Sanctions Hit Russian Economy Hard as Middlemen Charge Massive Premiums for Imports and Demand Huge Energy Discounts — Michael Bernstam — Bernstam details how countries including China and Turkey exploit Russia's economic isolation through sanctions. Chin

Sanctions Hit Russian Economy Hard as Middlemen Charge Massive Premiums for Imports and Demand Huge Energy Discounts — Michael Bernstam — Bernstam details how countries including China and Turkey exploit Russia's economic isolation through sanctions. China demands oil discounts of up to $19 per barrel while simultaneously charging an 87% premium for manufactured goods exported to Russia. This arbitrage mechanism has contributed to a severe recession in Russia's civilian economy (5.4% contraction). Russia has increasingly relied on gold reserves to cover government budget deficits and sustain essential spendi32ng.
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