Sanctions Could Cripple , Russian Economy.<br />CNN reports as the invasion of Ukraine continues, Russian officials are hoping to avoid a financial meltdown after receiving economic sanctions <br />from the west over the weekend.<br />Upon the implementation of sanctions <br />from the west, Russia's ruble fell to <br />all-time lows against the dollar.<br />as Russia's central bank doubled <br />interest rates to 20%.<br />Experts suggest as its citizens flee to withdraw their deposits, the economy of Russia could shrink by nearly 5%.<br />Sanctions from the United States, <br />European Union, United Kingdom and <br />Canada hope to expel Russia from the <br />SWIFT messaging system.<br />Experts say expelling Russia from <br />SWIFT, a global financial message <br />service, was a move hoping to "paralyze" assets of Russia's central bank.<br />The ratcheting up of Western sanctions over the weekend has left Russian banks on the edge of crisis. , Liam Peach, emerging market economist Capital Economics, via CNN.<br />Experts say Russian President Vladimir Putin has prepared the country for such sanctions, as Russia reportedly bolsters a war chest worth nearly $630 billion.<br />Economic sanctions have reportedly frozen much of Putin's financial firepower.<br />External conditions for <br />the Russian economy <br />have drastically changed, statement from Russian central bank, via CNN
