'Storm is Coming': Russians still fear crisisIn spite of Thursday’s cease-fire agreement between Kiev and Moscow, the Russian economy is still struggling amid swingeing sanctions, oil price declines, a weak ruble and rampant inflation. And ordinary Russians are feeling the pinch – with some believing the crisis hasn’t even started yet. Russia’s economy has been hit hard by the severe decline in global oil prices and sanctions imposed on the country for its part in the Ukraine conflict. This, in turn, has caused the currency to weaken 90 percent against the dollar over the last 12 months, further pushing up the rate of inflation which stands around 11.4 percent. To top it all off, Russia’s economy is expected to enter recession this year, but one Moscow-based economist told CNBC that the crisis hadn’t even started yet. “We are on the edge of crisis, we’re close but we’re not yet there,” Vladimir Tikhomirov, chief economist at Russian financial services firm BCS Financial Group, told CNBC. “I can say that we have not yet seen the full effect of the economic crisis – redundancies, closing businesses, rising non-performing loans – we haven’t seen those things yet but that’s not to say it’s not coming,” he warned. “This is the calm before the storm, we know the storm is coming it just depends on how severe it is.” Russia’s economy has undergone a radical tranformation from the days when it was a jewel among emerging markets. In 2015, the economy could shrink by as much as 5.5 percent, however, according to ratings agency Moody’s, a far cry from the 5.6 percent growth seen back in 2008. Against such a backdrop of shrinking growth, Russian businesses are nervous, Tikhomirov warned, although he said that they were largely powerless to change both external factors – such as the oil price decline or global slowdown — and internal factors such as President Vladimir Putin. “The business world is worried and concerned. It’s a very challenging situation to put it mildly but a lot of the risks are not in the economy are in politics and geo-politics and that has an effect on the prospects of doing business in Russia.” “Generally, the business sector cannot do much about that — there’s not much influence they can have on politicians,” he said. Self-employed Stanislav Sergeev, who works with start-ups in Moscow and St Petersburg, says he currently has no work now and that he and other business owners are worried. More