Nearly two decades ago, Vladimir Putin made his intentions plain when he mused that “the demise of the Soviet Union was the greatest geopolitical catastrophe” of the 20th century. In the years since, a staggering number of Russians have come to agree with him, particularly those who are too young to have any real living memory of life in the USSR. They should have been more careful about what they wished for. Moscow’s campaign to reconstitute the Soviet empire in Europe has delivered Russia into a state of repression and economic malaise unseen since the hammer and sickle flew over the Kremlin.

Amid its quest to reclaim “great power” status, Russia has been disconnected from the global economy. Moscow is now staring down the barrel of imminent default on its debts, but that is an academic concern compared with the hardships imposed on average Russians. The regime has responded to the freezing of its assets in Western banks by limiting access to hard foreign currency. Because it has become so difficult to process a transaction inside Russia, analysts estimate that barter will soon make a comeback as the preferred means of transacting for goods and services. In the old days, a box of lightbulbs could secure your child a placement at the Academy of Sciences. Today, Russians will have to be satisfied exchanging Chinese knockoff Gucci handbags for the basics.