Russia is playing it's part, they are banning us, so we ban them. The fact is that with China on their side, Russia doesn't need anyone else.
Dumb move by Russia. It's only going to end up hurting them in the long run. Putin is a pretty hard guy to deal with, but I think a stronger American president would have put him in his place as Reagan did with Gorbachev many years ago. Russia is definitely on the move globally and this is another shrewd move by Putin to attempt to harm Western nations which oppose him. I don't think this will be good for the people of Russia, but I don't think Putin is that concerned with helping his people prosper.
Honestly Russia isn't really hurting anyone, they're not the power they were back in 1942. This goes the same for the whole "invading and flying along other countries airspace" thing. They're making a lot of noise, but nobody's really listening.
Though everyone is guessing that this will benefit China... I'd say not really. The Russians aren't big on eating rice and noodless, and I doubt China has enough meat production to increase their exports in that domain. This is of course just a political "ohh look at me I'm big and scary" from Russia and these sanctions won't be in effect for more than 6 months. They can't survive forever without western food products, but they know that a 6 month stoppage isn't that bad while at the same time having quite strong economic consequences for a lot of western companies/farmers.