The beatings will continue until morale improves.
Some Russian citizens were saying they don't support the war and have nothing to do with it. These sanctions make it personal for them in a non-violent, non-lethal way.
We are trading Russians' convenience for Ukrainians' lives and, judging by Putin's tone today, it is working.
You will have to decide how to interpret it and whether he really believes it. It's not exactly a "let's de-escalate together" statement, but it certainly suggests sanctions are working.