- US expanding scope of sanctions against Russia
- Russia can choose to de-escalate the situation
- Diplomatic solution still possible in Ukraine
- US will ‘stand firm’ in support for Ukraine
- Future of Ukraine must be decided by Ukranians
The US can “calibrate our response” based on whether Russia chooses “to escalate or to de-escalate the situation”
Risk trades have perked up after these headlines and oil is at the lows of the day. For me the biggest risk is that Russia is emboldened by the soft US response so far.
