That's how it's been since 2014. And that's why Putin feels so bold - he's already been down this road, and he knows it's not as scary as they try to make it look like. To scare him off, something bigger would be required - but looks like there's not much. Even SWIFT restrictions are a no go. The most the West can do is slap some personal sanctions on a couple of billionaire oligarchs (which can very well sit it out in Russia) and on some Russian banks (which probably also can stomach it for years).