system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5: how serious is the Russian economic collapse, and does it have implications outside Russia?

I DID SEARCH. I don't want to know what caused it. I get that. I want to know how serious it is. Whenever I hear anything about it, it sounds like they're in the middle of a total collapse, but it doesn't seem like it's getting much coverage as it should be if that was the case. Wouldn't the collapse of a nation as big as Russia have implications for everyone? Is it mostly just hype?
gpt
It is certainly far more serious for Russia that for the rest of the world economy.

The effects on Russia's economy are well documented: a decline in the rouble which has caused inflation (as imports are more expensive) and a destabilisation of the Russian financial system (due to difficulty meeting foreign debt obligations). 

However, this should have a limited DIRECT impact on the world economy for two reasons:

1) Russia wasn't producing great growth before hand - the fact that Russia is now entering recession won't hit global growth too greatly as it has never been a great contributor to global growth

2) Russia has steadily cut ties with the global economy - the effects of sanctions on both sides (from the US/EU on Russia, and from Russia on the EU) have already greatly reduced trade and investment. As such the deepening crisis in Russia is limited in the extent to which it will impact other economies. 

Hope that helps!