I agree completely.

The US has been too free with sanctions handing them out like detention slips lately. Maybe it's time to remember sanctions are a two way street.

As for those who ask "how do we deal with Russia"? Well, for starters, how about we don't support those trying to overthrow a government on their borders? We wouldn't tolerate that in the US.

I'm not saying Russia is right nor their motives are pure. But neither are those of the West. And frankly, I think the western banking system could use a bit of competition.

What should be done about Putin and his neo-Soviet expansionism, then?

... and lead to massive losses of life. "UN Says Sanctions Have Killed Some 500,000 Iraqi Children" - http://www.commondreams.org/headlines/072100-03.htm

If other countries serve as an example, it could mean Putin remains in power for a very long time. War more or less likely? I don't know.

How do you suggest the world punish Russia for acting out?

Fulfill protection treaties. Either put "boots on the ground" or don't promise to in the first place.

Ukraine gave up deterrent weapons (world's 3rd largest nuke stockpile) on promise that the USA would fill the strategic power gap accordingly. Latter didn't, Russia doesn't care about mere "sanctions" in light of empire-building goals, there's only one thing that stops such "acting out".

The US meanwhile continued to expand NATO and attempted to box Russia in. Contrary to the agreements you mention.

Who exactly is building an empire here?

Boots on the ground probably will be the answer in the end. And when people see what it produces they may finally come to their senses.

Separate interests, perfectly and fairly satisfied, rarely favor everyone involved. NATO and Russian sovereignty & protection interests involve conflicting desire to control border areas, as both are suspicious of the intentions of the other. NATO having all but abandoned Ukraine, Russia is emboldened to re-take that buffer area, putting boots on the ground where answered only by rhetoric.

"The world" probably doesn't care about punishing Russia. That's the sort of thing that makes Republicans hard but the average guy on the street has bigger things to worry about.

Certainly, westerners being told they can't go on holiday to Russia or buy Russian made software or other things is not going to suddenly make the people in east Ukraine decide they actually love the unelected government they got landed with.