Part 5/7:
Gard elaborates on the economic stranglehold that oil and gas revenues have on the Russian economy, highlighting that they comprise between 40% to 63% of the national budget. The analyses shared underscore that Russia's labor issues are less about supply chain problems and more reflective of budgetary crises. Furthermore, he speculates on potential upward and downward pressures on oil prices, presenting a nuanced picture of the oil market's volatility amid current sanctions.