"Russia is meddling in western politics as it has nothing to lose."

The US and Europe could do various punishing things to Russia, if they were united. But what is really needed is not punishment of Russia, but rather to pressure Russia into stopping this meddling. However, there is no way to make a deal with Russia that includes stopping, because there is never clear proof that Russia is doing this. It is always a matter of surmise and probabilities.