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Ukraine on the Brink

Duration:
18 minutes
First broadcast:
Monday 03 March 2014

With the situation growing more dangerous by the hour in Ukraine, will Russia's need to maintain its economic relationship with the West, provide a catalyst or restraint for action? The Russian military appears to have taken control of the Crimean peninsula and its troop build up continues. On Sunday, the United States issued a joint statement on behalf what it tellingly called the G7 rather than the G8 group of major economies. The statement warned that the G7 powers were prepared to isolate Russia economically over what the statement called "the Russian Federation's clear violation of the sovereignty and territorial integrity of Ukraine". On Monday, the rouble fell more than 2.5% to hit an all time low against the dollar. In response Russia's central bank has increased its key lending rate by one and a half per cent. Lilit Gevorgyan, Russian Analyst with IHS Global Insight believes that Russia's keen interest in protecting its position as a global economic power and its influence within the G8, will be a key factor in negotiations with the West. And, coffee - how prices could be set to rise. Plus, Lucy Kellaway considers the benefits of taking the lift.

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