Dr Alf is right, the ratcheting up of sanctions will produce a new Cold War and tip most of Europe back into recession. It is by no means certain that the sanctions on either side would work or create any particular advantage for anyone other than armaments firms, investors in defence stocks and the bankers who provide companies like Raytheon, Gruman,the Carlyle Group and BAE Defence systems with money.
It might be good for those interested in buying gold and for those involved in its sale.
Other than that, it is going to mean costlier foods, more expensive airline travel, higher fuel prices, greater unemployment and misery.
This is how it will be for the bulk of ordinary people, who always get the short end of the stick.
Should things turn ugly with say the annexation of Eastern Ukraine, the result will be deaths in the ensuing war and occupation, global uncertainty about the future, and China and the rest of the BRICS increasingly wanting to do their own thing and get progressively out of the Dollar.
How any of this is in our collective interests I fail to see but I am willing to be enlightened.