Effectively, every Russian's salary just depreciated 50% to a significant portion of the goods they buy. Local businesses might come out on top of this due to

Effectively, every Russian's salary just depreciated 50% to a significant portion of the goods they buy. Local businesses might come out on top of this due to their goods being more competitive vs imports, but the population is screwed again. Rich guys become richer, poor guys become poorer. But that's just the exchange rate. Credit rates hiked up significantly and foreign investment into Russia dwindled. Big projects are put on hold due to uncertainty. My outlook is negative.