One of the things that Putin failed to mention in his nearly hour-long annexation speech, was the topic of retaliation to Western sanctions, leading many to assume he wouldn't even bother. Moments ago Reuters provided some clarity on this issue:
President Vladimir Putin said on Tuesday that Western attempts to frighten Russia with sanctions over its takeover of Ukraine's Crimea region would be viewed as an act of aggression, and that Moscow would retaliate.
We expect details wil be forthcoming, and that the west, whose every bluff has been called, and every gambit has failed, will need another teleprompted conference by the leader of the "Free world" Obama, explaining - once again - just what the costs, red lines, and escalating sanctions against Russia will be.
Obama may want to wait until a little later though: a mass rally planned in two hours from now on Moscow's Red Square to celebrate the Crimea annexation and the first step in restoring the USSR.