President Barack Obama walks from the Oval Office to speak on the Ukraine situation outside the White House July 21, 2014 in Washington, DC. - 

The European Union met on Tuesday to discuss the possibility of further sanctions on Russia after the downing of Malaysian Airlines flight MH17. The U.S. says a missile fired from separatist territory brought down the plane. Russia's defense ministry says it sees no evidence of a missile, and suggested Ukraine's military could be at fault. 

With tensions mounting, President Obama has called on the EU to take a bolder stance -- Britain, France, and Germany say they would be ready to increase sanctions against Russia, but reaching a concensus could prove difficult. Given a disputed delivery of a warship to Moscow from France, some point out that stronger actions, not words, are needed.

Click the media player above to hear BBC Economics Correspondent Andrew Walker in conversation with Marketplace Morning Report host David Brancaccio.

Follow David Brancaccio at @DavidBrancaccio