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Kremlin Says Military Action Will Stop ‘In a Moment’ If Ukraine Meets 3 Conditions

The Kremlin sets out of the blue conditions and oil reverses some of its spike. Let's discuss what's going on.
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Three Conditions

  1. "We really are finishing the demilitarisation of Ukraine. We will finish it. But the main thing is that Ukraine ceases its military action. They should stop their military action and then no one will shoot."
  2. "They should make amendments to the constitution according to which Ukraine would reject any aims to enter any bloc. This is possible only by making changes to the constitution."
  3. "They should recognize that Crimea is Russian territory and that they need to recognize that Donetsk and Lugansk are independent states. And that’s it. It will stop in a moment,"

The above conditions were set by Kremlin spokesman Dmitry Peskov according to Reuters.

Oil futures have been falling and as of about 7:00 AM central have given up about half their gains, still up about 5% as I type, down from a 10% spike when the market opened.

US bond yields had been flat, now they are up across the board with the 10-year note up 6 basis points, the 5-year note up about 5 basis points, and the  3-month yield up 4 basis points.

Gold which had spiked to $2007 is now at $1987 but that's still up about $22. 

It's difficult to say if futures moves are related to the Kremlin announcement or simply normal retracement.

Regardless, this is an out of the blue move by Putin who likely realizes he is in serious trouble with Ukrainian resistance and protests on the home front.

Addendum

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This post originated at MishTalk.Com

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