Given that most of Russia's business is with Europe, I can't see our sanctions having that much impact. If we can truly have that much effect, just think what China could do to us.
It absolutely is our sanctions. Their oil industry is heavily in debt and they have a 7 billion dollar payment due on Sunday. Our sanctions does not give them access to foreign banks with hard currency to refinance, so if the Ruble crashes, the Russian oil industry defaults. And since the Russian economy is based on oil, Russia defaults (again). There will be a run on the Russian bank by Saturday, just watch.
