Both Russia and Ukraine still have so much to lose. Ukraine is seeing its citizens driven from their homes, or even killed. Meanwhile, Russia is suffering under the harshest economic sanctions in history. The severe situation for Russians is driving hopes that a diplomatic resolution to the war in Ukraine can be reached during talks beginning in Turkey. The small amount of optimism has provided a boost to global stocks. Investors have seized upon any sign of an end to the conflict, which has brought such uncertainty to energy markets and supply chains. To get some insight into the situation in Russia, we speak to Jeffrey Sachs. He advised the Soviet and Russian governments at the end of the Cold War, and now serves as director of the center of sustainable development at Columbia University.

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