Russian Coal Industry

Russia was relying on its exporters up until invasion to underwrite demand for the heavier industrial base that it inherited from the Soviet period in the 1990s or 2000s. The financial sanctions make it such that when the Russian economy, you know, exporters earn dollars or euros, they can't really do very much with them. So now those exporters are forced to obviously buy rubles and then negotiate new contracts that are entirely dependent upon domestic price levels and domestic policy. And that, ladies and gentlemen, is Russia's economy as we start in 2023.