Apart from lots of political talking and perhaps even deeper economic sanctions, there is no appetite in the west to do a single thing about Russian involvement in the Ukraine. We will stand back and merely watch the proceedings play out in due course. The more interesting question that should be debated now is what will we (NATO) do if Russia invades the Ukraine totally and ends up with a large concentration of force right up to the NATO border.
Back to a cold war posture perhaps, or will Europe continue to slash and burn on defence spending and rely on hope that Russian ambitions end with the Ukraine?