Russia's Putin: Will make decision on whether to recognise separatist Ukraine regions on Monday

Joel Frank Independent Analyst

Russian President Vladimir Putin said on Monday that he would make the decision as to whether or not to recognise the breakaway regions of Eastern Ukraine as independent nations on Monday, after being urged by most of the members of his cabinet, as well as leaders in Russia's State Duma, to do so. Putin stated that Russia is not "talking about" adding the two break-away regions of Ukraine into Russia's territory. Negotiations on the Donbass region are in a deadlock, he said, adding that if no progress is made in resolving crisis, then Russia should recognise the independence of the regions.

Market Reaction

The broad market mode remains one of nerviousness. Seperate reports suggested that Putin has already made up his mind to recognise the independence of the breakaway regions inside Ukraine. Such a recognition could turn up the heat in the region significantly; pro-Russia separatist forces have already been staging false flag attacks and blaming them on Ukraine's military in recent days and shelling across the ceasefire line has been escalating in recent days.

The pro-Russia separatists have also been increasing the inflammatory rhetoric and misinformation in recent days; claiming they have uncovered plans for a Ukrainian assault to take back control of the region and claiming Ukraine is planning a "genocide" on Russian speakers in the area. A Russian recognition of the independence of the breakaway regions in Donbas paves the way for Russia to provide direct military support for the region's forces against "Ukrainian aggression". I.e. another major pretext for Russia to attack Ukraine.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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