Ok, Ukraine. The Russians just seized another Ukraine base in Crimea. Market not fussed.
They have the Crimea referendum on March 16th. Lets say they vote to join Russia. What then? Do Russia annex it and call it theirs? What will Ukraine do? Everyone is saying they won’t recognise it. Russia will though….
Inbetween then and now…. I suspect the Yanks and EU will start loading up sanctions and the like on Russia, which will irritate Putin further.
I am amazed the market is staying at highs and making new ones given the possibilities here.