This is

This is CBS. I am the world. I'm John Bachelor. I welcome Michael Bernstam of the

Hoover institution. My guide on sanctions and how Russia is either evading them or being caught

in the net of sanctions these years of war fighting attacking Ukraine.

From the Financial Times filed out of London in these last days.

The US is warning countries trading with Russia that they, these countries, risk secondary sanctions if they allow Russian banks to set up

local branches to finance the supply of goods for the war machine from the Kremlin.

Michael you have said that China was intimidated and that

large banks in China had stopped trading with Russia. Russia can't clear its

purchases through them.

Now that that same fear is spreading to small countries,

what did Russia do that is now being deprived, that they're now being

deprived of doing?

Good evening to you. Good evening to you.

Good evening to you.

The Chinese Bank's magic Chinese bank's

staff processing payments from Russia,

which means that the Chinese exporters cannot provide the goods to Russia, they don't get paid.

Then the Turkish banks followed the route.

Now the largest Turkish bank, Denis Bank, which is big in Turkey, now blocked all Russian payments.

The United Arab Emirates are now following suit and they are black in Russian

payments, which was a very important hub for Russia.

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