This is CBSI in the world. I'm John Batchel. The Russian economy under sanctions.

Michael Bernstam, he's here, he's at the Hoover Institution.

My guide on Russian sanctions these many years, much talk of peace, much talk of finding a way forward without more fighting.

However, oil, energy, always at the center of the story for Russia, the gas tank with nuclear

weapons, and still is. Michael, a very good evening to you. You have talked for several weeks

now about the price of oil, and it's fixed in Europe, believe it's sixty dollars a barrel

it's now approaching that number however

there are changes ahead and one of them is

the price of all dropping

makes

the europeans and the american oil producers unhappy and they're conveying it to

the trump administration why are they unhappy and what do they want to happen? Good evening to you.

Good evening to you and it is remarkable as contrary to what we thought before,

because we thought that the American oil industry would be greatly enthusiastic about the energy policy

of the Trump administration to reduce

regulations and to stimulate oil output all over shale oil, traditional oil, hard oil, sand

oil, anything.

And it turns out that today there is a meeting of the American Petroleum Institute, which is a

major group of oil majors, Connaker

and Chevron and Axon Mobil and others, they are meeting in the White House with President Trump,

and they're not very happy about it because they don't want cheap oil, they invested huge amounts,

and they don't want to increase expenditure because their shareholders want

...