THE WAGES OF PUTINISM:

The ruble's plunge against the euro and the dollar is upending the lives of many in Russia's middle class, which in recent years has gotten used to vacations abroad and Western products from gadgets to food.

Booming oil prices helped Russia's middle class grow to 60% of the population in 2010 from 30% a decade earlier, according to the World Bank.

Now, the plunging oil price and sanctions imposed on Russia by the West because of its intervention in Ukraine have sent the ruble plummeting, leaving many of those who at one time could afford the latest smartphones, furniture from IKEA and cheese from France facing a new reality.

A mid-November survey by the FOM pollster found 45% of Russians say the weak ruble has had a significant impact on their lives. The ruble has slipped further since the survey, touching record lows of nearly 58 to the dollar on Friday compared with just over 32 at the start of the year.

Follow @brothersjudd