Telecoms and information technology are Russia's future, not energy and heavy industry, according to Russian President Dmitry Medvedev. Professor Alan Riley from City University has analysis.

ABB joined a list of companies that are considering turning their backs on Russia Monday. CNBC spoke to Karine Hirn, the founder of East Capital, and asked whether there'll be any more companies withdrawing from Russia

Russia's decision to terminate its international obligations under the Energy Charter Treaty comes into effect Monday. David Clark, chair of the Russia Foundation, told CNBC the decision is "not a surprise; it's been a long time coming."

Russia needs to take new steps to stimulate banks to give out more loans, Prime Minister Vladimir Putin said. "Non-performing loans were and still are the main problem for the Russian banking sector," Andrei Kostin, CEO of VTB Bank, said Monday.

William Browder's firm was once the largest investor in Russia, but after the Russian government raided his business, its value is down to zero, with William Browder, Hermitage Capital Management CEO and CNBC's Maria Bartiromo.

Discussing the dynamics of Russia-China ties, Hans Vriens, managing partner at Vriens and Partners says China is now the senior partner in the relationship. He speaks to CNBC's Lisa Oake and Sri Jegarajah about how China will drive a hard bargain, with Russia eager to sell its oil and gas.