Historically, sanctions have had a mixed effect. They certainly hurt apartheid South Africa, yet the invasion of Crimea was not dealt with harshly enough.
It is clear that the appetite for extreme sanctions is strong this year, with nations like India, US, Germany(?) and Australia all willing to pay the price.
While all war is bad, an invasion of Ukraine is likely to be a walk-over, so we can negate the human suffering aspect, hopefully.
If the invasion occurs, to any degree, expect the economic punishment for Russia to be so extreme that no advanced country ever commits such an act again.
Which means that if Russia can’t be a big fish in a big pond, they might form alliances with the non-West, and slowly form their own sphere that doesn’t recognise the other sphere.