>>513813333
IMO not yet. They're on their knees economically but on the floor.
There's a lot of rolling bad news that they publish fairly regularly within Russian press. The usual suspects try to detract and downplay the severity of the situation. The trouble is that many of these problems are compounding - and every piece of data is always, in every scenario, in the past tense.

One of the fun things to notice in Russia is the symphony of misery in the housing market. Mortgages are in freefall, overdue payments are rising, non-bank 'instalment' mortgages are about 5-10% of the mortgage market now rising from 0% a couple of years ago, the construction sector is building far less acreage then before, and the railways are shipping far fewer building supplies than ever before in addition to shipping a lot less of everything else too.
That is, in short, thing are quite bad now, they were bad before, and they will be very bad next year and the years after war or no war.

>>513129885
>Banks began to reject almost 80% of loans applications
This is huge news - here's the original article from Izvestia in Russian.
https://iz.ru/1936950/evgenii-grachev/dolevoj-pas-banki-otklonili-pochti-80-zayavok-rossiyan-na-kredity

The credit crunch first reported by the central bank in Q1 this year was quite mild at just -0.1%. We don't have the full central bank picture for Q2 yet but this Izvestia report is a bombshell. Russia is in full-on credit crunch. This affects everything that people buy with loans. Houses, cars, weddings, furniture - it goes on and on.
For example the mortgage market has already collapsed starting last year. This has a domino effect into the construction sector - including materials and energy consumption. Transport too to move all those materials about and fuel products like coal. And there is absolutely ZERO chance of recovery with this news about lending.
To put it on other words, 4 in 5 consumers are getting stood up by Russian banks. For comparison, Europe and the US have 80%+ loan *approval* even during recessions, and it's usually 90%+ in growth periods. It's considered bad news if rejection rates even get to 2 digit percentages. To repeat: Russia has 80% credit rejection from banks.

All Russian banks basically consider every Russian except for the super rich to be bankrupt losers who simply cannot be trusted to make payments - whilst at the same time reducing borrower rates.