Despite the downturn in his country's economy, Russian President has not backed down from his aggressive tactics in Ukraine. With oil prices unlikely to recover soon, and sanctions from Western countries likely to stay the same or intensify, Russia seems almost certain to suffer even more economically. Putin's grip on power appears fairly unassailable, however, as these setbacks don't seem to affect his policies.
The situation in Ukraine has resulted in stalemate and economic sanctions against Russia by the United States and the European Union are likely to remain in place. The EU is Russia's biggest trading partner and as such, this means that Russia cannot easily recover from the loss of business. Furthermore, Putin has no motivation to rectify the situation. His foreign policy stance is hugely popular at home and the people are willing to blame the economic situation on other countries as opposed to the President.
Yes, I do believe that Russia's economy will continue to get worse if Vladimir Putin does not change the manner in which he is running the country. In my opinion, he has been acting as if his actions will have no consequences in the long run. I believe that his actions will have the unfortunate consequence of leaving his country in turmoil economically.
When the recent round of economic sanctions against Russia first began, Russian leaders and businessmen scoffed at the idea, claiming that the sanctions would have little effect on the country's economic prosperity. Yet these men apparently spoke too soon, and now it is too late: Russian actions have already alienated many countries' leaders, and they will now pay the price in the form of economic downturn.