I want this to be the case, but to use the American phrase regarding the economy there's Wall Street and Main Street. Damage to oligarchs I see more as a political move than an economic one.These robber barons got rich off Putin and they effectively acted as his support group, hurt them and that support evaporates.
But economic sanctions have such a poor record. This might not be a great analogy, but the Royal Navy blockaded Germany in the First World War, no goods came in to the country via the North Sea and the Channel for over four years, a nation with a population of 67 million in 1914. Yet it took those four years to bring Germany to her knees.
Economic sanctions are not a blockade, people will be inconvenienced but they won't starve. I do so want these economic sanctions to work, but if Putin can spin this as the evil west punishing mother Russia for trying to save fellow Russians under the boot of Ukrainian Nazis, it might work in his favour.
Difficult to gauge the zeitgeist in Russia, I suspect, but I don't know, that these sanctions are more about undercutting Putin's support base than anything else, to "inconvenience" powerful people in Russia, to motivate them, old time Chicago gangster style, to pull the plug on the man who's bad for business.