This week, world leaders have been slapping Russia with sanctions over its incursion into

Ukraine.

In the days after Russian President Vladimir Putin declared two Ukrainian regions independent

and ordered Russian troops into those areas, the condemnations and sanctions have come

on fast.

This is a flagrant violation of international law and demands a firm response from international

community.

Australians will always stand up to police and we will be standing up to Russia.

This is the first tranche, the first barrage of what we are prepared to do.

World leaders have warned that this is just the start.

If Putin goes further, they've promised even tougher consequences, including sanctions

that would significantly cut Russia off from the world economy.

This basically puts Russia in the position of possibly becoming an international pariah.

Russia is going to become extremely isolated.

But even those bigger sanctions might not be enough to avert all-out war in Ukraine.

Russia has not listened in the past.

Russia has actually dismissed the U.S. and the West attempts to talk it down.

So there is no telling what might happen.

Welcome to the journal, our show about money, business and power.

I'm Ryan Knutson.

It's Wednesday, February 23rd.

Coming up on the show, the sanctions that could be coming for Russia and how Vladimir Putin

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