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The sanctions paradox, With Russia's energy exports denominated in USD and their state budget in RUB help me understand how sanctions are really going to have any effect on their government reddit.

I do a bit of forex trading in my spare time as a hobby and after trying to figure out have we hit the bottom on the rouble yet I was left thinking things can't really get to bad for the Russian state budget and it's really only their citizens that are going to be left feeling the pinch, Just hear me out and fell free to correct my thesis.
So anyway Russia typically prices it's oil and gas contracts in USD thanks to the current "petrodollar" standard in energy contracts. The vast majority of their income comes through energy exports and they get paid in USD.
They can now get 46 roubles for every dollar of oil sold compared to this time last year as a result of the 36% year on year decline in the value of RUB vs USD which means their many of their obligations and public sector wages also declined 36%.
In other words this is going to screw ordinary Russian worker but the declining rouble is going to have little to no effect on the Russian government's ability to balance the books and ironically makes it easier for them to pay pensions/benefits/public sector wages
Now the one thing that is going to hurt them in the short term is the decline in oil prices since 40% of their exports are crude oil but Russia has been running a huge trade surplus in recent years and even with sanctions and lower oil prices this continues to be the case presently.
Oct 10, 2014
Russia’s trade surplus widened in August as President Vladimir Putin banned food imports from the U.S. and some of its allies.
The surplus was $15.8 billion, up 12 percent from a year earlier, the central bank in Moscow said today on its website. The median estimate of 15 economists surveyed by Bloomberg was $16.1 billion. Imports decreased 12 percent to $25.1 billion and exports fell 3.7 percent to $40.9 billion.
Thing is when it comes to a trade war cash is king and Russia seems to have no problem covering it's obligations as regards imports. Compare that to Ukraine on the other hand who's declining currency and increasing trade defect mean it needs foreign aid just to pay for the day to day goods it's importing.
In short I cant find any credible economic threat that the west poses to Russia that doesn't come back to bite them in the ass themselves, lower oil prices are going to have a blowback effect on Us shale and Canadian tar sands production of which many require $80 a barrel prices just to be profitable.
Anyway I hope you appreciate my analysis, I did this mainly for myself as I opened a short position on the rouble back in March when the central bank was still intervening to support the price but now that it's stopped and the rouble has been allowed to float I'm pretty much going to close my position unless there is something I'm seriously overlooking here.
Sources:
http://www.tradingeconomics.com/russia/balance-of-trade http://www.bloomberg.com/quote/USDRUB:CUchart http://www.bloomberg.com/news/2014-10-10/russia-august-trade-surplus-rises-as-imports-decline-on-food-ban.html
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