One thing I'd flag is that, ironically, Ukraine is the country that's already been buffeted by the indirect effects of what's been going on. For example, the government's had to pony up $600 million in an insurance fund because airlines were reluctant to fly into airspace because of the threat of conflict. Even though everybody's talking about sanctioning Russia, in fact it's Ukraine that's been hit first by the indirect impact.
There is still trade between Russia and Ukraine. It is primarily in the energy sector. Ukraine has reduced its trade with Russia by about three-quarters. A lot of that's been redirected to the European Union, with which they have a very active free trade agreement.
Will Russia's sanctions have an impact? They will, but not half the impact that Russia's overall boa constrictor-like trade policy approach to Ukraine is having right now.