Citizens of Russia Under , 'Economic Siege,' Experts Say.<br />CBS News reports the economic sanctions imposed on Russia in retaliation of Vladimir Putin's attempted invasion of Ukraine, .<br />CBS News reports the economic sanctions imposed on Russia in retaliation of Vladimir Putin's attempted invasion of Ukraine, .<br />are crippling the lives of ordinary <br />Russian citizens, and experts say <br />the worst is yet to come.<br />are crippling the lives of ordinary <br />Russian citizens, and experts say <br />the worst is yet to come.<br />Recent sanctions imposed by the <br />United States and other allies of Ukraine have targeted the Russian Central <br />Bank's ability to prop up the ruble, .<br />Recent sanctions imposed by the <br />United States and other allies of Ukraine have targeted the Russian Central <br />Bank's ability to prop up the ruble, .<br />which has fallen nearly 30% <br />against the United States dollar.<br />As news of developing sanctions reached the Russian public, social media posts relayed throngs of anxious depositors lining up to withdraw funds at banks and ATMs.<br />As news of developing sanctions reached the Russian public, social media posts relayed throngs of anxious depositors lining up to withdraw funds at banks and ATMs.<br />Per European officials, nearly 50% <br />of Russia's hard currency stockpile <br />is now frozen by sanctions. .<br />Authorities warned residents of Moscow <br />over the weekend that services such as Apple Pay, Google Pay, and Samsung Pay would no longer work to cover fares for public transportation.<br />Experts contend the varying <br />sanctions against Russia are <br />akin to "an economic siege...".<br />If we have three weeks <br />of what is happening today to the Russian economy, it'll be over. , Carl Weinberg, chief economist <br />High-Frequency Economics, via CBS News.<br />My gut feeling is that the Russian economy cannot survive three weeks of this without failing altogether. , Carl Weinberg, chief economist <br />High-Frequency Economics, via CBS News
