Which Putin uses as a yet another example of west's lack of credibility in his rhetoric, which even seems to have some response in Africa and central and eastern Eurasia (basically everywhere non-west)

Plus it's easy internal propaganda, like, "Look, THEY stole YOUR money".

And since Russia's budget is currently profitable, it doesn't really pose an immediate economic threat.

You have outdated information. Turns out sanctions do work https://edition.cnn.com/2022/09/15/economy/russia-economy-bu... If there was no economic threat there would be no 10% public sector cut.