Yes, this is already happening since last year, and was already scheduled to be expanded for a fourth time in June. I assume this clinches that, and probably more.
But the fact nobody seems to know there's been sanctions since last year suggests my other point - they're woefully ineffective as long as they can get other support.
NATO is a military alliance, not a trade union. There's no way for them to organize what you're suggesting.
> It would take a week.
Fidel might like to have a word with you...
My point is: There's a lot of people in this thread demanding a vague "something" be done, but it's really not clear whether there is "something" between what the EU's plan has already been for months and a hot war, other than some ill-considered immediate panic.
Traditionally a next step would be political, then material, support for an organized internal opposition, but there doesn't seem to be an obvious one in this case.