Russia has been working on legalizing bitcoin for the last couple of weeks. They definitely knew what they were doing.
Leaders of Russia had been huge supporters of cryptocurrency even though there are some hiccups along the way of the country's crypto adoption.
Sure, bitcoin cannot be banned but let's say the U.S and the EU decide to ban bitcoin just because Russia is using it to avoid their sanctions (or at least use that as an excuse), what do you think would happen then (if we're talking about the price)?
We can see a sudden fall in price but eventually, it will recover. That is to be expected whenever there is huge news regarding the Bitcoin adoption or Bitcoin ban. Traders tend to react to FUD and HYPE and manipulators always take advantage of the confusion but eventually, the market will recover once these kinds of events came to pass.