Voices and Visions:Ukraine Crisis Update

Both the Standard&Poor's and Fitch credit rating agencies have put Russia on credit watch negative,while keeping the credit rating itself at the second lowest level of BBB.Russia's annexation of Crimea and the resultant threat of Western sanctions may cause companies to avoid investing in Russia,and those already invested there may withdraw,S&P said.Banks may also be reluctant to lend to Russian companies,causing the economy to slow further,Fitch pointed out.Russia's growth slowed to 1.3% in 2013 and investment is contracting.*
The EU has imposed asset freezes and visa bans on 33 prominent Russians in response to Russia's move in Crimea,while the US has done the same to 31 leading Russians.Russia's stock market has fallen more on the news of the imposition of sanctions,and the ruble has declined in value as well.*
Although some impact of Western disapproval of Russia's actions is being felt,the next phase,economic sanctions,will be more difficult to impose.Slovakia's Deputy Prime Minister and Foreign Minister,Miroslav Lajcak,said he is wondering whether the EU and US are willing to share the pain of more sanctions.Sanctions are painful;but they cannot be painful for Russia only.Are we willing to bear the burden?Mr.Lajcak asked.
Russia is not the enemy,in Slovakia's view,but it has violated the rules,Slovak Foreign Minister Miroslav Lajcak explained.Slovakia borders Ukraine,but Slovaks watch Russian TV,and so hear Russia's point of view,he pointed out.*
I expressed my very strong,grave concerns about what is going on,said UN Secretary General Ban Ki-Moon of his visit to Moscow, where he met with Russian leaders.The political emotions have hardened,he observed.
Meanwhile,President Barack Obama added that Russia has positioned its forces in such a way that it can move into Eastern and Southern Ukraine as well.In consequence,he has signed an executive order enabling him to impose sanctions on key economic sectors,should Russia invade those regions as well.*
Russian troops continued their takeover of Ukrainian military bases in Crimea,seizing Ukraine's Black Sea warships.Shots were fired,but no one was injured.The Ukrainian naval commander had been detained earlier when naval headquarters was seized,but was released unharmed.About 25,000 Ukrainian troops and their families must be evacuated from Crimea and reassigned.