Since this blog is about E.U. and U.S. affairs it shouldn't really be dealing with Russia, since I don't believe Russia is really part of Europe. There are differing views on this, but when one looks at what Europe has in common with Russia, it should be clear that Russia doesn't belong in the group of European countries alongside Denmark, Sweden, Britain, Germany, etc.
Therefore, some would argue that the sanctions imposed on Russia by the U.S. and the E.U. are justified. Russia has in effect been fighting a war with the Ukraine, only by proxy. Pro-Russian rebels may not be official partners with Russia, but it is clear that their interests are closely aligned. Which is why it can hardly come as a surprise that the rebels get arms, money, and other facilities directly from the Russians.
Unfortunately, until Mr Putin realizes that the sanctions being put in place by the West are not acts of agression but merely logical responses to Russia's violations of international law and order, odds are that the current situation is only going to escalate further. Self-reflection never has been Russia's favorite pasttime.