The resilience of Russia's stock market and its economy is a complete mirage masking deeper pain, Yale researchers say

• The functioning of Russia's stock market is an illusion, two Yale researchers told Insider.
• It's part of the country's efforts to mask pain in the economy amid costly war and sanctions.
• Investments in the country are likely going nowhere as Moscow's economy spirals.

Russia's economy is on a downward spiral – and so long as President Vladimir Putin remains in charge, any money invested in the country is bound to go nowhere, experts told Insider.