What might the Ukraine crisis mean for academia?

As I write this the Ukraine crisis is deepening.

Russian president Putin recognized two separatist, self-declared statelets in eastern Ukraine, then sent armed forces into them. In response the European Union and Great Britain announced sanctions, followed by the United States. The German government halted its approval of Russia’s Nordstream-2 pipeline. According to US president Biden, Putin will use this step as a launching point for invading other Ukrainian territories.