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This is CBS I In The World, I'm John Bachelors.

Vladimir Putin speaking directly to NATO in his address about the war a year later said

the president of Russian Federation.

The Russian economy and system of government have turned out to be much stronger than the

West believed.

I welcome Michael Bernstom of the Hoover Institution who has been my guide on the troubled Russian

economy this last year.

Michael, a very good evening to you, it felt when Mr. Putin delivered that line that he

was speaking directly to you much stronger.

The question I have is much stronger where much stronger how?

Let us begin with the energy sector.

Good evening to you Michael.

Good evening to you, Timon, it's very important.

Last year was for the reasons totally unrelated to the war totally unrelated to the Russian

government.

It was a good year for Russia because after the pandemic of COVID the world was recovering

and indeed the energy prices were very high.

It's over.

...