I think that invading a country in this day and age is a pretty fucked up thing to do.  Ukraine seemingly did nothing to deserve this, other than be friends with people that Russia doesn't want near their borders. 

I don't think this will start World War III, but I do have concerns about what China is up to as the world turns it's eyes toward Russia.  There are already reports about Chinese planes flying in Taiwan airspace.  I don't think China invading Taiwan is enough to start WWIIII either, but it certainly doesn't bode well for peace.  However, since Democrats are currently in control of the White House and media, I doubt you'll be hearing much about their China darlings.

The EU seems like it's going to be heavy handed on Russia with sanctions, but I worry about what recourse there will be for China and how that will play out.