While there has been some economic fallout for Russia this is likely to only be temporary, as the risk of actual conflict goes away the markets will return to normal. There is almost no chance that there will be any sanctions that do real damage because much of Europe is dependent on Russia for gas; Germany gets around 39% of its gas from Russia, and this accounts for almost 9% of its energy consumption and other smaller economies in Eastern Europe are even more dependent. [1] Impose sanctions and Russia could squeeze gas supplies.  [1] Ratner, Michael et al., ‘Europe’s Energy Security: Options and Challenges to Natural Gas Supply Diversification’, Congressional Research Service, 20 August 2013, p.10