Putin Moves Towards Annexing Crimea

President Vladimir Putin informs Parliament formally of Crimea's request to join Russia and approves a draft bill on absorbing the Peninsula

The European Union and the U.S. have begun imposing sanctions on Russian and Ukrainaian individuals , following the disputed referendum in Crimea , but as the diplomatic crisis intensifies , further economic action looks likely

Now following the Crimean referendum on March 16th , the EU and U.S. have carried out their threat to  target individual Russians and Ukrainians

The U.S. ordered the freezing of assets ans travel bans on 11 individuals , while the EU imposed such sanctions on 21 people

Political leaders on both sides of the  Atlantic have made it clear , that further action will follow , especially if Russia proceeds with the formal annexation of Crimea

The EU and U.S. could seek to isolate Russia by severing diplomatic links and military diologue

Another option might be to attempt to remove Russia from international bodies such as the World Trade Organization , international Monetary Fund , or World Bank

If specific firms were targeted  for such sanction , then the state owned energy giant   Gazprom would probably be high on the list