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This is CBSi and the world.

I'm John Bachelor.

Watching the Russian economy under severe sanctions since the beginning of the war in the winter of 22.

I welcome Michael Bernstom, the Hoover Institution, my guide on the Russian economy.

Right now we have a cheat sheet.

It's called the World Bank, the Open Knowledge. World Bank annual

expectation of the economies moving forward one, two and three years and assessing what the economies did this year. The Europeans are at issue here.

The Russian Federation is said to have done very well before the war, 5.6, before the war, but the first year of the war, 22, it fell to

negative 2.1 according to World Bank. This year according to World Bank in 23 we estimate we expect at 2.6 that's now done but we don't have the final estimate yet it's too early

next year however 24 and 25 the Russian economy is

projected by the World Bank to decline dramatically. Michael these are

numbers and a very good evening to you.

What I turn on is the Russian economy now depends on its energy exports.

And I read the World Bank summary of that prospect.

Oil production and exports contracted modestly in 23,

and the authorities announced N23 an extension of the export curbs of 300,000 barrels per day, as well as a deepening by 200,000 barrels

...