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"Delusions of easy winnings still happen," Krugman wrote. "It's only a guess, but it seems likely that Vladimir Putin thought that he could overthrow Ukraine's government, or at least seize a large chunk of its territory, on the cheap - a bit of deniable aid to the rebels, and it would fall into his lap. ...Or you could look at the actual facts of how the Ukraine crisis began and realize that it was the West, not Russia, that instigated this crisis. Putin's response has been reactive to what he perceives as threats posed by the violent overthrow of elected President Viktor Yanukovych and the imposition of a new Western-oriented regime hostile to Moscow and Ukraine's ethnic Russians.
"Recently Justin Fox of the Harvard Business Review suggested that the roots of the Ukraine crisis may lie in the faltering performance of the Russian economy. As he noted, Mr. Putin's hold on power partly reflects a long run of rapid economic growth. But Russian growth has been sputtering - and you could argue that the Putin regime needed a distraction."

Behind the 2009 crisis, a similar one in 2006 and the one happening right now, we find what can only be described as squabbling Ukrainian oligarchs vying for control over the profits from Russian gas that transits through and is sold in Ukraine. In addition, there is the ubiquitous presence of the USA as it pursues its decades-long 'strategic interest' in attempting to weaken the Russian-EU energy partnership.

Comment: See also: Washington's anti-Russian narrative is pure propaganda: Six big lies about Ukraine