Bank run

"Russian consumers flocked to the stores Wednesday, frantically buying a range of big-ticket items to pre-empt the price rises kicked off by the staggering fall in the value of the ruble in recent days.
As the government considered ways to ease the selling pressure on the ruble, which has slid 15 percent in just two days and raised fears of a bank run, many Russians were buying cars and home appliances — in some cases in record numbers — before prices for these imported goods shoot higher. ...

"This is a very dangerous situation, we are just a few days away from a full-blown run on the banks," Russia's leading business daily Vedomosti wrote in an editorial Wednesday. "If one does not calm down the currency market right now, the banking system will need robust emergency care."
 ...
The ruble has suffered catastrophic losses this week as traders fretted over the impact of low oil prices on the Russian economy, as well as the impact of Western sanctions imposed over Russia's involvement in Ukraine's crisis."

Read : http://www.huffingtonpost.com/2014/12/17/russian-ruble_n_6339950.html and http://www.counterpunch.org/2014/12/16/the-oil-coup/.

This is a very dangerous situation indeed. There is no reason for the West to cry victory. The consequences of Russia's "collapse" for the world economy are difficult to assess but cannot possibly be positive ; and Russia may turn to ultra-dangerous nationalistic- military policies.

As we say in Flemish : "een kat in het nauw maakt rare sprongen".