Tom Keatinge discusses sanctions on Russia on BBC Newsnight

I think we have to prepare ourselves for negative consequences, whether it's turmoil in the market, whether it's reduction in value of people's pension pots, whether it's lack of access to energy, whatever it might be we have to be prepared to take those hits if we want to be credible in our threats, and at the moment the talk is very strong from the Foreign Secretary, from others in the US Administration, the talk is strong but as we've seen before action does not necessarily follow strong words in the way you might think."