Russian president Vladimir Putin later today is expected to address a joint session of parliament about the Ukraine crisis, and the economic sanctions they’ve brought upon Moscow.  On Monday, Putin signed a decree recognizing the Crimea region as a sovereign state, a day after Crimea passed a referendum to break away from Kiev to join the Russian Federation.

The move brought instant reprisals from Moscow and Brussels.  The European Union froze the assets of 21 people in Russia and Crimea, and banned them from traveling to the EU.  US President Barack Obama slapped sanctions on 7 Russian and four Crimean officials blamed for Russia’s military presence in Crimea.  Included are deposed Ukrainian president Viktor Yanukovich, and Russian presidential aides Vladislav Surkov and Sergei Glazyev.

“It’s a big honor for me.  I don’t have accounts abroad.  The only things that interest me in the US are Tupac Shakur, Allen Ginsberg, and Jackson Pollock.  I don’t need a visa to access their work.  I lose nothing,” taunted former Deputy Prime Minister Vladislav Surkov.  Others were equally dismissive.

But this round of sanctions is likely just the “first set”, as Czech Foreign Minister Lubomir Zaoralek said.  And President Obama has signed an order that makes it easier for him to order further sanctions without having to ask for congress’ permission.