Putin could kick it up a notch, nationalize the companies assets in Russia and forgive all dept held by the companies in Russia. What kind of a hit would this cause the shareholders of these companies I wonder?

Now sure, international lenders would be more wary of Russia after that, but when you have the resources Russia does maybe credit is less important? Besides, if lenders are going to be used to destroy your economy why not behave proactively?

I doubt it will come to this level... at least immediately, but some people think only the west has the capability to cause financial chaos and pain. I don't think this is the case. This is why I believe we should be more cautious about hostility, financial or otherwise.