Over the past week, Russia has reinforced its military presence on the Crimean peninsula, moved military units close to the Russia-Ukraine border and announced military “readiness checks.” Most likely, this is just a ploy to unnerve the government in Kyiv and test the West’s reaction.

But it could be something worse. If the Kremlin is weighing the costs and benefits of a military assault on Ukraine, Europe and the United States should ensure that Moscow does not miscalculate because it underestimates the costs.

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