Dayuhan---reference the FA article which was good but dated by events yesterday and today.

To quote FA "the dogs of financial war" have started barking and it was not against oil or gas but the Russian banking system---and that is where the Russian inherent weakness lays.

At least five different economic events are all ongoing just from the Rossiya bank being hit and it is reverberating still today.

Russian stock markets and rubel are falling and will continue to fall as the Russian elites see the expanded list of who has been now targeted by the EU/US.

Maybe the oil/gas issue is not going to even play as Russia needs the continuous inflow of hard currency vs EU ability to find workarounds --- the banking sector appears to now be the Achilles tendon.

Russia needs it's banks for capital flows and if that slows so slows their economy.