S8 Ep642: 5. Russia’s Economic Bonus from Iran Conflict. Guest: Michael Bernstam. Michael Bernstam explains how skyrocketing oil prices have rescued Russia’s economy, doubling weekly revenues. While Europe faces severe diesel shortages and high costs, Moscow benefi
The John Batchelor Show
John Batchelor
4.5 • 2.8K Ratings
🗓️ 26 March 2026
⏱️ 12 minutes
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Summary
5. Russia’s Economic Bonus from Iran Conflict. Guest: Michael Bernstam. Michael Bernstam explains how skyrocketing oil prices have rescued Russia’s economy, doubling weekly revenues. While Europefaces severe diesel shortages and high costs, Moscow benefits from increased prices and reduced discounts to Asian buyers.,, (5)
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Transcript
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| 0:00.0 | I'm John Batchler, the price of oil, the price of natural gas, energy, the Middle East is aflame. |
| 0:22.6 | Iran is under attack. |
| 0:24.4 | The oil fields are closed to export. |
| 0:27.2 | There's 3,400 ships at least trapped in the Persian Gulf. |
| 0:30.4 | And what is to be done? |
| 0:31.9 | Well, if you're Russia, what is to be done is to make money. |
| 0:36.0 | Moscow, Reuters reporting, the oil price spike triggered by the Iran war |
| 0:41.0 | has allowed the Russian government to postpone a plan to boost long-term fiscal reserves, |
| 0:46.6 | according to sources familiar with the matter. |
| 0:50.1 | Postponement that Russian economy, while struggling with the cost of the military action in Ukraine, |
| 0:55.3 | is one of the few globally to benefit from the U.S.-Israeli war on Iran. |
| 1:01.6 | Michael Bernstam of the Hoover Institution is here as my guide on once upon a time |
| 1:07.2 | the sanctions on Russia for its aggression in Ukraine. |
| 1:14.1 | But now, through the matter of the Iran war, the whole world is watching because energy is no longer an assumed. And you have to look |
| 1:21.0 | around for the fact that if war happens once, it can happen again. What is the long-term prospect |
| 1:25.5 | to maintain stability in my country? And by the way, |
| 1:29.1 | I'm a politician. I have to please the voter right away. Michael, a very good evening to you. |
| 1:34.4 | First, to comment on Russia. You anticipated this over these last weeks that Russia would enjoy |
| 1:40.1 | a bonus because of the price of oil and gas. |
| 1:44.4 | But I believe that bonus is not as complete as it could be |
| 1:47.6 | because there are many reluctant still to buy Russian oil. |
| 1:51.2 | That shadow fleet, that had, what you estimate, |
... |
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