It seems like an eternity ago when futures tumbled last Friday on reports of Ukraine shelling, and "destroying", Russian military vehicles that had entered Ukraine (only to rebound to an unchanged print). It didn't take long for the world to forget all about this latest unsubstantiated incident and move on to "de-escalation" hopes, which this morning have catalyzed yet another rise in futures on expectations that upcoming talks between Putin and Poroshenko in Minsk next week will lead to further easing of tensions.
In the meantime, the Russian humanitarian convoy which has been the source of so much consternation, is now finally entering Ukraine.
As Bloomberg reports, the first trucks in the Russian aid convoy at the border with Ukraine are being checked by Ukraine border agents, with the Red Cross adding that "hopefully" convoy can start operations tomorrow, Laurent Corbaz, ICRC’s head of operations for Eastern Europe and Central Asia, says in Moscow. Corbaz adds that the Red Cross regrets customs, inspections were delayed by Ukrainian authorities. ICRC also confirms readiness to deliver aid to Luhansk, in eastern Ukraine.
This is taking place after the Red Cross visited Luhansk yesterday and found a city without water, electricity, or supplies and in “urgent need” of food, medical supplies. "ICRC sent additional staff to the area and received all the authorization from the authorities to clear the aid and humanitarian cargo as soon as possible."
Ukrainian border service confirms by phone that processing of cargoes has started.
As a result, the world media appears to have piled up at the border checkpoint and there is even a live feed of the Russian trucks entering Ukraine. Which is why expect this to be as exciting as watching the S&P levitate on no volume.
