Yep, and the Russian manufacturing export surpassed that of commodities for the first time since 1989.
It is perfectly unprofitable to build stuff in Europe with their energy policies.
Mercedes-Benz and Stellantis move factories to Russia for one thing. Most commercial vans of Dodge/Fiat lineup in Europe are going to be of Russian make in two years.
I see the West as having highly inflated currencies. High debt, high deficits, greatly negative trade balances, society flirting with marxism and allowing social chaos everywhere
Meanwhile, the Ruble dropped something like 15% during this crisis. It was already insanely cheap - a government with little debt, no external / no FX debt, high-energy reserves, highly intelligent and culturally uniform people, who have left behind marxism and desire social stability.
Russian assets of all kinds must be an absolute steal at this moment.