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Has Brent lost its Mojo?

Published Friday, April 25th, 2014

“Russia invades Eastern Ukraine”. It has not happened yet but it is a headline we should be prepared for at any moment. Escalators can move up and down and the one involving Ukraine is on its way up and increased in speed yesterday. Ukrainian forces killed up to five pro-Russia “terrorists” in a major escalation of the confrontation.

President Putin warned of “consequences”; his resources minister said that western companies withdrawing any investment would “lose a serious lump of future pie”; Ukraine’s acting President denounced Russia’s “permanent threats and blackmail”. John Kerry declared that Russia is lying to the world about its involvement and is bent on a policy of destruction, deception and destabilisation.

European leaders are like rabbits in the headlights and appear to have lost their voice. They have badly misread a situation which is partly of their own making. Europe’s stability and embryonic economic recovery is under threat and unity endangered. Russia will not allow its economy to meltdown under sanctions without severe reprisals.

To read the rest of the report, please click here 

Posted by David Hufton