Very bad news out of Russia and Novorussia

Oh boy, today is a bad day for sure.  First, the Russian Central Bank has suddenly raised its interest rates from 10,5% to 17%.  I am dubious that this will do much for the Ruble (currently in free fall for many different reasons) but, boy, will that slam the breaks on a Russian economy which needs acceleration!  Not being an expert myself (I did get an MA in International Economics,