If Romney were in power, we would have declared Russia a terrorist state and slapped sanctions similar to what Iran and North Korea have on it right now. We would have also engaged in a massive arms buildup in Eastern Europe and sent in special forces to help the Ukrainians. We would also have given the Israelis a free hand in dealing with Hamas. And, finally, we would be building up our forces in the Eastern Pacific to hold China at bay.
Finally, the sanctions would not only be slapped on Russia, but also on Belarus, Kazakhstan, and other CIS states.