V picked up on the Obama Fantasy aspect of the Ukraine crisis earlier; consider this part 2.
President Obama thinks he can hit Russia with economic sanctions but, as they did last summer in the Syria crisis, Britain is siding with Russia for practical purposes.
Of course the Telegraph article tries to make it sound nice, in the lede:
Britain is preparing to rule out trade sanctions against Russia amid fears that the Ukraine crisis could derail the global economic recovery.
Further down is the truth:
…the capacity of European leaders to react decisively has been hampered by the dependence of much of the European Union on Russian oil and gas…
On Monday, Mr Obama…said he had warned Russia that if it continued on its “current trajectory”, it would face “a whole series” of economic and diplomatic steps that would leave it isolated.
However, there was little sign that the increased pressure was doing anything to deter Mr Putin…
It is not a foregone conclusion that Russia is the one facing isolation. This is a measure of how much American influence has been lost on Obama’s watch.