Ukraine President Says It Will Fight Russia if Tensions Continue

The Ukrainian President Petro Poroshenko told CNBC on Friday his country will look to engage with Russia on a military level if it fails to de-escalate tensions in east Ukraine by Monday.

A ceasefire in east Ukraine is currently in place after months of violence in the region. It was due to end late on Friday, but Ukraine reportedly agreed to extend it until Monday.

“I think that the ceasefire will expire and Ukraine will defend ourselves with all methods we have in our disposal, including military,” Poroshenko said at an EU summit in Brussels.

“Because we cannot accept that (they’re killing) Ukrainian soldiers. That our check points are captured and the tanks, artillery system are going to Ukraine,” he said.

Leaders from the European Union said they are ready to impose further sanctions on Russia if the Monday deadline is not respected. In a statement, the European Council also demanded the release of prisoners in east Ukraine and for officials to be granted control of three border checkpoints.

Despite threats of military action, Poroshenko stressed he was a “president of peace.”

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza