A Russian form of the "race to the bottom" meaning---do I Russia attempt a full takeover of "New Russia" before or after the Ukrainian elections on the 26th and do I do it before my own Rubel crashes to lows not seen since the brutal crash of 1998.

Ruble seems to be heading for 42/$ (now 41.91), even with no word yet on the supposed rating downgrade

"It's a devaluation. It doesn't matter now how many dlrs the central bank dumps on the mkt," trader tells @Vedomosti http://vedomosti.ru/~HjR

Assume at some point Russia will complain it is a western "humiliation" that is being forced upon them as Putin alluded to it in his Milan press conference---"the US and the KSA have a secret agreement to destroy the Russian economy".