Yes, this could be threating for an advanced economy like US, Canada or Europe.
But Russians comes out of socialist economy and continuos economic crumbles. They can live with less without having much to lose. As long as vodka rivers won't stop flowing thru Russia, they can face it.
In my opinion poverty won't change their mentality of a bit, if not making them angrier toward the West and more united around their leader.
Better than nothing, but yet not so much game-changing.
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It's my weak point, but also my vitality