The European Union is slapping economic sanctions on another twelve individuals in Russia.  This came a few hours after US President Barack Obama announced sanctions on close allies and aides of Russian President Vladimir Putin, as well as a large Russian bank.

Mr. Obama has now imposed sanctions on 31 of some of Russia’s wealthiest and most powerful people since Vladimir Putin sent in the troops to seize Ukraine’s Crimean Peninsula.  And he signed a new executive order that clears the way for the US to impose sanctions against broad sections of the Russian economy – should Putin's military make moves beyond Crimea and into southern and eastern Ukraine.

In a tit-for-tat response, Moscow banned nine American officials from entering Russia – these include the Speaker of the House of Representatives John A. Boehner, Senate Majority Leader Harry Reid; hawkish Senator John McCain of Arizona; and three senior White House officials.  It’s highly unlikely that any of them were doing business with or planning to go to Russia. 

In Moscow, the Duma advanced the treaty to formally annex Crimea.  Meanwhile, United Nations Secretary General Ban Ki-Moon met with President Vladimir Putin, trying to put some brakes on this situation.

“I was profoundly concerned by the recent incident where Ukrainian military bases were taken over,” said Ban, “It is at moments like this in history that a small incident can quickly lead to a situation spiraling out of anyone’s control.”

Back in Crimea, pro-Russian military seized 20 Ukrainian Navy ships docked at Sevastopol leaving only one under the control of its Ukrainian crew.  They are silently waiting for the Russians to storm their boat, too.