This is a CBSI in the world. I'm John Bachelor. I welcome Michael Bernstom of the Hoover Institution, my guide on sanctions against Russia during war in Ukraine. The G7 meeting in southern Italy gives us news of the G7

chastising China for supporting Russia. However, Michael's here with news that tops all of that, and I'm learning from Michael

that this is very, very big surprise for everybody in Russia right now.

The Anjas-France news, U.S. sanctions over 300

Russia targets, including Moscow Exchange. The United States announced a raft of

sanctions constraining Moscow's war in Ukraine

while raising mistakes for foreign banks that deal with Russia. Today's

actions reads the script from Janet Yellen, strike at the remaining avenues for international materials and equipment,

including Russia's reliance on critical supplies from third countries.

300 targets including the Moscow Exchange.

Michael, a very good evening to you.

You tell me the Moscow Exchange is special, but there are other special targets in Russia.

What does this mean for sanctions? Good evening to you.

Good evening to you. The Treasury sanctioned about three hundred entities and some banks in China which conduct trade with Russia, major oil-habbon trading company

in Turkey elsewhere around the world, but the most important thing they hit the three entities

what they call financial infrastructure one is the national

depository another Russian national depository another is the Russian national depository, another is the Russian National Clearing Center, which

clears all foreign exchange operations and export operations, and most importantly, the Moscow Exchange.

The Moscow Exchange is the Wall Street.

It's everything.

It's commodities, it's oil trade, it's securities, stocks and bonds and options, but very importantly it is also a foreign

exchange operation. They sell dollars, they sell euros, they sell them in bid for rubles, and so export and

...