What we’re reading (2/23)
“Putin Goes To War In Ukraine” (The Economist). “Russia was not threatened by NATO or Ukraine. Its invasion of the sovereign state next door is a war of choice, conjured out of nothing by Mr Putin. History will judge him harshly. If, after a rapid advance, Russia is drawn into a long-lasting partisan war, so will the Russian people.”
“Russian Military Operation in Ukraine Roils Markets” (Wall Street Journal). “Investors rushed for safety, pushing down stocks and lifting the prices of oil, gold and government bonds, after Russia launched a military operation in Ukraine and a Ukrainian official said, ‘The invasion has begun.’”
“How Markets Are Thinking About The Ukraine Battle Lines” (DealBook). “Energy markets are on edge. Crude oil futures are down slightly from yesterday, given that the initial round of sanctions didn’t directly hit Russian energy producers, aside from Germany pausing certification of a major gas pipeline. But oil remains near $100 a barrel, reflecting fears that a prolonged crisis could damage the global supply; analysts say oil could easily rise another $20 a barrel, reaching levels last seen a decade ago. (It’s worth noting that roughly one in 12 barrels that the U.S. imports comes from Russia.)”
“Oil Hits $100, US Stock Futures Slide After Putin Announces Military Operation In Donbas” (CNN Business). “Brent crude oil hit $100 a barrel and stock futures fell sharply late Wednesday after blasts were heard in Ukraine and Russian President Vladimir Putin announced a military operation in Donbas.”
“Ukraine Conflict: President Zelensky Warns Russia: We Will Defend Ourselves” (BBC). “‘As you attack, it will be our faces you see, not our backs,’ the Ukrainian president said.”
