The 50% drop in the rouble has not only decimated the value of remittances sent home by workers from the Caucasus and central Asia, but is discouraging migrants from staying in Russia to earn a salary for themselves and their families.

According to data projections by the Guardian, based on World Bank figures, nine countries that rely heavily on cash sent home from Russia for their economic buoyancy could collectively lose more than $10bn in 2015 because of the weak Russian currency.

According to the World Bank, 21% of Armenia’s economy, 12% of Georgia’s, 31.5% of Kyrgyzstan’s, 25% of Moldova’s, 42% of Tajikistan’s, 5.5% of Ukraine’s, 4.5% of Lithuania’s, 2.5% of Azerbaijan’s and 12% of Uzbekistan’s, rely on remittances.

These are some of the highest rates in the world. Of the five countries globally whose GDP is most reliant on these payments, three are former Soviet republics. In most of these cases money from immigrants in Russia comprises a significant portion of these inflows. About 40% of remittances to Armenia, Georgia, Moldova and Ukraine are from Russia, rising to 79% for Kyrgyzstan.