Asian equities tumbled, oil prices soared past $100 and safe havens rallied on Thursday after Russian President Vladimir Putin sent his forces into Ukraine, accelerating fears of a major war in eastern Europe.
After weeks of warnings from the United States and other powers, the Kremlin – which is said to have around 200,000 troops lined up – ordered a wide-ranging invasion of its neighbour, days after saying it would provide “peacekeepers” to two breakaway regions.
The Russian president said in a surprise statement on television: “I have made the decision of a military operation.” He also vowed retaliation against anyone who interfered and called on Ukraine military to lay down its arms.