All true, but I remember several articles in the Economist in the first year warning that no collapse was imminent, and basically that the Russian central bank had plenty of options to recalibrate the economy in the medium term. They made comparisons with other countries that have been subject to similar, or even much more severe sanctions.

Overall I think they’ve been the best source of analysis on this I’ve found. They were explaining what CDOs and such were, and why they were a systemic risk years before the collapse in 2008.