The economic pain inflicted upon Russia, on the other hand, has been well-documented.
However, despite a weakening ruble and collapsing budget revenues, Russia has been unbowed in its support for pro-Russian rebels in eastern Ukraine. Despite the ceasefire agreement signed just a few days ago in Minsk, fighting continues in Ukraine, with the Ukrainian military pulling back from a strategic rail hub after being encircled by rebel forces. Fighting has subsided somewhat after Ukraine’s retreat, but Ukrainian President Petro Poroshenko called for international peacekeepers to come to Ukraine to keep the peace. All sides are clinging to any shred of hope that the ceasefire may yet hold, with each party calling upon the other side to adhere to the terms of the Minsk accord. It’s safe to say that not only does uncertainty reign in eastern Ukraine, but we probably haven’t seen the end of fighting just yet.