Following reports that Russia invades Ukraine On Thursday, escalating a long-standing diplomatic problem into a full-scale war. As a result, markets in Europe are anticipated to fall significantly. Also, following the announcement that Russia has started an attack on Ukraine, international markets are anticipated to be severely shaken.
According to media reports and government officials in at least four cities early Thursday morning local time, several explosions were seen across Ukraine, undermining Russian President Vladimir Putin‘s assertion that Russia was launching a military campaign that would be confined to the country’s far east.
Russia invades Ukraine: President Biden condemns the attack
Around two hours before dawn, explosions were heard in and around the cities of Kyiv, Odesa, Kharkiv, and Mariupol. According to news reports, the explosions are still going on. Ukraine’s minister of foreign affairs, Dmytro Kuleba, declared that a full-scale invasion of his nation was underway.
U.S. President Joe Biden criticized the violence and stated that “The world will hold Russia accountable for its actions,” before speaking with Ukraine’s Volodymyr Zelenskyy by phone late at night. The EU is scheduled to hold a special meeting on Thursday to determine its stance against these attacks.
Russia alone is responsible for the death and destruction this attack will bring, and the United States and its Allies and partners will respond in a united and decisive way.
The world will hold Russia accountable.
— President Biden (@POTUS) February 24, 2022
Ukraine is a country in Eastern Europe. It is the second-largest country in Europe by size, after Russia, which borders to the east and northeast. The current population of Ukraine is 43,301,680 as of Thursday, February 24, 2022.
Russia-Ukraine conflict summary
The conflict began in February 2014, when Russia and pro-Russian forces attacked Ukraine, primarily over the status of Crimea and parts of the Donbas. The war’s major focus has been on the status of Crimea and other disputed territories that are widely regarded as part of Ukraine by international law.
Russian military buildup on Ukraine’s border has exacerbated tensions between the two countries and strained bilateral ties during 2021-22, with the United States delivering a strong message that an invasion would be met with severe consequences for Russia’s economy.
“I believe it is necessary to take a long-overdue decision, to immediately recognize the independence and sovereignty of the Donetsk People’s Republic and the Lugansk People’s Republic”
– Vladimir Putin
Biden announces: USA’s Russia sanctions
Analysts believe that this could be the start of a larger conflict in Ukraine, and many officials are labeling the action an assault on Ukraine’s independence.