Our sanctions hurt the rest of the world more than Russia. Russia has been preparing (maybe 2014) for sanctions and I Imagin China is doing the same by offloading treasuries and buying gold. Russia is a big commodity exporter which has kept them afloat, even the US is still buying oil from Russia, the lunacy. Where I see they might be in trouble in the future is things built with western tech. Not sure if they have the know how to fix these items.
"Of course, anyone wishing to see a silver lining to Russia’s current economic situation can do so. High inflation in the United States and the corresponding growth in interest rates there has hit the value of U.S. banks’ bond portfolios, and the March collapse of three U.S. banks sent markets into a spin, prompting talk of “echoes of the global crisis” among analysts. Meanwhile, the Russian economy—safely isolated from the global financial markets by sanctions—escaped unscathed."
Sanctions have cut Russia off from the most technologically advanced sectors of the global economy, meaning any plans for future economic development will once again have to be based upon trading energy commodities.
carnegieendowment.org