Smuggling of small, high-value goods was old when President Nixon declared a "war on drugs" in 1971. It was old when the US gave up on Prohibition (of alcoholic beverages) in 1933. It was old when King Edward I of England was trying to collect his duty on the export of wool in the late 1200's. It was old when Rome was still a one-horse town.
Bloomberg is supposedly a real business publication - not "Noob Newz, for Today's 10K". When the Western sanctions and export restrictions on Russia were announced, all the grown-ups understood that they were performative politics, and would only add some costs and friction to Russia's supply chains.
If mainstream journalists don't want to be viewed with contempt and distrust by the public, then why are they working so hard to earn those sentiments?