A different view to the Russian economy. "The main conclusion for the moment is that Russia is not in an economic crisis, while it sure is in a financial crisis, or rather recovering from such.  We have witnessed a sharp devaluation of the ruble, high interest rates and a soaring inflation, which are elements of a financial crisis. But there has not been any wave of bankruptcies, shrinkage of industrial production or ensuing mass unemployment, which would mean an economic crisis or recession."

Jon Hellevig - Russia Insider