The Ukrainian peninsula of Crimea (see map below) lies at the heart of a region that has always been hugely strategic, notes Liam Halligan in The Daily Telegraph. With Russia tightening its grip on Crimea following the toppling of Ukraine’s pro-Russian president, Viktor Yanukovych, the “economic and political stakes” remain “sky-high”.
The West fears a “resurgent” Russia and there are anxieties about western European energy security and the “systemic fall-out if a near-bankrupt Ukraine defaults on its sovereign debt”.
Russia supplies more than a third of western Europe’s gas and many powerful Western firms are heavily committed in Russia. This [...]
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