Russian banks went down en masse, the spread of foreign currencies was larger than the official numbers, and people were queuing outside the banks to withdraw money.
Of course, the Russian narrative is that this will hurt the west more than it will hurt Russia...
https://www.bestchange.com/sberbank-to-tether-trc20.html
There was drop of like 5-10%, but that's nothing special. You can still go and buy as much USDT as you want for reasonable price. And this is what majority of normal people use to move money out of country.
PS: I am obviously anti-Putin dude, but at this point sanctions make very little difference short term. Giving more weapons to Ukraine is the only way to stop Russia.
Correct. Long term, the effects of a materially-high real interest rate, capital controls and the demographic and technological degradation of sanctions and the war directly are starting to show their teeth.
Sanctions won’t stop this war. But they’ll facilitate degrading Russia so it is in no position to launch the next. (Weapons will stop this war.)