Makes it worse for the Russian business climate. And that applies to everyone on earth, including Russians. Why would any Russian want to invest in Russia with such uncertainty? Capital flight is just going to get worse, or spare money is going to go into stores of value and not productive assets. There is no good that can come of this, for Russia. It simply isnt worthwhile to put up with such political risk premiums.
Not to mention cutting itself off from the best markets on Earth. It doesnt matter what you produce; the rarest thing in business under almost all circumstances are customers. Markets are more precious than any commodities.
I have seen several countries suffering from such self-destructive autarkic whims. The results are always bad, and even if a reform government takes over it can take decades to recover.
As to business climate I understand your point. Sort of like buying energy products from Russia which has kept the proceeds of your payments to them in your banks and then you steal it...$285 billion. Kind of kills confidence...:-)
Articles recently about China working with financial groups to move China’s money out of the grasp of the West. Kind of hard to maintain “currency reserve” and “petro dollar” status when you steal from your customers. Everybody that can will redirect their financial resources after this disastrous Western move.
But, the most important response to your points is that Russia has permanently divorced from the West and all that is left is “negotiating over the children” (this comes from The Duran.)
The media has buried the very important story about what has been going on behind the scenes world wide. Most of the world no longer wants the U.S. to have free world hegemony. Countries outside of the NATO block are forming new power blocks...BRICS, etc. A West vs. East division is developing.
Interesting side note: They had begun these new alliances after the global economic crises and had begun to have yearly meetings. They suspended those meetings once Trump was elected and then restarted them when he lost in 2020 and Biden was elected.
I strongly recommend reading
https://www.voltairenet.org/article216524.html
The end of Western domination
by Thierry Meyssan
The Western sanctions against Russia, decided unilaterally by Washington, are presented as a just punishment for the aggression against Ukraine. But, without mentioning their illegality under international law, everyone can see that they do not reach their target. In practice, the United States is isolating the West in the hope of maintaining its hegemony over its allies.
It’s painful, but so useful to get a more realistic picture of what is really going on.
Buckle up, we are in for a rough ride.