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Fear and Loathing in Moscow

Ruble tumbles as Ukraine tensions rumble

Fear and Loathing in Moscow

NEW YORK (RichTVX.com) — A kind of fear seems to come over the Russian stock market, a kind of stupefaction at the magnitude of the geopolitical tensions. The mighty Russian stock market colossus is tottering, but whilst the nations watch breathless for the crash. Approaching noon in Europe, the MOEX Russia Index had dropped around 7% and is now down more than 15% year-to-date, while the Russian Ruble fell to its weakest in more than a year to 78 rubles against the US dollar.

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The Russo-Ukrainian War

The Russo-Ukrainian War is an ongoing and protracted conflict that started in February 2014, primarily involving Russia and pro-Russian forces on one hand, and Ukraine on the other, supported by NATO and the European Union. The war has centered on the status of Crimea and parts of the Donbas, which are largely internationally recognized as part of Ukraine. Following the Euromaidan protests and the 22 February subsequent removal of Ukrainian President Viktor Yanukovych, and amidst pro-Russian unrest in Ukraine, Russian soldiers without insignias took control of strategic positions and infrastructure within the Ukrainian territory of Crimea. On 1 March 2014, the Federation Council of the Russian Federation unanimously adopted a resolution to petition Russian President Vladimir Putin to use military force in Ukraine. The resolution was adopted several days later, after the start of the Russian military operation on the “Returning of Crimea”. Russia then annexed Crimea after a widely criticized local referendum which was organized by Russia after the capturing of the Crimean Parliament in which the population of the Autonomous Republic of Crimea voted to join the Russian Federation. In April, demonstrations by pro-Russian groups in the Donbas area of Ukraine escalated into a war between the Ukrainian government and the Russian-backed separatist forces of the self-declared Donetsk and Luhansk People’s Republics. In August, Russian military vehicles crossed the border in several locations of Donetsk Oblast. The incursion by the Russian military was seen as responsible for the defeat of Ukrainian forces in early September.In November 2014, the Ukrainian military reported intensive movement of troops and equipments from Russia into the separatist-controlled parts of the eastern Ukraine. The Associated Press reported 40 unmarked military vehicles on the move in rebel-controlled areas. The Organization for Security and Co-operation in Europe (OSCE) Special Monitoring Mission observed convoys of heavy weapons and tanks in DPR-controlled territory without insignia. OSCE monitors further stated they observed vehicles transporting ammunition and soldiers’ dead bodies crossing the Russian-Ukrainian border under the guise of humanitarian aid convoys. As of early August 2015, OSCE observed over 21 such vehicles marked with the Russian military code for soldiers killed in action. According to The Moscow Times, Russia has tried to intimidate and silence human rights workers discussing Russian soldiers’ deaths in the conflict. OSCE has time and again reported that its observers were denied access to the areas controlled by “combined Russian-separatist forces”.The majority of members of the international community and organizations such as Amnesty International have condemned Russia for its actions in post-revolutionary Ukraine, accusing it of breaking international law and violating Ukrainian sovereignty. Many countries implemented economic sanctions against Russia, Russian individuals or companies.In October 2015, The Washington Post reported that Russia has redeployed some of its elite units from Ukraine to Syria to support Syrian President Bashar al-Assad. In December 2015, Russian Federation President Vladimir Putin admitted that Russian military intelligence officers were operating in Ukraine, insisting though that they were not the same as regular troops. As of February 2019, 7% of Ukraine’s territory is classified by the Ukrainian government as temporarily occupied territories.

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