The West is threatening further sanctions should Russia proceed with the formal annexation of Crimea. There is no need. The crisis has already cost Russia $187 billion so far and almost certainly wrecked any chance of economic growth this year. And the impact of the crisis could do roughly $440 billion worth of damage over the whole year – and that is before the West inflicts a single cent's worth of sanctions, according to bne's (very rough) estimates.
Read more here.
