Long term, this Ukraine conflict and our use of economic warfare will cause Russia and China to move closer together. It will energize the effort with BRICs: https://en.wikipedia.org/wiki/BRIC
Short term, we will inflict far more damage on them but we will also feel this since they are a major global world energy, wheat, fertilizer, titanium (aviation) and platinum (chemical/automotive) supplier.
What short-term damage in Russia? Do you mean the exit of McDonald’s and Victoria’s Secret?