Putin’s war games continue

Russia has sparked a dangerous escalation in Ukraine. Matthew Partridge reports.

On Sunday, Russian forces shot, rammed and then seized two Ukrainian warships and a military tugboat, wounding six sailors and capturing 24, reports The Economist. The ships were passing through waters that separate Russia from Crimea, and had every right to be there under a treaty agreed by Kiev and Moscow in 2003.

The incident marks the first time that Russia has owned up to an attack on Ukrainian forces, four years after its surreptitious invasion of eastern Ukraine and annexation of Crimea. It is the culmination of six months of growing Russian pressure on Ukraine's eastern ports in the Sea of Azov, whose sole outlet to the Black Sea, and thence the Mediterranean and the world, has been steadily squeezed in what amounts to an "undeclared blockade".

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Dr Matthew Partridge
MoneyWeek Shares editor