They were not much of a deterrent to begin with. However... yeah, that was poorly worded. The sanctions should have fallen heavily and immediately when they crossed the border of a different sovereign nation that we said not to or you will get sanctions....
Do not threaten sanctions you are afraid to use after they do what you said they should not because you think that weak sanctions on the sovereign territory of the annexed sections of the nation invaded will be the "threat" that does it.
President Biden has limited options after Trump weakened our position with NATO and “slow walked” desperately needed Ukraine aid. We can harm Russia in the years to come, put pressure on them but the truth is… short of boots on the ground, Russia is going to take what it wants. Stronger policy with Russia over the past years might have changed things.