Apple, Real Estate, Russia, and Carvana
Bloomberg Intelligence
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The Russian Economy and the Russian People's Preparedness for the Long Term
If current conditions prevail, if oil prices remain north of 80%, then I think Russia can tolerate these sanctions for a long time. But on the other hand, because Russian international reserves have been frozen, the country is very sensitive to any drop in oil prices. And it must be a very fragile inflation situation because it's been relatively low. With this tight labor market, especially if they need to draft more troops, that means wages are going to have to rise. We see that the private sector margins are shrinking. And I think the labor costs will definitely reduce growth in the coming years.
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