https://oec.world/en/profile/country/rus Russia’s exports are >50% oil and gas products. The biggest retaliation the West can make right now is a commitment to a rapid exit at unprecedented speed from the oil economy, in favor of renewables.
This is happening because the west has no leverage and asymmetrical priorities. Russia -really- cares that Ukraine stays out of NATO, probably to the point where they would scorched earth the country before it joined, and the west only kinda cares about Ukraine comparatively, as demonstrated in 2014 and 2008. If they actually really care, sanctions don't mean much. Makes me wonder why the west thought the third time…
Ignorance and arrogance, but mostly arrogance.