With a breezy sweep of his pen President Vladimir Putin wrote a new chapter into Crimea’s turbulent history, committing the region to a future returned to Russian domain.

Sixty years prior, Ukraine’s breakaway peninsula was signed away just as swiftly by Soviet leader Nikita Khrushchev.

But dealing with such a blatant land grab on its eastern flank won’t be anywhere near as quick and easy for Europe’s 28-member union.

Because, unlike Crimea’s rushed referendum, everyone has a say.

After initially slapping visa restrictions and asset freezes on a limited number of little known politicians and military men, Europe is facing urgent calls to widen the scope of its measures to target the Russian business community in particular.

The logic of this is that those who run Russia and own it are essentially two sides of the coin.

Alexei Navalny, one-time Moscow mayoral contender now under house arrest for opposing the current regime, called for Europe’s leaders to ban everyone — from Vladimir Putin’s personal banker to Chelsea Football Club owner Roman Abramovich from keeping their money and loved ones abroad.

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