On Monday, Russia ignored the Western calls which were made in the release of the three Ukrainian naval ships, which were held on Russian waters together with their crews which Russia engaged in fire near Crimea during the weekend.
According to reports, the Russian accused the Kiev of plotting together with the Western allies in provoking a conflict between the two countries.
However, In Ukraine, the naval ships where reported armed with forces on board who were on a full combat alert. Nevertheless, President Petro Poroshenko had to get approval from his parliament whether to impose the martial law or not. This was to be done on Wednesday thereby strengthening the national defenses possible against the invasion of the Russia forces.
Under this reports, through a televised address, the president gave a skeptical lawmaker of his decree, which from reports was to be kept into a vote. In addition to this, earlier on Monday, this could not curb any civil liberties or whatsoever lead into a delay during the elections which are scheduled to take place at the beginning of next year.
In consideration of the relations which at the moment is still raw shortly after the Russian annexation in 2014 of Crimea, which originated from Ukraine backing a pro-Moscow insurgency towards the eastern Ukraine, however, the crisis in the bigger picture is risked by pushing both countries on the open in a conflict, which had early signs reigniting from the Western, after the western countries called for more sanctions than agreed on Moscow.
However, Russia’s rouble weakened by about 1.4% compared to the dollar on Monday in Moscow, since Nov. 9, this has been the biggest fall in one day. In the meanwhile, the Russian and the dollar bonds dropped.
According to reports, Markets are considered highly sensitive in ways which could trigger or give rise to new Western sanctions, and hence weakens Russian economy. After a fall in oil price which is considered the most significant source of revenue for Russia, this fall made the Russian economy to be more vulnerable.