It’s true that the Western sanctions have impacted Russia’s economy in the first place. But right now, Russia is countering it by cutting off energy and gas supplies to Europe. Because of the gas wars, Europe is now divided as they may try to avoid recession.
Germany is the mostly affected country because they are relying too much on the Nord Stream 1 of Russia where they have supplied 1/3 of it.
As regards to Bitcoin’s price performance due to the ongoing escalation between Ukraine and Russia, it was just temporary and it held on to somewhere $40k until Terra Luna’s crash started the real dump.
The situation in the gas industry has a catastrophic effect on Russia itself. Russia itself has reduced or stopped gas supplies to 12 European countries. By doing this, she drove herself into a corner. "Gazprom" from January to August, according to official data, reduced gas production by 13.2%. Last month this figure was at the level of 10%. Due to the refusal to supply gas, it is necessary to reduce its production. Russia will soon have to mothball its wells. This will cause significant damage to the entire industry. The volume of production is reduced, exports are falling, revenues to the budget are declining, the number of jobs is being reduced.
For example, from January to August, exports to non-CIS countries amounted to 78.5 billion cubic meters. m - by 36.2% (by 44.6 billion cubic meters) less than in the same period of 2021.
European countries are now fundamentally reorienting themselves to other gas suppliers, and are also rapidly switching to alternative energy sources. And Russia is forever losing the European market for gas and oil.