In this episode, Ben Aris, editor and founder of BNE IntelliNews, shares his insights on the state of the Russian economy amidst sanctions. Russia adapted to the pressure by adjusting its tax system and finding new revenue streams, leading to a stronger-than-expected economic performance in 2023 with growth and rising real incomes. Looking ahead to 2024, the Russian economy is expected to face challenges including maxed-out capacity and tightening labor markets, suggesting potential slowdowns in growth. Ben Aris also discusses the implications of using frozen Russian central bank reserves, the inefficacy of current sanctions over the long term, and the broader impacts on the European economy, including Germany.