Sanctions aren’t affecting Russia in any capacity.

Definitely false. They were never the slam dunk that they were supposed to be, and it's true to say their effect has been significantly blunted. But that's not the same as "no effect". It's just turned out to be a comparatively mild one (but important nonetheless).

Sanctions are hurting Russia financially. Putin doesn't care because he can extract wealth from oligarchs in whatever manner he sees fit. That's the benefit of being a dictator who has a wealth of knowledge on how to watch his own back after his career in intelligence work. He'll just tell his people to create some propaganda and everyone will fall into line.