Obama: Putin is fooling nobody March 4, 2014 BARACK Obama issued a stark message to President Putin yesterday, warning that Russia’s attempts to legitimise military intervention in Crimea are fooling nobody. The US President all-but accused Putin of violating international law, while US secretary of state John Kerry reiterated the threat of economic sanctions against the country if Putin does not withdraw his [...]
Gazprom cancels discount on gas supply for Ukraine March 4, 2014 RUSSIAN-state owned utility Gazprom will strip Ukraine of its discount for gas prices from April, it said yesterday, as chief executive Alexey Miller claimed the country owes debts of $1.529bn (£920m) to his company. Gazprom says it has not received payments for gas sent in January, adding to huge debts accumulated debt over the past [...]
Companies are spooked by volatile Ukraine March 4, 2014 GLOBAL companies are watching developments in Ukraine nervously, as markets react with uncertainty to the standoff between Russia, Ukraine and the rest of the world. Yesterday car manufacturer Renault scaled back its growth forecast to just under two per cent, citing volatility in emerging markets. The warning comes despite the car market picking up across [...]
London Report: FTSE reverses losses as crisis in Crimea eases March 4, 2014 THE UK’S top share index rebounded from two-week lows yesterday, recouping its losses in the previous session, with the perception that tensions between Russia and Ukraine were easing and robust earnings boosting investors’ risk appetite. However, investors remained cautious in placing strong bets on the sustainability of the share rally, given that Russia and the [...]
How the West should best the crumbling Kremlin March 4, 2014 AN UNLIKELY source holds the key to how the West should respond to Russia’s takeover of the Crimea. While researching for my book Ethical Realism (which I co-wrote with the rightly celebrated Anatol Lieven), I came across a startling fact. Reinhold Niebuhr, one of the US’s best-known twentieth-century political thinkers, was also the author of [...]
The poll that shows not one majority in any Ukrainian region favours joining Russia March 4, 2014 Russia’s incursion into Crimea has so far been justified on the grounds of protecting those citizens of Russian descent and Russian speakers. On Monday, Russian foreign minister Sergey Lavrov, at UN meetings in Geneva, said “this is a question of defending our citizens and compatriots, ensuring human rights, especially the right to life.” However, these [...]
3 things Putin probably hadn’t bargained for March 4, 2014 It seems Vladimir Putin, upon whom everyone’s been keeping more than half an eye, is backing off. Following the beating the Russian stock market and currency took yesterday, the Russian leader's been speaking at a news conference. He told reporters this morning that there’s no – current – need for military force in Ukraine, that [...]
What you need to know before the US open March 4, 2014 US stock futures have rallied, following open markets that are responding to the cooling situation between Russia and Ukraine. The US has said it’ll provide $1bn in loan guarantees to Ukraine, to help restore financial stability. The Treasury will also send “technical advisers” to help the country in its negotiations with the International Monetary Fund. [...]
How Ukraine’s unrest will affect prime London property prices March 4, 2014 World shares, particularly in banks, insurers, miners and energy stocks, have been hit as a result of the political tension and unrest in Ukraine. But what would be the cost of an economic fallout or any potential sanctions by the West against Russia have on the London property market? Joshua Raymond, chief market strategist of [...]
UK exposure to Ukraine crisis extremely limited March 4, 2014 The UK is facing only limited exposure to the crisis in Ukraine, according to a note from London-based consultancy Capital Economics. The UK's direct trade with Ukraine is close to insignificant, with UK exports to Ukraine amounting to just 0.2 per cent of the total in 2012. UK banks' are also relatively safe from exposure [...]