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Visa restrictions have been imposed on Russia by the EU and US over Moscow's actions in Ukraine. They've also threatened financial sanctions unless Russia agrees to talks with Ukraine to resolve the crisis in Crimea. Alexander Nekrassov, a former adviser to President Vladimir Putin and the Kremlin, tells us why he thinks the threat of economic sanctions are "just words", and warns of retaliation from Russia.

Bill Browder, chief executive and founder of the hedge fund Hermitage Capital Management with a long history of investing in Russia, tells us why the West needs to take action. And we discuss with Sir Jeremy Greenstock, Britain's ambassador to the United Nations between 1998 and 2003, whether economic sanctions are ever effective in forcing change.