The attack
Putin ordered the attack at dawn on 24 February 2022.
With surprisingly effective firepower, the Russians destroyed most of the Ukrainian military bases and the intelligence headquarters in Kyiv.
Civilians fled from the capital to the countryside and more isolated parts of the country, as they did in the other cities under attack.
The luckiest ones manage to escape to neighbouring countries, Romania above all, asking for and receiving asylum.
Today the Italian Defence Council met, giving Mario Draghi carte blanche in view of tomorrow’s NATO summit where all other issues will leave the field to decide what to do in the West.
Consequences of the war on the main markets
The Moscow stock exchange, which had initially been suspended, resumed trading with disastrous results.
The Russian market has lost 45%, losing almost 280 billion euro in value while maintaining or even increasing its bargaining power thanks to the exorbitant increases in oil prices, which have reached 105 dollars a barrel, and especially in gas prices, which have soared by another 20%.
All the main European stock exchange indices were red, and the Italian stock exchange was no exception, losing a considerable 5%.
All commodities appreciated and the picture was further complicated by the statements made by China, which does not consider Putin‘s move to be an attack or a full-scale invasion, but rather protection through military action aimed at Russia‘s interests.
Cryptocurrencies also suffered greatly, with BTC losing 5% to $35,400 and Ethereum 7.80% to $2,390.
Signs of hope
According to LPR, some brigades of the Ukrainian army are surrendering, putting an end to the conflict, most notably the 53rd motorized infantry brigade.
These acts would be the basis of an unequal war that intelligently the Ukrainian army, or at least part of it, is trying to avoid, also moved by the deafening silence of NATO, which is currently not intervening.
The situation bodes well, even if the facts are constantly evolving and it is too early to understand in what direction the situation will develop.
The concern
The continuation of a war on Europe’s doorstep will benefit no one except the recently formed axis between Russia and China.
The two superpowers together hold the overwhelming majority of the world’s raw materials and energy, and Europe would be left high and dry.
Tomorrow’s emergency NATO summit will give us a machete for the jungle of our thoughts and reveal whether the markets have another reason to turn red or not.
Investors are very worried and there is clear turmoil in a world that leaves little hope amid record inflation, wars and an energy crisis.
Meanwhile, Trump declares that Biden has taken America to war again and that never before has the economy and the employment world been in such a crisis.
Source: https://en.cryptonomist.ch/2022/02/24/consequences-war-markets/