Yes but they've sped up the movement away from fossil fuels whilst failing to build infrastructure for new industry. They should have some of the best infrastructure in the world based on commodities revenues but a huge portion of it has been stolen and then sat on rather than reinvested in Russia.

They were set for relative contraction against other major economies before all of this anyway due to long term trends away from oil and gas, awful demographics and a lack of competitiveness in other industries. Putin has just made it all a lot worse. It's insane, full of commodities and bridging Asia and Europe. Even one halfway decent leader and Russia would be a superpower.