As I had mentioned in an earlier comment, there are possibilities for further sanctions imposed by the US, the Biden Administration had just announced they will be placing further sanctions on the Nord Stream 2 pipeline. I can only imagine this will further hurt Russia, along with the possibility that Germany may be paying some sort of price. https://www.reuters.com/business/energy/us-plans-sanctions-company-building-russias-nord-stream-2-pipeline-cnn-2022-02-23/

Given the Biden Administration placed sanctions on Russia's defense banks, while it may hurt Russia, the Biden Administration also noted that further sanctions will be imposed if necessary, when tensions escalate. Given these statements, I could only imagine that further sanctions can be placed on other major banks in Russia, handicapping their financial system. Aside from that, I can see that Russia imports a lot of food, automobiles, and electronics, sanctions on those can be detrimental. https://www.reuters.com/world/white-house-announce-fresh-sanctions-russia-over-ukraine-2022-02-22/

One thing I found interesting is this opinion article that says sanctions on Russia does not work, almost doing more harm to the people imposing them than good. This is very interesting because we want to keep things diplomatic for the sake of maintaining peace, but either going to war or imposing sanctions come at incredible costs, even for households. https://www.ft.com/content/3d5b851a-02eb-4bd6-b7a4-1cda74b108f5