I don’t know US Secretary of the Treasury, Mr. Scott Bessent, but I am told by people who worked with him on Wall Street that he is a really smart guy. But based on his most recent claim over the weekend that he believes a new round of sanctions — which includes shutting off the flow of Russian oil and natural gas to China and India — will collapse the Russian economy. Bessent’s statement tells me he understands nothing about the resilience of the Russian economy, nothing about the nature of...