On Monday the G7 group of industrialised countries issued a statement condemning Russia's actions in the Crimea and excluding it from the G8. Meanwhile concerns about possible tougher sanctions against have been adding pressure on Russia's economy. A BBC report notes that capital flight from Russia this year is expected to reach $70bn by the end of the month, meaning more money has left Russia in the last three months than in the whole of 2013.
The power play in the Crimea is clearly taking its toll. Dr. Kampmark with the Legal and Dispute Studies program at RMIT University in Australia, sketches the historical context of the present crisis.