The EU is not worried about Russia? From where on earth did you get this bizarre and obviously false view? Every Eastern EU country is extremely worried about Russia right now and NATO has sent reinforcements to them.
All of this taken together makes imposing heavy sanctions on Russia essentially inevitable. They are the only civilized response available, and not doing anything could have fatal consequences far beyond the EU. Governments across the world rightly realized now - unfortunately, too late - that the comparatively weak response to the 2014 annexation of Crimea has emboldened Putin to order a full-scale invasion of Ukraine. They will not repeat this mistake.
Edit: Looks like a consensus has been reached and Russia is about to get excluded from SWIFT.