Russia’s President Vladimir Putin announced late Wednesday night that the country’s armed forces would carry out a “special military operation” in Ukraine.
Putin addressed the Russian people, at a time coinciding with a United Nations security council meeting, according to a report from the United Kingdom’s The Guardian newspaper.
Putin said clashes between Ukraine and Russia are “inevitable” and only a “question of time.”
The Russian leader said that further expansion of NATO and its use of Ukraine’s territory is unacceptable.
Putin said the military operation is being conducted to “protect people” and circumstances demand “demand decisive action from Russia.”
Explosions have been heard in the Ukrainian capital of Kyiv and the country's second-largest city Kharkiv, among others, as per reports from the Associated Press.
The Markets: Global markets have been plummeting this week amid uncertainty over the Russia-Ukraine crisis. The SPDR S&P 500 ETF Trust (NYSE:SPY) closed 1.77% lower at $421.95 on Wednesday. Apple Inc. (NASDAQ:AAPL) stock closed 2.6% lower at $160.07 and Tesla Inc (NASDAQ:TSLA) stock closed 7% lower at $764.04.
Cryptocurrencies like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE) are also facing the heat.
