Putin is prepared for it since Russia has its "friend" to trade with in case US and NATO imposed hard sanctions.
.... I still can't figure out why Putin is doing this.
It's hard to understand him if you're used to western ideologies. He's coming from the "protect Russia from destruction" point of view if you read his translated speech. He's fearful that one day the NATO will choke Russia if Ukraine joins the Alliance. Russia already experienced a blockade in one of its sea routes before and Putin doesn't want a possible repeat of that.
Funny how he also calls the US an empire of lies.