Ukrainian navy decimated by Russian move into Crimea

Tim Ripley, London – IHS Jane’s Defence Weekly
25 March 2014

UkraineOfficers of the Ukrainian navy Grisha V-class frigate Lutsk raise the Russian naval ensign on 20 March. Source: PA Photos
Ukraine’s maritime forces have been dealt a heavy blow by the Russian intervention in Crimea, with 12 of its 17 major warships and much of its naval aviation assets falling under Moscow’s control.
In the eight days since the controversial referendum on 16 March that opened the door for Crimea to be absorbed in the Russian Federation, almost every Ukrainian naval base and ship on the peninsula has been seized by Russian forces or local pro-Moscow self defence units.
The scale of the crisis facing the Ukrainian navy is apparent from the fact that around 12,000 of its 15,450 personnel were based in Crimea when Russia intervened on 27 February. Over the past three weeks, the majority of the Ukrainian military personnel on Crimea have defected to the Russian military or resigned from military service, according to announcements by the new pro-Kremlin administration in Crimea. Some independent media reports appear to broadly support Russian claims in this regard. Continue reading

Ukrainian Authorities plan to Attract `US Private Military Company Greystone ‘ according to the Ukrainian Secret Service ‘

#AceWorldNews – DNEPROPETROVSK – March 25 – Ukrainian authorities plan to attract US private military company Greystone Limited to suppress protest moods of the mostly Russian-speaking population in the east of the country.

According to Ukrainian Security Service, mercenaries will be engaged in political search and protection of state security over inability of Ukrainian law enforcement agencies to curb on leaders and activists of pro-Russian movement independently.

This initiative was put forward by oligarchs Ihor Kolomoyskyi, a co-owner of Ukraine’s PrivatBank, and Serhiy Taruta, head of the industrial union of Donbass, a coal basin in eastern Ukraine, as these business tycoons were appointed as governors in central Ukraine’s Dnepropetrovsk region and eastern Ukraine’s Donetsk region, respectively.

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Ukraine quits CIS, sets visa regime with Russia, wants Crimea as ‘demilitarized zone’

Published time: March 19, 2014 17:55
Edited time: March 21, 2014 10:15

Members of a "Maidan" self-defense unit stand guard in front of a Ukrainian parliament building in Kiev March 17, 2014. (Reuters / Alex Kuzmin)

Members of a “Maidan” self-defense unit stand guard in front of a Ukrainian parliament building in Kiev March 17, 2014. (Reuters / Alex Kuzmin)

The interim government in Kiev says Ukraine will leave the commonwealth of post-Soviet states and force Russians to apply for entry visas, and plans to ask the United Nations to make Crimea a demilitarized zone.

The raft of measures – a response to Russia’s incorporation of Crimea into its territory following Sunday’s referendum – was announced by National Security and Defense Council chief Andrey Parubiy during a press briefing in Kiev.

The Commonwealth of Independent States (CIS) was founded to maintain economic and security links between former Soviet republics when they became independent states in 1991. It initially included the 12 non-Baltic countries, though Georgia quit after the Ossetian conflict in 2008.

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Russian ruble becomes Crimea’s second official currency

The Crimean parliament has announced the Russian ruble will become the second official currency of Crimea and will be circulating alongside the hryvnia until it is withdrawn in 2016.

The decision marks the first step in the peninsula’s economic integration with Russia, after Crimea’s citizens overwhelmingly voted for joining Russia in Sunday’s referendum.“The official currency unit of the Republic of Crimea is the Russian ruble, and until January 1, 2016, the Ukrainian hryvnia would be also the official currency,” the parliament’s official website says. Continue reading

The ‘Hidden Debt’ Of Russia And Ukraine That Could Make Them More Exposed Than Any Other Crisis In The World

Map of developping countries, without least ad...

http://www.imf.org/external/pubs/ft/wp/2014/wp1409.pdf

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Matthew Boesler

March 5, 2014 · by Fortuna’s Corner ·

In recent years, corporations in emerging markets (EM) have increasingly sought to tap international bond markets to finance themselves, as lowinterest rates at the global level have provided more attractive terms of borrowing than those corporations could access in their home countries.Nomura, Bloomberg

Chart 1: Onshore and offshore debt. Note: Series represent cumulative sum of bonds issued that have not yet matured or been called, which may not properly account for debt restructuring.

Jens Nordvig, global head of currency strategy at Nomura, estimates that emerging market corporates have issued $400 billion of offshore debt since 2010 — about 40% of their total debt issuance (chart 1).

This issuance is not captured in traditional country-level balance of  payments statistics, which only measure debt issuance on a residency basis and not a nationality basis.

In other words, the official statistics only measure a given corporation’s debt issuance in the home country, and don’t take into account offshore debt issued through overseas subsidiaries.

The latter measure is a better measure of risk exposures, according to  Philip Turner, deputy head of the monetary and economics department at the Bank for International Settlements, who argues in a

new working paper that “the consolidated balance sheet of an international firm best measures its vulnerabilities.”

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Egypt Looks to Cut Ties With US in Favor of Putin’s Russia

Night Watch | Feb 15, 2014

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South Korea-North Korea: South Korea rejected North Korea’s offer to take a series of steps to ease tension that included canceling Seoul’s regular military drills with Washington. The North countered that on 14 February that Pyongyang must take nuclear disarmament steps first.

The North’s National Defense Commission on Thursday proposed the two states halt military actions and mutual vilification to build better relations. The North indicated, however, it would maintain its nuclear weapons program .

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Former FBI terrorism expert: Sochi terrorism threat is unique

By Jacqueline Klimas The Washington Times Tuesday, January 21, 2014

 

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A photo of a police leaflet seen in a Sochi hotel on … more >

Don Borelli, a former member of the FBI Joint Terrorism Task Force, said the terrorist threat in Sochi, Russia, is unique because officials already know terrorists are planning an attack in Sochi sometime during the Olympics.

“We rarely get a specific event, a specific time,” he said Tuesday on CNN. “This type of threat, they’ve thrown the gauntlet down.” Continue reading