There's a great article in the economist this week about
Russia and sanctions. It postulates that sanctions aren't doing what the West thought they would do.
Russia's economy will shrink by 6% this year, not the 15% forecasted in March when sanctions were imposed. China is trading openly with them and the Middle East is providing a surrogate banking system for them. There are $280 billion in Russian assets frozen in Western Banks but they will generate a current-account surplus of $265bn this year due to energy sales. Countries that make up 40% of the global economy are continuing to trade fully with Russia. China will continue to trade with them and do all they can to keep their economy functioning because they want to put down a marker on sanctions so that the West doesn't think they can try the same thing if they invade Taiwan.
Sanctions aren't working. It's time to accept that for better or worse military power is all that really matters when diplomacy fails.