March 28: Sanctions & Stocks

By Derek On March 28, 2014 Under Uncategorized

“It is even better to act quickly and err than to hesitate until the time of action is past.”Clausewitz

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Things are changing quickly on the ground. As we expected (EMI: Ukraine – Flash!), Russia has successfully held a referendum in Crimea and no surprise – it passed with overwhelming support. Uncharacteristically, Russia is moving incredibly fast to integrate Crimea into the Russian Federation. This week Crimea’s time zone leaps ahead two hours to match Moscow and the week after that the economy will be “ruble-ized.” Local prices are likely to rise as a result but Moscow, beginning in April, will be doubling pensions and cutting petrol prices in half. Residents are already receiving their Russian passports. Two-thirds of Ukraine’s Crimea-based armed forces have decided to join Russia’s military. Thanks to better pay and benefits not many are protesting.

 

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