Ukraine

The Ukraine invasion is good news for Wall Street

Don’t be fooled by the pictures that will shortly start to emerge of traders apparently tearing their hair out against of backdrop of red screens. A proper crisis is exactly what Wall Street traders want — to provoke yet another stimulus package, as well as the cancellation of interest rate rises. In the Alice in Wonderland world of bubblenomics, bad news is good, and good news is bad. If we have good economic figures, there is a danger that the Fed, the Bank of England and other central banks will take away the punch bowl. On the other hand, all we need is a sudden crisis that gives the impression,

Head of Germany’s army admits: we’re not ready for war

You wake up in the morning and realise: there is war in Europe. Yesterday the army held a ‘Day of Values’. The core question was ‘what do we serve for?’ It has never been easier to explain this to the generation that did not live through the Cold War. In my 41st year of peacetime service I would not have believed that I would have to experience another war. And the Bundeswehr, the army that I am privileged to lead, is more or less empty handed. The policy options we can offer in support of the alliance are extremely limited. We all saw it coming and we were not able

Read: The Prime Minister’s address to the nation as Russia invades Ukraine

Shortly after 4 o’clock this morning I spoke to President Zelensky of Ukraine to offer the continued support of the UK, because our worst fears have now come true and all our warnings have proved tragically accurate President Putin of Russia has unleashed war in our European continent. He has attacked a friendly country without any provocation and without any credible excuse. Innumerable missiles and bombs have been raining down on an entirely innocent population. A vast invasion is underway — by land, by sea, and by air. And this is not, in the infamous phrase, some faraway country of which we know little. We have Ukrainian friends in this country; neighbours, co-workers. Ukraine is

Katy Balls

Boris Johnson promises more sanctions

Following Vladimir Putin’s decision to launch a full-scale invasion of Ukraine, Boris Johnson has addressed the nation. Speaking from 10 Downing Street, the Prime Minister spoke of his regret that ‘our worst fears have now come true’ and Russia had ‘unleashed war in our European continent’. Johnson said he had spoken with the Ukrainian president to reiterate the UK’s ongoing support. A vast invasion is underway — by land, by sea, and by air. And this is not, in the infamous phrase, some faraway country of which we know little. We have Ukrainian friends in this country; neighbours, co-workers: Ukraine is a country that for decades has enjoyed freedom and democracy and the right

Wolfgang Münchau

Europe is painfully reliant on Putin

Vladimir Putin declared war on Ukraine in the early hours of this morning, starting with a massive air attack from the north, south and east, targeting military and civilian infrastructure. This is the worst-case scenario. Putin’s speech on Monday set the ideological groundwork. This morning he spoke again, calling Ukraine ‘our historic lands’. He said he was launching what he called a ‘special military operation’ with the goal, not of occupying the country, but of ‘demilitarising and de-Nazifying’ Ukraine. And Putin spoke too to us here in the West: To anyone who would consider interfering from the outside: if you do, you will face consequences greater than any of you

James Forsyth

Two reasons Putin thinks he can weather sanctions

The nature of the Russian attack on Ukraine, striking across the country and not just concentrating on the territory claimed by the so-called breakaway republics, shows Vladimir Putin’s confidence that he can weather whatever sanctions the West imposes. This is not an assault designed to sit in any kind of grey area, but an unambiguous invasion — which the West has always made clear would bring forth the maximum set of sanctions. This is not an assault designed to sit in any kind of grey area Putin’s confidence is driven by two things. First, as I say in the magazine this week, Russia has been preparing to face expanded sanctions since

Vlad the Invader: Putin is looking to rebuild Russia’s empire

‘War’, in Prussian military theorist Carl von Clausewitz’s most famous dictum, ‘is nothing but a continuation of politics with the admixture of other means.’ A generation of Democrats — the American variety, but also European Christian and Social Democrats — have sought to ignore that truth. Appalled by the violence of war, they have vainly searched for alternatives to waging it. When Vladimir Putin ordered the annexation of Crimea in 2014, Barack Obama responded with economic sanctions. When Putin intervened in the Syrian civil war, they tried indignant speeches. When it became clear that Putin intended a further and larger military incursion into Ukraine, Joe Biden and his national security

James Forsyth

Sanctions on Putin will hit Britain’s cost of living. Are we ready?

No British soldiers will go to fight in Ukraine. The UK’s military involvement will be limited to weapons shipments and more forces to Nato’s eastern flank to try to deter further Russian revanchism. Despite this, domestic opinion in Britain — and other western countries — will be hugely significant in this conflict. The West is trying to use sanctions to influence Vladimir Putin’s behaviour. However, there are clear limits to deterrence through economic measures, as Niall Ferguson writes in his article. The threat of sanctions was not enough to stop Putin unilaterally recognising the two breakaway republics in the Donbas, Donetsk and Luhansk, and agreeing to send troops there. At

The West missed its chance to help Ukraine

Yet another east European tragedy is unfolding before our eyes. We have watched this movie for more than 80 years. In 1938, Czechoslovakia was abandoned to its fate by Neville Chamberlain at ‘Munich’. In 1945, at the Yalta conference, it was Poland’s turn — and the eastern half of our continent lost to Soviet domination. Then the Soviet invasions of Hungary in 1956 and Czechoslovakia in 1968, followed in 1981 by a ‘state of war’ in Poland. ‘Goodbye to all that’ we naively thought after the end of the Cold War, but in 2008, Vladimir Putin’s Russia seized chunks of Georgia. Then came 2014: the Russian dictator annexed Crimea from

How Starmer is using the crisis in Ukraine to his advantage

Boris Johnson and Keir Starmer had one thing in common at PMQs: they were both keen to talk about the escalating situation in Ukraine. While the Prime Minister wants to use the crisis to show there are more important issues than parties, the Labour leader views it as an opportunity to put some clear blue water between himself and his predecessor, Jeremy Corbyn.  Starmer is using the Ukraine situation this week to emphasise Labour’s return to the centre His call at Prime Minister’s Questions to ban Russia Today has already received some criticism from figures on the left and right of the party who believe it would be self-defeating. Whether or

Freddy Gray

Would Trump have prevented the crisis in Ukraine?

‘I know Vladimir Putin very well,’ said Donald Trump yesterday, speaking of the Ukraine crisis, ‘he would have never done during the Trump administration what he is doing now.’ As with a lot of Trump utterances, that statement is at once arrogant, preposterous — and probably true. Maybe it is a coincidence — or Trump’s often-cited luck — that the last major crisis over Ukraine was back in 2014, after Viktor Yanukovych was ousted and Putin annexed Crimea. Or perhaps not. Putin, as a slightly comic alpha male authoritarian, saw in Trump something he recognised Back then Barack Obama led the free world and, busy as he was, he offloaded

Putin’s next move

Budapest Russian troops, many apparently without insignia, began advancing into the disputed Donbas region yesterday. The question now is how much further they will go. The Donbas rebels claim an area three times the size of the territory they currently hold, which is roughly equivalent to the area of Devon. If Moscow were to try to take control of the larger territory, it would mean overrunning the Ukrainian frontlines. It is unlikely that Kiev’s military can mount a serious defence if the Kremlin orders a full-scale attack. The call to advance came in the form of a belligerent speech by Putin to the Russian people. In it, he strongly suggested

Freddy Gray

Why the silence over Biden’s links with Ukraine?

‘He has been wrong on nearly every major foreign policy and national security issue over the past four decades.’ So once said Robert Gates, the former US defence secretary, of the now president Joe Biden. We don’t yet know if Biden is wrong about the current Ukraine crisis. We may be about to find out. His speech on Tuesday was at least competent, if not entirely coherent. ‘Who in the Lord’s name does Putin think gives him the right to declare new so-called ‘countries’ on territory that belongs to his neighbours?’ asked the president, in one of his now all-too-familiarly infirm attempts to sound firm. Yet Biden said his administration,

Putin must look at the West and laugh

Whatever the West’s response to Russia’s attack on Ukraine’s sovereignty, the crisis demonstrates the limitations of western politics and policy across the board. If Vladimir Putin understands any demographic better than the Russian people, it is the governing class of the West: that Harvard-Oxbridge-Sciences Po axis of toweringly smug and practically interchangeable global-liberals who weep for international norms they weren’t prepared to defend. Their ideas and their sanctions are tired because they are civilisationally tired. Putin knows this, but none of the rival ideologies aiming to replace liberalism have anything better to offer. The failure of the global-liberals comes on many fronts but two of the most significant have been

Steerpike

Five of the worst responses to the Ukraine crisis

Boris Johnson has just got up in the Commons to announce Britain’s response to the ongoing Ukraine crisis. Vladimir Putin last night ordered troops into two breakaway regions of eastern Ukraine run by Moscow-backed separatists, prompting fears that the balloon is about to go up. There are a lot of grim faces in Parliament today as MPs meet to ponder the future of the region. Gulp. Johnson told the House that he was announcing sanctions against five Russian banks – Rossiya, IS Bank, General Bank, Promsvyazbank and the Black Sea Bank – and three Russian high net-worth individuals. While many across Parliament want the PM to go further, it’s by no means

James Forsyth

Britain’s Russia sanctions are underwhelming

The sanctions that Boris Johnson has just announced in response to Russia’s breach of international law are fairly underwhelming. Five banks are being hit, three rich individuals and those members of the Duma who voted to unilaterally recognise the breakaway republics. They will not make Moscow take notice in the way that the decision end certification of Nord Stream 2 has. Johnson’s defence of the limited nature of these sanctions is that they are the ‘first tranche’ and the UK needs to hold things back to try and deter Russia from further action. But given that the UK, rightly, considers what Russia is up to an invasion of Ukraine, these

Wolfgang Münchau

Sanctions won’t stop Putin

The Lithuanian prime minister, Ingrida Šimonyte, put it well yesterday: ‘the way we respond will define us for the generations to come’. The invasion of Ukraine started last night with Vladimir Putin’s order to send troops into eastern Ukraine. He had earlier recognised the breakaway provinces of Donetsk and Luhansk, which together constitute the Donbas region, as independent republics. The two self-proclaimed states declared their independence — something neither Kiev nor any other third country save Russia has yet recognised — following 2014 following the Maidan revolution. The US, UK and EU say they will announce fresh sanctions as early as today. What we know is that the technicalities have been