Financial Markets dropped sharply today after Ukraine’s president confirmed that his country’s forces destroyed Russian military vehicles on Ukrainian territory.
Ukraine’s statement comes after NATO confirmed what it called “an incursion” of Russian vehicles into Ukrainian territory overnight. Russia denied sending any force into Ukraine, saying that its forces were only patrolling the border.
But Britain said it had summoned Russian ambassador Alexander Yakovenko over the reports of a Russian military invasion into sovereign Ukrainian territory.
The news pushed up energy prices and sent Wall Street and financial markets in Europe plummeting, with Germany’s DAX dropping sharply, to close down by 1.4 percent.
Here & Now contributor Jim Walsh discusses the situation with host Jeremy Hobson.
- Jim Walsh, expert in international security at MIT’s Security Studies Program. He tweets@DrJimWalshMIT.