dollars over here and i want to talk rubles. because tonight, in grammar of the eurasian group posted this. putin demanded rubble payment for gas, quickly realized he is not in a position to make demands . and backed off. suspect we are going to see a lot of that going forward. now we know that existing contracts are still good. gas is still flowing, russian gas into places like germany and other countries. so putin s move basically failed. they said rubles? guess again. we are sticking to the contracts. what does that reveal about putin s position? putin is definitely in a weak position economically. the russian economy is something like one 20th on a good day because the united states on european economy [inaudible] russia doesn t have a lot at its disposal. at the same time stephanie, i want to stress that the united states has imposed an embargo on russian oil. europe is still paying putin billions of dollars on every week for russian energy.
russian oil and gas exports are in a bit of a weak spot of the sanctions. we have to be candid about that. and i think that if the united states and europe do not increase sanctions on russian oil, and gas in the coming weeks the russian economy may well recover a bit. so i think that one thing i just wanted to let the viewers know is that this is a weak spot in the sanctions and something that we should be asking when and why are the united states and europe not imposing stronger sanctions on russian oil exports. if we do go to ten don t we forget that there s a lot of unintended consequences that could hurt us and other nato allies? of course. there are always unintended consequences. i think president biden has done a great job acknowledging that. sanctions against russia are not cost free. this is just sanctioning north korea, an economy that was already isolated. we have to also respect the challenge. but at the same time, ukrainians remain under heavy fire. and it s really ch
russian oil and gas exports are in a bit of a weak spot of the sanctions. we have to be candid about that. and i think that if the united states and europe do not increase sanctions on russian oil, and gas in the coming weeks the russian economy may well recover a bit. so i think that one thing i just wanted to let the viewers know is that this is a weak spot in the sanctions and something that we should be asking when and why are the united states and europe not imposing stronger sanctions on russian oil exports. if we do go to ten don t we forget that there s a lot of unintended consequences that could hurt us and other nato allies? of course. there are always unintended consequences. i think president biden has done a great job acknowledging that. sanctions against russia are not cost free. this is just sanctioning north korea, an economy that was already isolated. we have to also respect the challenge. but at the same time, ukrainians remain under heavy fire.
it when they go to get gassed, when they go to the grocery store, do they say, man, it s putin, or do they just ignored full stop? you know what, stuff? it s more than just being annoyed. this is really hurting peoples budgets. their bottom lines. people in a lot of parts of this country commute for scores and miles every single day. this is a significant impact on the bottom line for families and it comes by the way in a year where there is an inflation for food prices and all sorts of other costs that families injure and their day to day lives. that s the economic reality that the administration is grappling with. it s one of the reasons why public polling throughout this year has shown the democrats in a great deal of trouble going into these midterm elections. so it s not just a matter of who you blame for, but it s the reality that the economy the house hoard budgets are not working for people, even as economic indicators like wages and job growth continue to look strong. it s i
are they paying attention to? it when they go to get gassed, when they go to the grocery store, do they say, man, it s putin, or do they just ignored full stop? you know what, stuff? it s more than just being annoyed. this is really hurting peoples budgets. their bottom lines. people in a lot of parts of this country commute for scores and miles every single day. this is a significant impact on the bottom line for families and it comes by the way in a year where there is an inflation for food prices and all sorts of other costs that families injure and their day to day lives. that s the economic reality that the administration is grappling with. it s one of the reasons why public polling throughout this year has shown the democrats in a great deal of trouble going into these midterm elections. so it s not just a matter of who you blame for, but it s the reality that the economy the house hoard budgets are not working for people, even as economic indicators like wages and job growth c