• 6 minutes WTI @ 67.50, charts show $62.50 next
  • 11 minutes Saudi Fund Wants to Take Tesla Private?
  • 17 minutes Why hydrogen economics is does not work
  • 9 hours Starvation, horror in Venezuela
  • 19 mins The EU Loses The Principles On Which It Was Built
  • 11 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 6 hours Crude Price going to $62.50
  • 15 hours Anyone Worried About the Lira Dragging EVERYTHING Else Down?
  • 9 hours Chinese EV Startup Nio Files for $1.8 billion IPO
  • 20 hours Oil prices---Tug of War: Sanctions vs. Trade War
  • 20 hours Correlation does not equal causation, but they do tend to tango on occasion
  • 8 hours WSJ *still* refuses to acknowledge U.S. Shale Oil industry's horrible economics and debts
  • 20 hours Russia retaliate: Our Response to U.S. Sanctions Will Be Precise And Painful
  • 1 day WTI @ 69.33 headed for $70s - $80s end of August
  • 22 hours Monsanto hit by $289 Million for cancerous weedkiller
  • 1 day California Solar Mandate Based on False Facts
Alt Text

Turkey Turmoil Drags Oil Down

While Turkey might not be…

Alt Text

Saudi Arabia And Iran Reignite The Oil Price War

As U.S. sanctions on Tehran…

Claude Salhani

Claude Salhani

Claude Salhani is the senior editor with Trend News Agency and is a journalist, author and political analyst based in Baku, specializing in the Middle…

More Info

Trending Discussions

Russia’s Eastern War: Part Two?

Russia’s Eastern War: Part Two?

The crisis in the Crimea has already raised the price of Russian oil by $2 a barrel, as of Monday creating havoc on some energy markets. And this is only the beginning of what could turn onto a long and complicated crisis pitting the former Cold War foes into a new hot conflict.  Oh yes, and the Russian rouble is the losing value to the US dollar.

The uncertainty prevailing in Ukraine and subsequently the uncertainty in the Crimea, a strategic peninsula situated at the southern tip of the country, could send oil prices soaring upwards some more if the current crisis continues at its current momentum. And that is the good news.

Over the weekend Russia’s parliament approved President Vladimir Putin’s request to send Russian troops to Crimea, a region that was part of Russia for the good part of 200 years.  The territory was returned to Ukraine in1954, by then Soviet leader Nikita Krushchev, who as it turns out was Ukrainian. However, the region remains heavily populated by Russians, providing Moscow with a good reason to intervene in order to protect the people from what Moscow describes as neo-Nazis.

Related Article: There's no Easy Fix to Ukraine's Energy Dilemma

In the US the government waves the terrorist threat to justify its military interventions in foreign lands, the Russians meanwhile have their own version that raises as much fear as jihadi terrorists do in the West. Memories of Ukrainian collaboration with Nazi Germany have still not faded away.

Some Russian troops have already taken up positions around a number of strategic locations in Crimea, meanwhile in the capital, Kiev, a number of Western leaders, including the British Foreign Secretary William Hague and the US Secretary of State John Kerry flew in to the Ukrainian capital Monday to reassure Kiev of their support.

 All this does not bide well as the jungle drums are beating tonight to the tune of the dangers of a military confrontation. The Ukrainian military is of course nowhere nearly as armed, manned and combat experienced as the Russians are.

Russia has 766,000 active military personnel; Ukraine 160,000.

Russia has 3,082, combat planes; Ukraine, 400.  Russia has 973 helicopters; Ukraine, 93. Russia has 15,500 tanks; Ukraine, 4,112. Russia has 352 ships, Ukraine, 25. In fact, Russia’s Black Sea fleet is based in Sevastopol, in Crimea, a port that remains of vital importance to Russia.  Could all this insane talk of war actually lead Russia and the West towards a new war in Crimea?      
                  
The Crimean War of 1853-1856 was a war that began not out of any great pre-planning or strategic reasoning but more due to the incompetence of the concerned leadership of the time. There are good chances that history is about to repeat itself.

Related Article: Rosneft to Spend $83 Billion to Develop Siberian Oil Field

If in the West the Crimean War may be remembered for the infamous Charge of the Light Brigade, when British forces led by Lord Cardigan undertook a direct frontal assault against a Russian artillery battery in the Battle of Balaclava, a disastrous affair that was immortalized in a poem written by Alfred Lord Tennyson, to the Russians the Crimean War of 1853-56 better known as the Eastern War, is a reminder of the importance that this former Russian territory remains a region close to Moscow’s heart.

The war transformed much of the region. As the battlefields moved around and armies waltzed across large sections of lands, populations were forced to move simply to avoid getting caught in the crossfire. Others were frightened away by nationalist movements who were incited by the war, the present-day states of Ukraine, Moldova, Bulgaria, Romania, Greece, Turkey, Armenia, Georgia, and regions such as Crimea and the Caucasus all changed significantly due to this conflict.

Hopefully cooler heads will prevail this time.

By Claude Salhani




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News