There is no point to create hysteria.
And there is also no point to read "the experts" on countless MSM sites, since they were lying before and sure they lie now.
Russian economy was always oil and gas oriented and eventually the consequences are to come, as right now. But to get out of this dependency Russia has to start producing and exporting goods. For that the export should be cheap.
Right now it is a good time to let ruble "fall" or more precise to let it find its real value, because it is easy to blame the US and the EU for "the sanctions". The CBR could have stopped the fall by intervening on the currency market but it deliberately chose not to, to save money and to let ruble fly.

On behind that some interesting things happening:
CBR increased the interest rate to 17% but not for all loans.
It left investment oriented loans on 9%
Military loans on 10.5%
And, most importantly, small business loans on 6.5%

It is clear that Russia FINALLY wants to start creating businesses.
It won't be easy and there are many things to overcome but it's a start.