So far, I haven't heard anyone dig into this:
http://en.ria.ru/...
(I don't know how to embed images so I'm just going with the URLs)
Europe uses a lot of Natural Gas. From Russia. Via pipeline through Ukraine.
Not so much through Crimea.
Look at that map (at the link). That explains a lot about why we have very little economic leverage against Russia, Because they can turn off the gas and Europe will freeze in the dark.
Check this map: http://blog.kievukraine.info/...
That network stretches all the way across Europe.
So, no war and no serious sanctions, Europe is too interconnected with Russia to play hardball.