At least the ruble is stabilizing, thanks to steadier oil prices.

The currency has rebounded recently, gaining over 16% against the dollar since the start of the year.

But even though the Russians are calling it a miracle, there is still a long way to go.

In January 2014, $1 would buy you 33 Russian rubles; in December 80 rubles. On Thursday, it was worth 50 rubles.