Sanctions reality bites in Russia - central bank spikes main interest rate to 20 percent; rouble collapse continues; warnings of Russian economic collapse

The looming reality of harsh economic sanctions has forced Russia's central bank into extraordinary action to protect the nation's interests.

At the same time, big Australian investors are scrambling to withdraw their Russian investments as the Russian rouble continues to tank.

Australia's Future Fund confirms it has pulled back its Russian investments.

Here's my analysis on ABC NewsRadio.