These days, most economies in the world are globalized and depend upon each other in order to thrive. The sanctions placed upon Russia will have a negative impact on the world economy, and there's little countries can do to avoid this development. Russia is a major player in the global economy after all.
First of all let me start of by saying the sanction on Russia are necessary. Putin is basically trying to reclaim the old Russian Empire. He had tried to invade Georgia a few years ago but the U.S. sent troops over to stop that. Now he has successfully invaded Crimea and will continue to move further into Ukraine if not stopped. Now the reason that the sanctions will not effect us is because The president of the USA will not declare any law that will cause a drop in the world economy or his pay check. Me as a Canadian just gets to sit back and watch our closest ally that just happens to be the world superpower tell Russia what's what because our own Prime Minister has no backbone.
We aren't putting any meaningful sanctions on Russia. What they are doing they obviously don't care about, because they haven't changed their behavior in the least. Russia is going to do what they are going to do. They are a small part of the global economy and it won't make a difference.
I think they will just find a way around the sanctions. They haven't seemed to effect the Russian economy thus far and definitely haven't come close to effecting the world economy just yet. I think there would have to be massive sanctions to do that and I'm not sure if we are gutsy enough to do it.
No, applying economic sanctions on Russia will have a detrimental effect more on its population then on the world economy. In countries where economic sanctions have been applied, for example Cuba, this kind of action have not been shown to work. We can also consider the case of Haiti which have been embargoed in the 1990's. In both countries, the application of sanctions has caused a lot of suffering on the local population.