Russian invasion of Ukraine

An all out rejection of Russians smells of xenophobia.

Nonsense. Oligarchs =! Russians.
You want to galvanise the elites. They cannot exist without freedom of international movement, international trade, and international banking , and pressure must be applied to the extent where these are so restricted that their lives are affected, to effect them to pressure Putin. There is no power of the people, but money always holds power.

I agree with you, however, on the risk of rank xenophobia, akin to the sentiment against Arabs, Jews, Asian, Indians, Pakistanis, Black, other eastern European nationals, etc that we've been so good at in this country for so long.

As such, we need to examine our (Western) view on Russia, and others, which has been so very toxic for so long that it cannot be seen as innocent in the development of this crisis.
More erudite people have stated this for a long time, and a quick google highlights a few articles (Foreign Affairs, Guardian, Brookings, FT), sadly many behind paywalls, regarding our own failures to dispose of Cold War sentiments, or the Britain vs Russia narrative that has been so pervasive in our media for a long time.
It should be noted that I'm very much not defending Russia (or other nations) here, but poisoning the water has meant we have clouded vision. We're just less good at spotting our own bias than bias that we're told exists elsewhere.

This war was preventable. It is now becoming increasingly finalistic as the escalation ramps and narrows the path away from containment and economic sanctions.