Ian Bremmer shares his insights on global politics this week with a look at Biden and Putin's talk, the US boycott of the Beijing Olympics, and the omicron variant.

As Presidents Biden and Putin meet, how are US-Russia relations at the moment?

They're pretty bad. I mean, I would say compared to China where we have lots of mutual interdependence, in the case of Russia, that is not the case at all. The United States does not need Russia economically. The Russians feel like the present geopolitical order, especially in their backyard really doesn't suit them. And Putin also feels like he has more ability to press the Americans harder because Merkel is leaving; energy prices are high. And also because the Europeans coming into winter need Russian gas much more. So for all those reasons, this is going to be a much stroppier, chippier meeting, if you don't mind me using those terms, than we would've seen last time they met in Geneva back in June.