CNN reports on Russia in Crimea, and Simon Schuster weighs in on why Putin is already losing in Ukraine.
The economic impact on Russia is already staggering. When markets opened on Monday morning, investors got their first chance to react to the Russian intervention in Ukraine over the weekend, and as a result, the key Russian stock indexes tanked by more than 10%. That amounts to almost $60 billion in stock value wiped out in the course of a day, more than Russia spent preparing for last month’s Winter Olympic Games in Sochi. The state-controlled natural-gas monopoly Gazprom, which accounts for roughly a quarter of Russian tax revenue, lost $15 billion in market value in one day — incidentally the same amount of money Russia promised to the teetering regime in Ukraine in December and then revoked in January as the revolution took hold. (Schuster)
Shuster, Simon. “4 Reasons Putin Is Already Losing in Ukraine.” TIME. 3 Mar. 2014. Web. 4 Mar. 2014.