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18 Mar 2014
Putin notifies parliament to approve Crimea's accession to Russia
FXStreet (Łódź) - The EU and the US announced more sanctions against Russia yesterday, after Crimea voted in favor of joining the Russian Federation on Sunday, while Ukraine is preparing for Moscow's further aggressive moves. Vladimir Putin has ordered the Crimea accession accord to be approved and will speak before an assembly of both houses of parliament and regional leaders on the situation today.
Increased military movements the area
Although Russia’s Foreign Minister Sergei Lavrov assured that there were no plans for military intervention in other parts of Ukraine, Moscow continues to signal its readiness to “defend the rights” of Russian-speaking Ukrainians from the southern and eastern regions. Kiev on the other hand believes an invasion is imminent and has already created 60,000 a strong National Guard, approving additionally on Monday the mobilization of 40,000 reservists.
Ihor Tenyuhk, Ukraine’s acting Defence Minister said: “Nobody in the world recognized this referendum. Its legitimacy is zero. The Crimean land has been and stays Ukrainian. The military have been there and will stay there. All issues have to be solved on a political level. We are not going to abandon our soldiers. We have direct communication with them. They know how to act and I think we will win.”
Over the weekend the US sent twelve F-16 fighter aircraft to Poland for bi-lateral training, while Russia deployed warplanes and military transport jets to Belarus, apparently as a response to the increased NATO activity near the Belorussian border. Meanwhile, Turkey warned that it would blockade the Bosphorus Strait if Crimean Tartars were threatened by the Russian forces on the peninsula.
Japan joins US and EU in sanctions against Russia
Following in the footsteps of the EU and the US, Japan announced yesterday that it did not recognize the outcome of the Crimea referendum and that it would also impose sanctions on Russia. These include the suspension of negotiations on easing visa requirements, on investment cooperation and joint space exploration.
Russia meanwhile admitted on Monday that its economy was in dire straits, with Deputy Economy Minister Sergei Belyakov suggesting at a business conference that "the economic situation shows clear signs of a crisis.” Still, he did not say that it could be the effect of the conflict with Ukraine.
Even though until now Russian officials were dismissing EU and US sanctions as unable to do substantial harm to the economy, many economists expect a recession taking hold in the country in the second and third quarter of 2014.
Increased military movements the area
Although Russia’s Foreign Minister Sergei Lavrov assured that there were no plans for military intervention in other parts of Ukraine, Moscow continues to signal its readiness to “defend the rights” of Russian-speaking Ukrainians from the southern and eastern regions. Kiev on the other hand believes an invasion is imminent and has already created 60,000 a strong National Guard, approving additionally on Monday the mobilization of 40,000 reservists.
Ihor Tenyuhk, Ukraine’s acting Defence Minister said: “Nobody in the world recognized this referendum. Its legitimacy is zero. The Crimean land has been and stays Ukrainian. The military have been there and will stay there. All issues have to be solved on a political level. We are not going to abandon our soldiers. We have direct communication with them. They know how to act and I think we will win.”
Over the weekend the US sent twelve F-16 fighter aircraft to Poland for bi-lateral training, while Russia deployed warplanes and military transport jets to Belarus, apparently as a response to the increased NATO activity near the Belorussian border. Meanwhile, Turkey warned that it would blockade the Bosphorus Strait if Crimean Tartars were threatened by the Russian forces on the peninsula.
Japan joins US and EU in sanctions against Russia
Following in the footsteps of the EU and the US, Japan announced yesterday that it did not recognize the outcome of the Crimea referendum and that it would also impose sanctions on Russia. These include the suspension of negotiations on easing visa requirements, on investment cooperation and joint space exploration.
Russia meanwhile admitted on Monday that its economy was in dire straits, with Deputy Economy Minister Sergei Belyakov suggesting at a business conference that "the economic situation shows clear signs of a crisis.” Still, he did not say that it could be the effect of the conflict with Ukraine.
Even though until now Russian officials were dismissing EU and US sanctions as unable to do substantial harm to the economy, many economists expect a recession taking hold in the country in the second and third quarter of 2014.