Why would "the world" have any moral obligations? And why would the citizens of EU&UK have to suffer more than say those of US, AU, NZ, SK and so on?
I don't think they should be lifted until Russia reforms. Not even when the war is over, unless accompanied with a regime change that takes serious steps to undo the imperialism.
I think it's completely reasonable to expect Russia to get the same treatment as Iran and North Korea.