Who will pay? I read the West currently holds $300 billion in Russian assets.
As far as the economic damage to Russia, much of that will be semi-permanent, as no one will be in a rush to resume commercial ties that can be destroyed immediately by renewed sanctions at any moment.
We have entered a new Cold War and driven Russia into the arms of China. Russia will become a colony of China supplying food, energy, and raw materials to the Chinese economy.