Currently, Russia does not pose a clear threat to other countries except Ukraine, but Western provocations may push it to do so. The expansion of the conflict outside Ukraine is what is causing turmoil in the global economic market and is what has compounded the crisis. The policy of economic sanctions on Russia had the opposite effect.

If you believe that Russia is the most important actor in the world, then your conclusions are completely inaccurate. There is a war between two camps, one led by the United States and the other led by China, and the Ukrainian war is only one manifestation of that conflict. Those forces that lead the alliances are the ones capable of causing the global economy to contract or stagnate.