I am very sad today about this . I didn't think it would happen again after WW2 I thought lessons had been learnt. Sanctions might work but how long will it take while Putin flattens Ukraine. ? Of course I am reluctant to back military action but if its inevitable perhaps it better sooner than later.?
I highly doubt sanctions will make any difference at all to the road Putin has embarked on. Russian public finances are strong, their foreign currency reserves are high and will grow for awhile yet., whilst the west has been fanning over what to do in the dispute, Russia's military have modernised and become a formidable fighting machine.
Taking Russia on head to head is not an option; Putin has the arsenal to do almost whatever he likes and is by all that we have said and heard from him,' prepared to use it' - if we interfere, this threat of unleashing atomic weapons shouldn't be dismissed.
He believes that he's fighting for Russian autonomy in a world where he thinks he's been and is being surrounded, most Russians support his actions and blame the EU/NATO for bringing them to this point. They see no other way.
Sanctions will affect the average Russian, it will not affect how the Russian government now behaves.
There is a real argument that applying the sanctions we have only made the Russian public finances and economy more robost - they haven't worked and the Russian people's ability to endure for "Mother Russia' as invoked by Putin, is legendary.
The new cold war, assuming we can stop it from turning hot, will now last at least as long as the last one, most especially as China have moved closer and closer to Russia and will now be supporting him, and it would not surprise me (despite what they might say to the World) that they too will look long at hard before 'reclaiming' Taiwan ....unless we are prepared to go into a hot war (that we cannot win), we have no choice but to end all economic co-operation (but I bet we don't)..