A Russian invasion of Ukraine looks to be imminentwith Health Secretary Sajid Javid this morning saying it "has begun".
Putin has claimed the advance into Donetsk and Luhansk – known collectively as Donbass – is an effort to “maintain peace”.
But it looks to have abolished hopes of the crisis being averted, and the future of the West’s relationship with Russia is now uncertain.
The UK Government is preparing to put sanctions on key Russian figures and businesses after President Putin recognised the two breakaway regions of eastern Ukraine as independent states.
Boris Johnson said the UK will work to ensure that “Putin should fail” if he carries out a full-scale invasion of Kyiv, “which is what he seems to be proposing to do”.
Ukrainian service members are seen on the front line near the city of Novoluhanske in the Donetsk region, Ukraine February 20, 2022. REUTERS/Gleb Garanich
GLEB GARANICH
The Prime Minister added: “There is a lot more that we are going to do in the event of an invasion.
“Be in no doubt that if Russian companies are prevented from raising capital on the UK financial markets, if we unpeel the facade of Russian ownership of companies, of property, it will start to hurt.”
In April 2014, Russia-backed rebels seized Government buildings in the Donetsk and Luhansk regions, proclaimed the creation of “people’s republics” and battled Ukrainian troops and volunteer battalions.
The following month, the separatist regions held a vote to declare independence and make a bid to become part of Russia.
Moscow has never accepted the motion, just used the regions as a tool to keep Ukraine in its orbit and prevent it from joining NATO.
The conflict could devastate Ukraine and cause huge economic damage across Europe, which is heavily dependent on Russian energy.
And if Putin goes ahead with a full-scale invasion, Russia's vast wealth of natural resources could be strengthened.
Ukraine is home to 148 coal mines, 95 of which exist in areas that are outside the control of the Kyiv government.
And the Donbass region is known to be a key area for this industry.
These mines are responsible for 65 percent of the population’s wages but as many as 19 are in the process of being shut for safety reasons.
Shelling from conflict as well as an inability to pump out the flooded areas have also caused the mines to close.
The equipment used by Ukrainian miners is also inadequate for the job, only adding to issues of safety.
A Ukrainian service member walks along a trench at a position on the front line near the village of Travneve in Donetsk region, Ukraine February 21, 2022. REUTERS/Gleb Garanich
GLEB GARANICH
But with Russia's extensive wealth and access to better equipment, the same problems facing Ukraine may not exist – making the country an attractive target for the Kremlin.
The move into Donbass, then, could potentially tighten Putin's grip on Europe's energy.
It comes as latest Government figures suggest UK prices in January were 5.5 percent higher than the previous year, meaning inflation sits at a 30-year-high.
Electricity bills are also up nearly 20 percent over the last year and gas prices 30 percent higher.
