Have Russian Sanctions Begun to Bite?

The transcript discusses the diplomatic dynamics between the UN, Russia, and key figures like Putin and Lavrov. It explores the impact of sanctions on Russia's economy, particularly on projects like Exxon, and the broader economic implications for Eastern Europe. The discussion highlights Russia's economic strategies, including state-sponsored capitalism and subsidies to counteract sanctions. The transcript also touches on the potential recession in Russia and the economic slowdown in Europe.

What does the speaker suggest about the state of the Russian economy?

What is the significance of the Caspian summit mentioned in the text?