It has some effectiveness for sure. The measurement would be hard to establish. But it definitely does it's damage. Here in the US cybercrime cost's us about $100 billion a yr with large business paying out millions and millions a year, along with gov and institutions, and creating about a half million lost jobs and wages.
That's just money, the disruption to basic services, communication, organization and supply that we deal with has to be a giant inconvenience to Russia and really can be a counter attack in the Putin's war against Ukraine.
Cyber warfare is definitely very dangerous and costly in many more ways than one.
Kleptocrats: a ruler who uses political power to steal his or her country's resources.
Kleptocracy: government by those who seek chiefly status and personal gain at the expense of the governed.