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William Hague: "This will turn out, over time, to be quite a big miscalculation"
Russia has made a "big miscalculation" in entering Crimea, UK Foreign Secretary William Hague has warned.
He told the BBC that Western countries could impose "far-reaching" economic sanctions if no diplomatic solution was reached between Russia and Ukraine.
Mr Hague also said European countries could reduce energy supplies from Russia and import more gas from the US.
He ruled out military action against Russia but said there was a danger of a "real shooting conflict" over Crimea.
Russians living in the UK legally would not be affected by any action taken, he said.
'Ridiculously quick'In Ukraine, thousands of people have been taking part in pro- or anti-Russian rallies.
Violence erupted at one pro-Ukrainian demonstration in Sevastopol in Crimea, when ethnic Russians attacked some of the protesters.
Mr Hague told BBC One's Andrew Marr Show he would be speaking to his US counterpart, John Kerry, later on Sunday.
This follows a US warning to Russia that any moves to annex Crimea would close the door to diplomacy.
Moscow has been tightening its military grip on the Crimean peninsula, and the pro-Russian authorities there have called a 16 March referendum to ask residents whether they want to secede from Ukraine and join Russia.
End Quote Ed Davey, Energy SecretaryOur security of supply in gas - people shouldn't be worried about that"
Mr Hague said this was happening "ridiculously quickly", adding: "The world will not be able to regard that as free or fair."
He also said: "I think it would be wrong to think Russia has won in some sense. I think this will turn out over time to be quite a big miscalculation."
Moscow has denied sending soldiers to Crimea, but Mr Hague said: "There clearly are Russian troops in Crimea. There are people with Russian equipment who don't have the insignia necessarily, but there are... All the evidence is that they are. There is no plausible explanation of where else they have come from."
Last week, the European Union suspended talks with Moscow on setting up visa-free travel for Russians in Europe.
Mr Hague said: "I think [the Russians] do care about the international reaction to what they've done. The reaction is strong."
He warned of possible visa freezes and travel bans, which would "be taken very seriously by the individuals concerned".
Mr Hague said: "There would be far-reaching trade and economic consequences."
A lack of diplomatic progress would "bring the real danger of a real shooting conflict".
Asked about the security of EU gas supplies if further sanctions against Russia went ahead, Mr Hague said: "This is now beginning to be discussed between European politicians, including ourselves, and Americans."
He added: "There is clearly an increased case for American gas exports to Europe."
Mr Hague said he had visited Baku in Azerbaijan in December for the inauguration of a new pipeline "that will now take several years to construct - from the Caspian Sea into southern Europe, bringing gas supplies which do not pass through Russia and do not come from Russia".
"The case for such developments will increase now," he said.
'Very secure'Energy Secretary Ed Davey told The Andrew Marr Show that the UK had "very secure supplies" of natural gas from the North Sea via pipelines from Norway, and liquefied natural gas delivered by ships.
"Our security of supply in gas - people shouldn't be worried about that," he said.
But Mr Davey said: "If there was an escalation, if we saw military conflict, if that conflict went on for months and months and months, there could be an impact on prices."
Russia supplies about 1% of the UK's gas but up to a third of the amount reaching some EU countries, including Germany.
For Labour, shadow foreign secretary Douglas Alexander welcomed Mr Hague's comments, agreeing that "all economic and diplomatic options should remain on the table".
He added: "It is also vital that the UK, along with EU allies, sets out a clear timetable for taking further economic and financial measures if Russia fails to change course in the days ahead."
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