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February 24, 2022

Russia’s Putin announces launch of military operation against Ukraine

The start of the Russian invasion began with “missile strikes” on airfields and military headquarters, in Kyiv.

Understand the impact of the Ukraine conflict from a cross-sector perspective with the Global Data Executive Briefing: Ukraine Conflict

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Latest Updates on the Ukraine/Russia Crisis

Whilst at its core a humanitarian crisis, the Russian invasion of Ukraine risks adding materially to existing global economic and supply challenges. We are likely heading into a period in which geopolitics will become a regular part of boardroom discussions. Recent developments have seen Russian companies make significant progress around the world to supply countries with equipment in various Aerospace, Defense & Security sectors. This means that countries dependent on Russian arms for their security calculations should review all purchases and clauses regarding their programs and payments. Download GlobalData’s 5th Ukraine Conflict Executive Briefing to learn more. This report is part of a continued series that is renewed monthly with the latest data and analysis, as the conflict develops and has wider implications across sectors. Access the latest macro-economic forecasts, charts with the latest data, and our updated sanctions tracker, as well as our updated sector scorecards to reflect the current views on the impact of the crisis at a company level.
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Ukraine President Volodymyr Zelenskyy has officially confirmed the launch of Russia’s military operation against the country.

Calling the move as ‘an unjustified, deceitful, and cynical invasion’, Zelenskyy said missile strikes were targeting the country’s military and other critical defence facilities, and artillery fire on border units.

Several explosions were heard in multiple cities in Ukraine.

According to media reports, the Russian Defence Ministry was cited as saying, in a statement, that Ukraine’s air defences and airbases have been disabled, and Russian units are not facing any resistance from Ukrainian border guards.

The ministry also claimed that Russian forces have destroyed 74 defence facilities, 11 airfields, three command posts and 18 radar stations.

The launch of the invasion in the region of Donbas, in eastern Ukraine by land, air and sea, follows Russian President Vladimir Putin’s recognition of the Donetsk and Lugansk people’s republics, and approval for the use of armed forces in Ukraine.

The first steps taken by Ukraine included signing a decree on the imposition of martial law in the country for a period of 30 days, and negotiations with world leaders on the formation of an international coalition to end Russian aggression.

President Zelenskyy also held meetings with the government leadership, and other key representatives, to discuss the security and defence measures in Ukraine and on its borders.

Further, a state emergency has been declared and the country’s airspace was closed.

In a statement to the media, the Ukraine President said that the country’s Army ‘is ready for any scenario’.

He said: “Only I and our army will know the clear steps regarding the defence of our state. And believe me, we are ready for anything.”

Zelenskyy also noted that the 1994 Budapest Memorandum of Security Assurances is not working, and the country needed new security guarantees.

The memorandum is in connection with Ukraine’s accession to the Treaty on the Non-Proliferation of nuclear weapons. Participants include Russia, Ukraine, the UK and Northern Ireland, and the US.

In an address today, Russian President Putin said that the current events were not related to invading Ukraine’s, and its citizens’, interests.

Putin said: “It is not our plan to occupy the Ukrainian territory. We do not intend to impose anything on anyone by force.

“They are connected with defending Russia from those who have taken Ukraine hostage, and are trying to use it against our country and our people.”

Amidst this war situation that shocked the world, several countries have issued advisories urging their citizens in Ukraine to stay indoors.

World leaders have strongly criticised Russia’s attack on Ukraine.

Nato consultations have been requested under Article 4 of the North Atlantic Treaty by Estonia, Latvia, Lithuania, Poland, and other allies.

US President Joe Biden said steps were being taken ‘to rally international condemnation, including at the United Nations Security Council’ and severe sanctions on Russia will be imposed.

Biden said: “President Putin has chosen a premeditated war that will bring a catastrophic loss of life and human suffering. Russia alone is responsible for the death and destruction this attack will bring, and the United States, and its allies and partners, will respond in a united and decisive way. The world will hold Russia accountable.”

Last month, the UK and the US announced that they would provide defensive security assistance to Ukraine.

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Free Report
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Latest Updates on the Ukraine/Russia Crisis

Whilst at its core a humanitarian crisis, the Russian invasion of Ukraine risks adding materially to existing global economic and supply challenges. We are likely heading into a period in which geopolitics will become a regular part of boardroom discussions. Recent developments have seen Russian companies make significant progress around the world to supply countries with equipment in various Aerospace, Defense & Security sectors. This means that countries dependent on Russian arms for their security calculations should review all purchases and clauses regarding their programs and payments. Download GlobalData’s 5th Ukraine Conflict Executive Briefing to learn more. This report is part of a continued series that is renewed monthly with the latest data and analysis, as the conflict develops and has wider implications across sectors. Access the latest macro-economic forecasts, charts with the latest data, and our updated sanctions tracker, as well as our updated sector scorecards to reflect the current views on the impact of the crisis at a company level.
by GlobalData
Enter your details here to receive your free Report.

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