Sanctions cut off markets from Russian oil, they didn't attack profits directly. Sure there will be a short term hit to profit margins as the oil industry had t

Sanctions cut off markets from Russian oil, they didn't attack profits directly. Sure there will be a short term hit to profit margins as the oil industry had to adjust and different markets have to buy up the sanctioned oil, but its a global market of a fungible commodity. Even if sanctions did somehow target profits directly, has it worked? Do we know that Russian oil profits are meaningfully less than they would otherwise have been? And how do we balance that benefit with the damage caused to European markets that had to scramble to adapt?