Friday, March 21, 2014

On this cold, sharp day Vladimir Putin signed the formal annexation of Crimea; Ukraine's Prime Minister signed a trade agreement with the European Union, the same one that former, Russian-backed, Ukrainian president Viktor Yanukovych rejected in November, leading to the maidan protests, and the annexation of Crimea; the EU imposed economic sanctions on twelve Russian officials;  Barack Obama increased the number of Russians sanctioned by the US from seven to twenty and added a bank; Putin promised to open an account at the bank on Monday; a day after Russia sanctioned seven Americans in retaliation; a day after a Russian official openly mentioned "asymmetrical" retaliation, for example by not cooperating in the P5+1 negotiations with Iran; France as part of NATO sent four fighter jets to the Baltic area; British Prime Minister David Cameron said the European Commission would impose additional finance, military, and energy penalties on Russia; Russia's MICEX index lost 2% and is down 14% in 2014.