does anyone want to educate me more on this topic? this is a crisis I don't know a lot about compared others
Thanks to some (arguably) silly decisions to do with Crimea's annexation, Australia and the EU decided to place sanctions on trade, financial sanctions and travel bans which massively affected their GDP, dropping it by about 6 percent. On top of this, oil became extremely cheap, and Russia has the eighth-largest oil reserve in the world (we're about 25th place), further damaging Russia's economy, putting them in a financial crisis.
But Russia is using muscle to overcome this problem, haha.