Russia braced for economic hardship over Ukraine

Russians on Friday prepared for the impact of heightened sanctions as an invasion of Ukraine continued. Some residents were seen withdrawing cash from machines in Moscow.

The EU and other Western powers like the United States and the United Kingdom have agreed on a slew of sanctions targeting sectors from Russia's banking sector to its oil refineries and defense industry.

Speaking in Moscow, financial analyst Alexander Losev believed that Russia's Central Bank would respond with measures to ensure the "damage" from sanctions "was limited."