EAVEX Weekly

December 03, 2018

Ukrainian stocks came under pressure early last week after an incident in the Kerch Strait (between the Azov and Black Seas) in which Russian border guards opened fire on two Ukrainian gunboats that had approached the coast of disputed Crimea. Kyiv condemned the event as an “act of Russian aggression” and President Poroshenko asked Parliament to support a declaration of martial law for one month. However, exactly what this martial law declaration, which is valid in only 10 of the country’s 25 provinces, actually means is unclear. US president Trump cancelled a meeting with Russian President Putin that had been scheduled for G20 summit in Buenos Aires on Dec 2, citing the Kerch incident as justification.