Crimea's Pro-Russia Vote Is Remarkable: Falkenrath

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March 17 (Bloomberg) -- Bloomberg Contributing Editor Richard Falkenrath and Bloomberg’s Ryan Chilcote update the latest news on the crisis in Ukraine. They speak on Bloomberg Television’s “Bloomberg Surveillance.”(Source: Bloomberg)

Confusion and lack of corporation by malaysia.

I want to stay on crimea.

With crimea it is the size of the vote.

The vote being overwhelmingly pro-russian.

I thought it would be closer.

What is the to do for the west?

Putin schedules they currency change, a time zone change.

The u.s. is leading the sanctions.

The european union is much more reluctant.

The asset freezes are against specific individuals associated with the coming annexation of crimea.

Why is it specific and not more general?

They are not ready to do that.

The economies are totally interdependent.

Europe needs the trade with russia and vice versa.

The united states has hardly any trade with russia.

We will have this through the hour.

Nicholas burns will join us in the next hour.

Continuing the conversation, talking about what the west will be doing, we are in brussels this morning.

What do you hear about how quickly some sanctions might be put into place?

Some sanctions will be announced today.

We expect the european union foreign ministers to freeze the assets of a number of russian officials and ban them from traveling within the european union.

What we don't expect our any economic sanctions.

Or even targeting any russian business leaders.

There has been a lot of speculation about that.

What do they expect the success rate to be?

We have seen sanctions work well with iran.

That had severe economic sanctions tied to it.

Yes, i think there is a feeling that should the european union ministers and leaders want to, they can do real damage to the russian economy.

There is no damage -- question about that.

There is a question about whether they can influence president putin's initiative or plan in the ukraine.

We could end up in some iran style sanctions if the european union were to move forward quickly.

Maybe that would not accomplish the goal that the european union wants and it would debilitate them as well.

You spent a good amount of time in kiev recently.

Were you surprised but the overwhelming majority on the vote?

Was kiev surprised?

Good question.

I was a bit surprised.

97% is a very big version of the voters, particularly when they are saying that 80% turned out for the vote.

The foreign minister made a valid point.

How can we believe the numbers?

I think that is a fair observation.

There was not a broad international presence of observers.

It is a well-known fact that the majority of ukrainians in crimea are ethnic russians.

Many of those want to join russia.

Maybe not all.

Then you have 25% of the population muslim ethnic people.

Then you have ukrainians themselves.

This comes as a bit of a surprise.

The foreign minister dispelled this.

He said, we never recognized this to begin with, why would we recognize the result?

That would give president putin the result.

This is what happened in kosovo.

This text has been automatically generated. It may not be 100% accurate.

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