Ukraine Won’t Retreat As Rebels Keep Attacking Positions

Ukraine’s military said on Monday it could not start withdrawing heavy weapons from the front line in the east as required under a tenuous ceasefire because pro-Russian separatists who advanced last week were still attacking its positions.

A truce to end fighting that has killed more than 5,600 people appeared stillborn last week after rebels ignored it to capture the strategic town of Debaltseve in a punishing defeat for Kiev.

Nevertheless, the peace deal’s European sponsors still hold out hope it can be salvaged, now that the Moscow-backed separatists have achieved that objective.

Kiev says it fears the rebels, backed by reinforcements of Russian troops, are planning to advance deeper into territory the Kremlin calls “New Russia”. Moscow denies aiding the rebels.

Fighting has diminished since Kiev’s forces abandoned Debaltseve in defeat last Wednesday, and there were hopeful signs for the truce over the weekend, with an overnight exchange of around 200 prisoners late on Saturday and an agreement on Sunday to begin pulling back artillery from the front.

But Kiev said on Monday that it still could not start the artillery withdrawal.

via CNBC

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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
Alfonso Esparza

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