Yet how the clash between Russia and the West goes is not really driven by economic calculation, and may escalate regardless of sanctions. Mr Putin’s core demand is that Ukraine remains “politically neutral”, certainly outside the Western military camp. The EU swept this grievance aside on Friday by signing an Association Agreement that includes a clause calling for the “gradual convergence between the EU and the Ukraine in the areas of foreign and security policy, including the Common Security and Defence Policy”. Mr Yatsenyuk played up the military angle, describing the main thrust of the accord as “security and defence cooperation”. Diplomats said this was a red rag to a bull.
http://www.telegraph.co.uk/finance/financialcrisis
http://www.telegraph.co.uk/finance/financialcrisis