The Obama Administration has assembled a team that is working full time on preparing anti-Russia measures, and the team is said to be convinced the US is capable of “badly damaging the Russian economy.”
President Obama is determined to move against Russia and administration hawks counsel moving as quickly and harshly as he can possibly muster, and he and Vice President Joe Biden have been courting nations around the world that might go along with demands to seize Russian assets or sever business ties with them.
Other officials within the administration, particularly those actually involved with economic policy, warn the move is liable to alienate allies who are harmed by the measures, and could provoke a cycle of tit-for-tat retaliation.
The European Union seems broadly split on the issue, with British Prime Minister David Cameron insisting he doesn’t care how much damage sanctions do to his own capital city of London so long as they can stick it to the Russians. Germany, on the other hand, has noted that they and much of central Europe are dependent on Russia for energy purchases, and aren’t willing to see their entire economy crippled by shortages just to spite Russia.