Taking Crimea More Important to Putin Than G-8

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March 25 (Bloomberg) -- Bloomberg’s Ryan Chilcote examines how sanctions from the west are impacting Russia’s economy and whether or not they could push the nation into a recession on Bloomberg Television’s “Market Makers.”

Ceremony for artists and actors.

Yesterday it was another awards ceremony for people who participated in the sochi olympics.

They would like to work with the other g7 countries.

There is a realization that for a while the g-8 has been g7 plus one.

Even the russians felt like they were the odd man out.

It was not a useful place for them to advance their agenda.

The g-20 is less exclusive.

They had more of their allies.

They could do better at moving things along.

If they do care, they are turning a deaf ear to it all.

They're pretending like it is not a big deal.

Russia in the g-20, has any of that changed?

They have good support when it comes to the g-20. i'm not sure the chinese are happy with what the russians have done in ukraine, but they have not been very critical.

The resilience of not been overly critical.

The russians still feel that they can do a lot with the framework of the g-20. it would've been nice to host everybody.

It is not more important then taking crimea was.

There has been so much criticism against president obama.

He did have sanctions against russia.

One of the consequences so far?

The sanctions that have been imposed thus far, it is arguable how much affect they have had.

The threat of sanctions does look like it is going to undermine it confidence.

Money is flying out of this place.

More money has left russia in the first two and a half months of last year.

Esther was a bad year.

62 $5 billion have left this year.

-- $65 billion of left this year.

The economy was not a good shape before.

If we see more money leave, they could be looking at a recession.

It will be hard.

I think you get the impression.

The one thing about capital flight is a lot of this money was leaving the money before forces surfaced in crimea.

You could say the same thing about the depression of the ruble.

The stock market has had a good week.

We listen to the white house, remember that you might be hearing a little bit of spin.

Take that with a grain of salt.

Thank you so much for the

This text has been automatically generated. It may not be 100% accurate.

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