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March 3, 2014

Russia Seizes Parts of Ukraine's Crimea amid Standoff with U.S. 
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Russian troops have seized part of Ukraine's Crimean Peninsula in what
has become Moscow's biggest confrontation with the West since the Cold
War. The troops took action after Russia's Parliament gave President
Vladimir Putin a green light to protect Russian interests following the
ouster of Ukraine's pro-Russian prime minister, Viktor Yanukovych.
Earlier today, Russian troops seized a Ukraine Coast Guard base in the
Crimean city of Balaklava. On Sunday, the new head of Ukraine's navy
defected to Russia. The United States and other nations say they are
suspending preparations for this year's G8 summit in Sochi, Russia.
Speaking on NBC's Meet the Press, Secretary of State John Kerry said the
United States could impose sanctions to condemn Putin's actions.

John Kerry: "Russia is going to lose. The Russian people are going to
lose. He's going to lose all of the glow that came out of the Olympics,
his $60 billion extravaganza. He is not going to have a Sochi G8. He may
not even remain in the G8 if this continues. And he may find himself
with asset freezes on Russian business. American business may pull back.
There may be a further tumble of the ruble. There's a huge price to
pay."

The crisis has hit Russian markets, with Moscow's main stock index
tumbling 9 percent. We'll have more on Ukraine after headlines.