It will depend to a great extent on how the situation develops moving forward but i doubt it escalates beyond what it is now. Putin doesn't need an all out invasion beyond those "republics" and a bloody war with mass civil casualties. Such move will be a disaster domestically and won't sit well with the army either. He's a ruthless sob but not a madman.
The West clearly doesn't want to rock the boat either judging by the lame non-individual sanctions announced so far. The biggest Russian banks that make things happen as far as international trade (Sber, VTB, Gasprombank, Alfa) are still not sanctioned, Nord Stream 2 is not critical for the EU for now but the chances are it'll be up and running before the Ukraine gas pipeline deal expires in 2024.
So if current status quo remains the direct consequences for Thailand should not be that big of a deal. A temp hike in Oil/Gas prices and less Russian tourists due to RUB nuking.