FT News Briefing The next phase of Putin’s invasion
4 snips
Sep 30, 2022 Russia's bold move to annex four Ukrainian regions escalates tensions, marking a significant shift in European geopolitics. The fraudulent referendums showcase coercive tactics fueling military strategies. Meanwhile, Germany's hefty €200bn aid package aims to mitigate rising energy costs amidst chaos in UK markets. The crisis in the UK bond market, driven by pension schemes needing cash, leads to drastic price drops, prompting emergency actions from the Bank of England that ripple through global financial markets.
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Putin's Escalation
- Putin's annexation of Ukrainian regions escalates the war significantly.
- This turns the conflict into a 'defensive war' in his view, justifying any means of defense.
Sham Referendums
- Referendums held in the annexed regions were widely criticized for being shambolic and coerced.
- Reports emerged of voters being forced at gunpoint and ballot boxes taken to homes.
Global Market Impact
- The UK's mini-budget caused chaos in global markets due to its potential inflationary impact.
- The pound fell to record lows, rattling markets worldwide.
