By John Thornhill
© The Financial Times Ltd 2014 FT and 'Financial Times' are trademarks of The Financial Times Ltd.
The international crisis over
Russian troops are in effective control of many parts of the Ukrainian region of Crimea and the United States is threatening Russia with isolation if it doesn’t back down. In this week’s podcast, Gideon Rachman is joined by Neil Buckley, East Europe editor and chief US commentator Edward Luce to discuss how this dangerous situation is likely to develop.
As diplomatic discussions with Russia get underway, the fate of Crimea looms large. An obvious question is whether the west could or should accept the de-facto annexation of Crimea by Russia. Beyond simple appeasement of Russia, the argument to do this would be that Crimea has long been an oddity in Ukraine. It was part of Russia, until it was gifted to Ukraine by Kruschev in the 1950s. It is the only bit of Ukraine that has a Russian-speaking majority. Why not just hand it over? Read more
The stand-off continues. The ultimatum, reportedly given by Russia to Ukrainian military forces in Crimea to surrender by 5am (3am GMT), passed without incident. Russian President Vladimir Putin has given a press conference in which he stepped back from the brink of confrontation but insisted Viktor Yanukovich was toppled in an “unconstitutional coup”. The US continues to press for full withdrawal of Moscow’s troops from Ukrainian territory. Global equities traded higher and haven assets retreated as markets reacted with relief to an apparent easing of tensions.
By Shannon Bond, John Aglionby and Amie Tsang with FT correspondents around the world
My brother has a small Chinese vase standing on his mantle – an antique that tells us something about Russia‘s centuries-old techniques for imposing its will on weaker neighbours.
The vase is a small remnant of what had been a much grander set of pottery originally given to Russia’s Catherine the Great by the Chinese emperor, and then handed to my ancestor, Szczesny Potocki, in return for his services. Read more
The stand-off between Russia and the G7 over Moscow’s intervention in the Ukrainian region of Crimea continued on Monday. Financial markets reacted sharply to developments: fears of a war wiped a tenth off the value of Moscow’s stock exchange, sent the rouble tumbling to an all-time low and pushed up the price of commodities. At the UN in New York, the security council meeting turned into a showdown between Russia and several other nations, including the US and UK, which strongly condemned its incursion on Ukraine’s territorial integrity. And tensions were high in Crimea where it was reported Russia had given Ukrainian military forces an ultimatum to surrender.
By John Aglionby and Leyla Boulton in London, Shannon Bond in New York and FT correspondents around the world
By Gideon Rachman
When the Soviet Union invaded Czechoslovakia in 1968, the Moscow stock market did not crash. That is because there was no Moscow stock market. By contrast, the news that Russian troops have taken effective control of Crimea was greeted, on Monday, by a 10 per cent collapse in shares on the Russian market.
Vladimir’s Putin’s decision to send Russian troops into Ukraine and seize control of Crimea has thrown the spotlight onto the peninsula.
Located on the northern coast of the Black Sea, Crimea has strong historical and cultural ties with Russia. It was Russian territory until 60 years ago, and one of the pretexts for Russia’s military invasion has been to defend its citizens and interests in Ukraine, especially in Crimea.
♦ Western military experts suspect Russia of plotting its action in Crimea for weeks.
♦ Politico suggests that Russia no longer fears the west , and outlines why.
Crimea and a cash shortage take centre stage in Ukraine
Viktor Yanukovich has fled the scene of last week’s brutal crackdown on protests, but Ukraine still faces real danger from separatist tensions that could spiral into violence and the threat of financial meltdown. Ben Hall is joined over the phone by Neil Buckley, Eastern Europe editor, in Kiev, and Kathrin Hille, Moscow bureau chief, to discuss Russia’s sabre-rattling, pro-Russian sentiment in Crimea and whether western capitals can come up with a financial lifeline for Ukraine.
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Commentary on international affairs, with Gideon Rachman and his colleagues