Ukrainian Conflict Grows As Kiev Claims To Have Destroyed Russian Military Vehicles in Ukraine

convoyU.S. stock indices are under selling pressure on Friday following reports from Kiev claiming that Ukraine’s military shot down Russian military vehicles that illegally entered Ukraine yesterday.

Journalists from the Guardian and  Daily Telegraph reported Thursday night that they witnessed 23 armed personnel carriers enter Ukraine supported by military support vehicles.

The Guardian reported that  Russian military personnel entered through a gap in a wire near the village of Severny in Ukraine.

Moscow has denied these reports and accused Kiev of interfering with aid relief deliveries that Ukraine is cautious to accept, believing that Russia may be using humanitarian relief support as a pretext for its military to enter Ukraine and seize control of the region which is already destabilized by pro-Russian separatists that have seized control over parts of eastern Ukraine.

Russia annexed Crimea earlier in the spring after sending in masked Russian soldiers wearing no identifiable insignia and then later claiming that they were supporting the rights of ethnic Russians living in Crimea.

The United States and European Union have already slapped sanctions on Russia for its actions in Crimea and role in supporting the separatists in eastern Ukraine.

After the downing of a Malaysian Airlines in mid-July in an area controlled by separatists, the EU has been more steadfast and unified by imposing tougher sanctions on Moscow.

On July 31st, the European Union formally adopted some additional restrictive sanctions against Russia that includes limiting access to EU primary and secondary capital markets for Russian state-owned financial institutions. Some of the other restrictive measures includes the following:

  • imposing an embargo on trade in arms
  • establishing an export ban for dual use goods for military end users
  • curtailing Russian access to certain sensitive technologies that can be used for oil production and exploration

-Johnathan Schweitzer



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