Global markets ‘panicked’ as Russian troops invade Ukraine

ukraine

KIEV, Ukraine (NBC) – While there is no reported violence between citizens and Russian troops in Ukraine, the pressure is increasing on President Obama to force Russian President Putin to back down.

Global markets are panicked over the prospect of Putin grabbing more territory that used to be part of the Soviet Union.

So far, gasoline prices have jumped at least 3 cents-a-gallon since the conflict began last week.

The United States and its allies are still looking for a plan.

Obama said, “What cannot be done is for Russia with impunity to put its soldiers on the ground.”

As leaders across the globe are condemning his actions, Putin is putting more Russian troops in Ukraine’s Crimea region.

Experts say they are taking control of the area without firing a shot.

Michael McFaul, a former U.S. ambassador to Russia, said, “I think he is in a dangerous state of mind and not thinking fully about long-term consequences.”

European nations are considering sanctioning Moscow banks that Putin depends on.

Sen. Chris Murphy, a democrat from Connecticut, said, “It would effectively shut down Russia’s economy.”

While some think it’s a good idea, Sen. John McCain blamed Obama for Putin’s boldness.

He said, “Because this is the ultimate result of feckless foreign policy where nobody believes in America’s strength anymore.”

Obama said, “We are examining a whole series of steps that will ‘isolate Russia.”