By Gene Sherman

Live Wire Staff Writer

As the situation in Ukraine and Crimea grows more complex by the day, most Americans are asking the same simple question: what does this mean for me?

Courtesy of www.magazinelibertas.com

Courtesy of www.magazinelibertas.com

Thankfully for military families, the thus far non-violent annexation of Crimea probably will not require American troops on the ground as the Obama administration, although promising economic and diplomatic help, has fallen short of pledging military aid to Ukraine’s interim government.
The bad news is that the situation doesn’t look to be resolved soon. Not only has the United States not pledged military support, but Ukraine also isn’t a NATO member. Although member nations have been meeting and actively monitoring the case, Ukraine isn’t necessarily guaranteed military protection from the international community either.

To make matters worse, Russian President Vladmir Putin has been fanning the rhetorical flames of war and drumming up domestic support against “threats” from the “illegitimate” government in Kiev.

 

Assistant Secretary of State Victoria J. Nuland Courtesy of www.breitbart.com

Assistant Secretary of State Victoria J. Nuland
Courtesy of www.breitbart.com

Assistant Secretary of State Victoria J. Nuland, while speaking at at the Organization for Security and Cooperation in Europe in Vienna, told officials, “President Obama has made clear to President Putin that even as we reject and condemn the action that they have taken, that there is a way out of a situation.”
The Obama administration’s proposal includes allowing international mediators to verify Putin’s claims of “lawlessness,” a de-escalated troop presence, and a good-faith recognition of Ukraine’s interim government. However, saving face doesn’t seem to be the interest of a man who just boldly and unexpectedly violated international law and described the streets of Kiev as an “orgy of nationalists, extremists, and anti-Semites,” during a press conference in Moscow.

Despite some headlines claiming he’s delusional and living out fantasies from his KGB days, it seems that Putin has made a calculated decision based on a new found revelation – that is, he’s not afraid of the West anymore.

Putin’s banking on the United States being far too war-weary to rebuke his power grab with force and that European powers are too reliant on Russian energy to make economic sanctions anything more than toothless.
This is a very big problem and besides the overtly sensationalist news value of a Cold War redux, why it’s not likely to go away any time soon. Senate Majority Leader Harry Reid recently told Politico that “the most important thing for us – for The United States – is to make sure we don’t go off without the European community.”

Russian Pres. Putin Courtesy of www.businessinsider.com

Russian Pres. Putin
Courtesy of www.businessinsider.com

This couldn’t be more true. How the situation in Ukraine plays out has the potential to unleash shockwaves throughout the European economy – particularly in energy and oil markets. Luckily for The United States, Russia isn’t a major supplier of our oil but in a post-globalized economy, everything is connected. Oil is considered a commodity and the commodities market is more susceptible to international anxieties than traditional market forces like supply and demand.

Despite the ancient partisan lore telling us that gas prices are too high due to either our reluctance to go out and buy a Prius or drill for oil in Alaska.
Of course, it’s too early to say what’s going to happen, but it’s important to remember that while the woes of the Ukrainians might seem like a far-off problem, it could be coming soon to a pump near you.