Russian economy in shock

 Epoch Times:

Russian government officials on Thursday said its economy is in “shock” after heavy sanctions and after a number of Western corporations pulled out of the country in recent days after the Ukraine conflict.
...

“This is absolutely unprecedented. The economic war that has started against our country has never taken place before. So it is very hard to forecast anything,” he remarked.

On Tuesday, President Joe Biden announced the United States would ban all Russian oil imports, raising the likelihood of soaring gas prices domestically, over the Ukraine war. And on Wednesday, the European Union announced that it would expand its sanctions on both Russia and Belarus.

Washington’s European allies are, however, more dependent on Russian oil and gas and have held back from sanctioning it.
...

Putin's war against Ukraine has become very expensive for the government and the people of Russia. It has also been expensive military because of the losses to troops and equipment.  The war has shown that Russian tanks and planes are vulnerable and they are also having trouble getting gas to the front and feeding their troops.

See, also:

Putin overestimated ability to bypass sanctions with cryptocurrency, FBI boss says

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