Russia can dig itself out of its economic crisis if it stops being an aggressor in the Ukraine and makes a serious effort to improve relationships with Europe and the United States. If Russia demonstrates its commitment to international cooperation and human rights, eventually the economic sanctions imposed on Russia will be lifted, which could help resolve its economic recession.
I believe the financial crisis runs much deeper than we think. Most world currencies are in trouble especially since so many of the major ones are tied to markets such as oil and currently the competition amongst oil producers is having adverse effects on the economies of countries like Russia, Canada, and Saudi Arabia. In conclusion, it is my belief that the problems have just begun and the financial crisis will claim more victims in the short to medium term.
Russia is a big country with many supporters. I think that they would easily save themselves from whatever crisis is going on, especially if they get help from their allies. I think that they just need to think up a better strategy to go about things, especially since the world is currently changing and shifting constantly.
It is with great pride that Russia has dug himself into the hole they are in after all these years. Their ressources are dwindling, oil prices are getting low, a lot of their workforce is obsolete. They can not get out of this financial crisis easily, they will have to make great effort.