiral that cannot be stopped unless Michael Baron Stama,

the Hoover Institution joins me.

Not only did they talk about inflation and the fear that Russia's economy, the word overheated, is inadequate, but also that

Russia has lost an important trading partner, who? China.

Michael, a very good evening to you. I read a trading partner, who? Who? China.

Michael, a very good evening to you.

I read a paragraph from Newsweek revelation.

Business newspaper commerce, Sant, reported that Chinese institutions access to the US financial system if they have been

involved in trade linked to Russia's military industry. You described all this

several weeks ago.

It started with the Bank of China and it's spreading.

No more business with Russia.

Have I got that right?

And if it's growing, are all the Chinese banks now involved how is

Russia going to get paid good evening to you Michael good evening to you this is a

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