Russian troops near the Ukrainian border will return to its permanent bases after completing its military exercises, Russia's Foreign Minister Sergei Lavrov has said, calling for a "de-escalation" of rhetoric.
Former Belgian prime minister Guy Verhofstadt, a candidate to be the next European Commission president, said Russia "laughed" at the scope of the first set of EU sanctions and called for a much tougher line.
He said:
An unusually frank Nato Secretary General issued an unequivocal warning on the course of events should Russia attack Latvia or Estonia.
The West responds with sanctions and closer political ties with Ukraine as Russia's President seals the annexing of Crimea to much fanfare.
Supporters of the controversial fracking industry believe shale gas could be America's most potent weapon in the stand-off with Russia.