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Cryptocurrency Billionaire’s Political Action Committee Spends Early and Big in Race for the Oregon’s New Congressional District – Willamette Week

Protect Our Future, a political action committee funded by cryptocurrency billionaire Sam Bankman-Fried, has bought more than $420,000 in TV ads for the last week of February and the first week of March, supporting the candidacy of political newcomer Carrick Flynn for Oregons new congressional seat.

Its early in the primary for such a significant TV buyand could lead to record spending for a congressional seat if that pace continues. Bankman-Fried made his fortune with the Bahamas-based cryptocurrency exchange FTX, which sells Bitcoin, and he is seeking to influence federal regulation of virtual money, Politico reported earlier this month. (It did not report the new spending in Oregon.)

A tax-dodging billionaire in the Bahamas has no place in Oregon politics, says Robin Logsdon, a campaign manager for Intel engineer Matt West, another candidate for Oregons 6th Congressional District. I dont think the people of the 6th District are going to let himbuy a seat for his friend regardless of how much he spends.

Carrick campaign manager Avital Balwit disputes the idea the candidate is friends with the billionaire: Carrick has never met or talked to Sam Bankman-Fried.

A representative of Protect Our Future PAC did not return calls seeking comment.

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Cryptocurrency is the money of the future and is far superior to gold, Binance chief says – The National

The full potential of blockchain has not yet been realised, the founder and chief executive of Binance, the worlds largest cryptocurrency exchange by trading volume, said.

Blockchain, the technology behind cryptocurrencies, holds the potential to offer applications that are beyond our current imagination, Changpeng Zhao said in Dubai on Thursday.

Cryptocurrencies are the money of the future."

Mr Zhao was speaking during one of nine Future Talks that Dubais Museum of the Future is hosting from February 24 to March 29.

The museum opened to the public on Tuesday.

It is a great honour to be one of the first speakers in the Future Talks series and to witness first-hand the Museum of the Future it is truly fantastic, Mr Zhao said.

Once you have a couple of hundred million people using cryptocurrency, you cannot erase it

Changpeng Zhao, founder and chief executive of Binance

Blockchain has many new applications we had previously not even imagined, and it is fitting to be talking about cryptocurrencies here, at the Museum of the Future, as cryptocurrencies are the money of the future.

There has been growing interest in the cryptocurrency market in the UAE as consumers and investors flock to digital assets.

In December, Dubai World Trade Centre Authority and Binance signed a preliminary agreement to develop an industry centre for global digital assets in the emirate.

The initiative will help to expedite Dubais plans to establish a new international digital asset ecosystem, which will, in turn, generate long-term economic growth using innovation, the authority said at the time.

Mr Zhao said the main risk with cryptocurrency is the risk of not adopting it.

If you dont take that risk, you dont have the future, as you dont have the future of money.

Bitcoin is neutral, and it doesnt have borders. It doesnt side with anyone. And it can be used in any country. So, in theory, it should hold its value in this way it is far superior to gold, Mr Zhao said.

He said cryptocurrencies and blockchain are not bubbles and would not go away.

Once you have a couple of hundred million people using cryptocurrency, you cannot erase it.

Having moved from China to Canada, Mr Zhao worked in McDonalds outlets and gas stations during his teenage years. He later made a foray into independent trading by establishing a broker trading platform called Fusion Systems in Shanghai.

He was a member of the founding team of Blockchain Info, before taking a senior position with cryptocurrency company Okcoin. He founded Binance in 2017 after raising $15 million through an initial cryptocurrency offering.

Mr Zhao said strong regulations to govern the industry were important.

The industry is still young we need frameworks. It is also very important for industry players to be working closely with regulators. Some regulators like Dubai, the UAE, in many parts of the world are very, very smart about this, he said.

Binance will organise its blockchain conference in Dubai from March 28 to 30.

We should encourage people to adopt this technology, but we should adopt it in a safe way. There should be information sharing, but there has to be a balance with privacy, he said.

Updated: February 24th 2022, 6:06 PM

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Cryptocurrency Cronos Up More Than 7% In 24 hours – Benzinga – Benzinga

Over the past 24 hours, Cronoss (CRYPTO: CRO) price has risen 7.9% to $0.41. This is contrary to its negative trend over the past week where it has experienced a 6.0% loss, moving from $0.44 to its current price. As it stands right now, the coins all-time high is $0.97.

The chart below compares the price movement and volatility for Cronos over the past 24 hours (left) to its price movement over the past week (right). The gray bands are bollinger bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has tumbled 17.0% over the past week while the circulating supply of the coin has risen 0.7%. This brings the circulating supply to 25.26 billion. According to our data, the current market cap ranking for CRO is #16 at 10.43 billion.

If you are interested in purchasing Cronos and want to know the best cryptocurrency exchanges, follow this link to Benzinga Money.

Do you want to learn more about trading and be able to analyze your own portfolio of stocks or cryptocurrencies? Consider signing up for Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy. You can follow the link here to visit.

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Bloomberg and Elwood Technologies Announce Integration to Enrich Institutional Cryptocurrency Capabilities – PRNewswire

NEW YORK, Feb. 24, 2022 /PRNewswire/ -- Bloomberg and Elwood Technologies today announced a strategic integration enabling investments from clients using Elwood's market-leading cryptocurrency trading platform to flow directly into Bloomberg AIM, a leading buy-side order management system (OMS).

Elwood's comprehensive crypto native solution, with purpose-built infrastructure, delivering deep liquidity and extensive market data, is the gateway for institutional access to digital assets. The integration combines Elwood's institutional cryptocurrency trading capabilities with Bloomberg's data, analytics, and workflow tools, enabling the financial institutions and investment managers on the AIM platform to capture and manage their crypto investments alongside the rest of their portfolio for a unified investment process. Elwood will adopt the Financial Instrument Global Identifier (FIGI) for crypto assets as the common identifier for the integration.

"We are very pleased to be able to offer Bloomberg AIM clients integrated access to Elwood's market-leading cryptocurrency trading platform. It has always been our goal to provide clients with the cutting-edge capabilities necessary to manage their entire investment portfolio in an integrated manner, and this increasingly includes alternative asset classes such as cryptocurrencies," said Ian Peckett, Global Head of Buy-Side Product at Bloomberg.

The integration with Elwood is representative of Bloomberg's 'Buy Side from Every Side' philosophy and commitment to provide clients with the ability to maintain the full portfolio perspective they need for risk and exposure management when investing in innovative and alternative products without needing to fundamentally change their operating model.

James Stickland, CEO of Elwood Technologies, added, "This strategic partnership continues to deliver on our mission of providing access to digital asset markets in a way that institutions expect. We look forward to working closely with Bloomberg to simplify institutional access to cryptocurrency markets."

The integration is expected to be completed and available for mutual clients of Elwood and Bloomberg AIM in Q2 2022.

Bloomberg's Buy-Side solutions deliver front-to-back technology for the investment lifecycle, from decision support and order management, to portfolio management and post-trade services, for some of the largest asset managers, asset owners, and hedge funds. Bloomberg AIM, a leading order management system (OMS), is used by nearly 15,000 professionals at over 900 client firms globally to manage more than $17 trillion in assets. PORT is a multi-asset portfolio and risk analytics solution that delivers advanced risk and return attribution models. PORT has 47,000 active users across 15,000 client firms globally. Bloomberg's post-trade offering streamlines post-trade workflows and reduce operational risk through reconciliation, straight-through processing (STP), settlement exceptions and collateral management solutions.

About BloombergBloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company's strength delivering data, news and analytics through innovative technology, quickly and accurately is at the core of the Bloomberg Terminal. Bloomberg's enterprise solutions build on the company's core strength: leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. For more information, visit Bloomberg.com/company or request a demo.

About ElwoodElwood Technologiesis a rapidly growing global fintech, building institutional-grade digital assets trading infrastructure. Its seamless end-to-end OMS/EMS/PMS platform provides low-latency connectivity to global crypto exchanges and deep liquidity via one single API. Built by industry experts with decades of combined experience in alternative investment management, Elwood Technologies provides market infrastructure at scale, enabling financial institutions, neobanks, and corporations to access the digital asset markets quickly and efficiently.

SOURCE Bloomberg

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Crowdfunding Tips That Trigger The Emotion For More Giving – Digital Journal

The Owner Of Crowdfundur Announced This On His Twitter Page To A Large Audience

One famous crowd funders once said, Most giving is 80% emotion and 20% rational. The best way to get someones emotion is to tell a story. The owner of Crowdfundur is aware of this wise saying and has decided to implement it in the daily activities with clients. Thecrowdfunding marketing agencyannounced on Twitter the tips for successful crowdfunding. He reiterates the tips to trigger emotions for more giving.

Giving is a thing of the mind. Most people that give are more emotional than rational. So, one way to make people give more is to arouse their emotions over their rational thinking. We are Crowdfundur has four major characteristics that define our work. These are creation, motivation, dedication, and innovation. We are crowdfunding for startups, charity organizations, researchers, and more. We are open to attending to clients needs from all around the world. As an exclusivecrowdfunding agency,we always live by our words. We also offer one-on-one start to finish crowdfunding solutions to clients, said the owner of the agency.

There are many reasons people choose to work with us over othercrowdfunding marketing companiesaround. Our company has crowdfunding specialists. The experts here are known for their contributions in marketing, inventions, public relations business, and product development. With our 15 years in business, we have what it takes to crowdfund for businesses irrespective of the industry. Our esteemed customers are proud of our 98% success rate, and we are ready to give it that way. We are not part of the agencies that promise 100% compliance and success rate, but do our best to ensure results at any time, added the owner.

Visit the website at https://crowdfundur.com/ to get the knowledge about crowdfunding agency.

Information about the Tweet from Crowdfundur reached a large population of the public. Many people commented on the post. The comments center around the high success rate of the company. One of the happy Twitter users writes, Crowdfundur offers thebest crowdfunding promotion servicesthrough their qualified and experienced team of experts. The company can proffer solutions through their service. With the announcement of the best tips to record the best crowdfunding results from the owner, more people will be happy to contact them.

Crowdfundur is a renowned, exclusive, and trusted company in the crowd funding industry. They have the best approach to motivate their audiences into giving. Those interested in learning more about them, their services, expertise, and what they can offer at any time should clickhere.

Media ContactCompany Name: Crowdfundur LLCContact Person: SupportEmail: Send EmailPhone: (800) 862-4662Address:706 S Main St City: North CantonCountry: United StatesWebsite: https://crowdfundur.com/

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MContent and PwC Collaborate To Showcase Cineverse to The World – PRNewswire

This week, a high-end launch event was attended by notable guests at Palm Jumeirah Dubai where MContent premiered their original co-productions titled "Ripple vs. SEC Saga" and "El Salvador vs. World Bank". The Cinema premier however was different from the norm as participants were seen glaring at the ocean sitting at a beach wearing their virtual reality (VR) headsets engaged in an immersive Cineverse experience.

Earlier in January 2022, the leading UAE conglomerate, Gargash Group, had announced a major investment in MContent, the world's first tokenised content ecosystem that aims to revolutionise the global content landscape. Designed to convert content viewers into content owners, the first-of-its-kind platform enables crowd funding of film production and capital-intensive content creators using Cryptocurrency, NFTs and the Cineverse. The platform has already funded 11 prominent film projects across 4 continents, and now, it plans to expedite the decentralised funding deployment in content creation using the parallel Cineverse economy.

Speaking at the event, Umair Masoom, Founder & CEO of MContent said, "The immersive cinema experience - designed in collaboration with PwC and showcased to our guests today has global scalability & mass adoption capability. By bringing the Cineverse to a global audience, MContent wants to increase funding & screening opportunities for thousands of independent film makers globally. As part of the decentralised ecosystem, MContent is launching the first-of-its-kind, fully monetised content consumption platform, aiming to drive sustainable earnings for content creators and viewers."

Reza Essop, PwC Middle East's Emerging Technology Leader believes that, "This is a brilliant example of the region's movement towards digital transformation and is very much in line with major wider initiatives such as Dubai Vision 2030. MContent has defined a practical application of emerging technology with the convergence of blockchain, NFT and extended reality (XR). We are incredibly proud to have facilitated this effort as well as enabled this vision from concept to reality and to a sustainable commercialised economy that can benefit many as well as lead the way for other out-of-the-box efforts."

The premier event was attended by GCC business community members, celebrities, film makers, influencers, NFT artists, movers & shakers, blockchain enthusiasts as well as some senior members of the Gargash Group who all became the first to experience the MContent Cineverse at the beach in virtual reality with two distinct original productions.

Also present at the occasion was Dr. Lamees Hamdan, leading Emirati entrepreneur and global opinion leader who recently accepted the position of Chairperson at MContent. On the vision of MContent Dr Lamees comments, "I love the disruptive nature of MContent, the ability of helping peoples dream become a reality. Where before there were barriers, and it was almost impossible for a small creator with big dreams to access production, studios and funding, at Mcontent we are giving the control back to the creators, where all of us are funding our own destiny and that is power. What we are seeing today is a manifestation of this new reality we are creating together."

The native token of MContent is currently trading at a Market Cap of over $100 million on more than six centralised and decentralised exchanges & the platform plans to fund 100 global projects by the end of 2022.

http://www.mcontent.net

PwC has implemented and advised organisations across all industries on virtual reality (VR), augmented reality (AR) and blockchain technology, the fundamental components of the metaverse. The firm has also invested in virtual real estate on the metaverse platform The Sandbox and uses virtual world technologies to solve business problems. Jeremy Dalton, Head of Metaverse Technologies for PwC UK, said, "We now have a more immersive way to experience virtual worlds and a transparent way to transact within them. The convergence of VR, AR and blockchain to enable the metaverse concept has created opportunities and challenges for businesses across a number of industries."

Photo: https://mma.prnewswire.com/media/1754628/MContent_Cineverse.jpg

SOURCE MContent

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DOQO magnetic wireless iPad keyboard case and hub – Geeky Gadgets

Apple iPad users searching for a multifunctional iPad keyboard case and hub may be interested in the DOQO. A refined iPad case specifically designed for the iPad Pro 11 inch offering easy attachment thanks to the integrated iPad magnets the case keyboard features an integrated hub at the rear. Offering USB 3.0 PD 20W for iPad, Two USB 3.0 5Gbps Ports 2K 60Hz HDMI Port and a handy SD card and TF card slot for storage expansion and easy transfer of images or video from cameras.

Early bird pledges are now available for the inventive project from roughly $139 or 104 (depending on current exchange rates), offering a considerable discount of approximately 27% off the recommended retail price, while the Kickstarter crowd funding is under way.

Were excited to tell you that you can now take your iPad Pro 11 to a whole new level of work functionalities. DOQO 3 is the ultimate case, keyboard, and hub that is designed to improve your workflow in every possible way, allowing you to make the most of your iPad as the work sidekick you always wanted it to be!

Do you want an easy way to use your iPad Pro 11 in any circumstance as you need it at any given time? With DOQO 3, you can simply snap your Apple tablet into the devices magnetic case, and its instantly ready to work like a convenient integrated working station with every feature you could possibly want to use.

With the assumption that the crowd funding campaign successfully raises its required pledge goal and manufacturing progresses smoothly, worldwide shipping is expected to take place sometime around August 2022. To learn more about the project checkout the promotional video below.

Snapping it out when you need your iPad right back to its original standalone state is as easy and fast as snapping it inthe magnetic case is designed to provide a seamless detachable experience that perfectly accommodates your iPad Pro 11 and lets you smoothly release it in a heartbeat.

DOQO 3 is equipped with a back magnet that is extremely powerful. It supports the detachable case function and ensures both the security of your Apple tablet and the stability of your work experience. You can make the most of your iPad with the peace of mind of knowing it will never bounce, fall off, or accidentally detach.

For a complete list of all available pledge options, stretch goals, extra media and full specifications for the , jump over to the official crowd funding campaign page by visiting the link below.

Source : Kickstarter

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Karpov: A Russian MP sanctioned by the EU is a chess legend – Marca English

The European Union responded to Russia's actions in Ukraine with yet more sanctions against the Kremlin and its allies on Thursday, and one such individual who has been sanctioned is chess legend Anatoli Karpov.

The former Chess master was deputy of the Russian Duma, however the sanctions placed upon him will prevent him from moving through European territory.

He turns 71 years old in May, and has been a long-time member of Vladimir Putin's United Russian party.

He has created 46 schools for chess across the globe, however his work will now be under the microscope and be affected by the war in Ukraine.

These sanctions have been approved by the EU and they encompass a lot more famous and wealthy Russians, with 351 members of the Duma and 27 high-ranking officials also being named on the list.

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Putin moves his chess pieces while we try not to die of hunger: What Russians think about Ukraine invasi – iNews

MOSCOW Paediatrician Olga Alekseyeva could not stop crying after Vladimir Putins declaration of war against Ukraine she cried most of Thursday. The war was her personal tragedy, she told i, though she was not in Ukraine but in the northern Russian city of St Petersburg. She was convinced that any sane Russian felt the same way.

And many did. In solidarity with Ukraine, Novaya Gazeta came out in two languages on Thursday, in Russian and Ukrainian. More than 100 Russian journalists protested on social media: War has never been and never will be a solution to any conflict, there is no justification, reporters declared.

But millions of Russians felt completely indifferent, ignoring the devastation and panic in their neighbouring country. Restaurants, coffee shops, galleries and theatres were full of visitors on Thursday, as if it were a normal night both in St Petersburg and in Moscow.

Figures from pop culture tried to puncture the bubble, with a dozen of the countrys most prominent pop stars speaking out against the war.

And Nobel Peace Prize winner Dmitry Muratov, chief editor of Russias only independent newspaper, Novaya Gazeta, said in a video address that there was nobody in Moscow who could stop the war, because President Putin was spinning the nuclear button in his hand like an expensive key chain.

There was only one way out of this overwhelming feeling of shame, he said, a powerful anti-war movement all across Russia. According to Levada Centres social polls, 61 per cent of Russians lived with a constant fear of war this year, and the majority did not want the one against Ukraine. But the Kremlin did not pay attention to public opinion.

Neither sanctions nor the freezing of the Russian elites assets have been able to stop the war, so far. Russian authorities continued to insist that demilitarisation of Ukraine was the only solution the Kremlin had left and blamed all violence on Ukraine.

Sometimes I think that Putin and Russians speak different languages he lives in his bunker moving chess pieces around and we save money, think of how not to die from hunger and stock up on buckwheat, Moscow university professor Veronika Petrovna told i on Thursday.

Russian opposition party Yabloko collected signatures under a petition against the war. The number of people signing our petition has jumped from about 26,000 names last night to more than 40,000 today, the local deputy from Saint Petersburg, Boris Vishnevsky, told i, as Russian tanks broke the state border in Kyiv region on Thursday afternoon.

We have been warning Russians about the coming war for a year but unfortunately, very few listened to us.

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Putins moves are hardly chess thumping – The Hindu

The Russian Presidents actions this week may yield tactical gains but hardly pass the test for strategic victory

The Russian Presidents actions this week may yield tactical gains but hardly pass the test for strategic victory

Diplomacy has retreated as the smouldering Ukraine crisis took a decisive turn this week. On February 24, Russian President Vladimir Putin launched special military operations with the objective of demilitarising Ukraine but not occupying it. Just days prior to this, Russia had upped the ante by recognising the sovereignty of the Peoples Republics of Donetsk and Luhansk, two of Ukraines easternmost provinces and deploying Russian peace-keeping forces in these territories. A meeting between United States Secretary of State Antony Blinken and Russian Foreign Minister Sergei Lavrov stands cancelled and the prospects of a summit between U.S. President Joe Biden and Mr. Putin have evaporated into thin air.

The Russian actions have been strongly condemned and sanctions imposed by the U.S., the European Union (EU), the United Kingdom, Australia, Canada and Japan. After 1945, this is the second time that national boundaries are being redrawn by force; the first was the 1999 North Atlantic Treaty Organization (NATO) air strikes on Serbian forces that led to the creation of Kosovo. Russian and Chinese protests about NATO undertaking out of area operations without United Nations Security Council approval carried little weight.

In the post-Cold War world that promised a rule-based liberal international order, clearly the message from Thucydides Peloponnesian Wars still held the strong do what they can and the weak suffer what they must.

In 2022, Russia has fired the first shot but NATO is not blameless either. The Ukrainian crisis has been in the making for over a decade. After the fall of the Berlin Wall in late-1989, then U.S. Secretary of State James Baker was meeting Soviet President Mikhail Gorbachev in Moscow in February 1990 to help ease the way for German unification. He assured Mr. Gorbachev that NATO understood the need for assurances to the countries in the East, adding that even with Germany a part of NATO, there would be no extension of NATOs jurisdiction one inch to the east.

By end-1991, USSR had broken up into 15 countries; Mr. Gorbachev faded into history and a change in the White House was under way. Rather than look for a new European security framework, the newly independent Baltic and central European states sought security in a U.S.-led NATO. The old caution that the cost of expansion goes up as it reaches closer to the Russian border was discarded and NATO adopted an open door policy.

Beginning in 1999, NATO has added 14 new members in stages. At the NATO summit in 2008, at U.S. President George Bushs urging, an in-principle opening for Ukraine and Georgia was announced, though France and Germany, conscious of Russian concerns, successfully opposed defining a time frame. It was a bad compromise and the damage was done.

Later that year, Russia intervened in Georgia on the grounds of protecting the Russian minorities and took over the northern provinces of Abkhazia and South Ossetia. In 2014, following the Euromaidan protests against the pro-Russian President Viktor Yanukovich, Mr. Putin annexed Crimea. For Russia, Crimea is vital as the peninsula hosts Russias Black Sea fleet, providing it access to the Mediterranean and its bases at Latakia and Tartus in Syria. At the same time, pro-Russia separatists, assisted by Russian mercenaries, created autonomous regions in the Donbas region.

Despite no timeline for membership, Ukraine was made a NATO Enhanced Opportunity Partner in 2020. The presence of British and U.S. warships in the Black Sea began to increase. In 2019, the U.K. entered into a cooperation agreement with Ukraine to develop two new naval ports, Ochakiv on the Black Sea and Berdyansk on the Sea of Azov, a move that Russia saw as potentially threatening.

Clearly, Mr. Putins grievances, beginning with NATOs bombing of Serbia in 1999, interventions in Afghanistan, Iraq and Libya and colour revolutions to engineer regime changes, the U.S. unilateral withdrawal from the Anti-Ballistic Missile (ABM) Treaty in 2002 coupled with missile defence deployments in Poland and Romania that Russia perceived as offensive, were accumulating.

France and Germany initiated talks between Ukraine and Russia under the Normandy format leading to the Minsk agreements, in 2014 and 2015. The first was for a ceasefire between Ukraine and the Russian-backed separatists and the second was between Ukraine, Russia, the two separatist regions of Luhansk and Donetsk and the Organization for Security and Co-operation in Europe (OSCE). Supportive declarations by France and Germany were intended to address Russian security concerns. Ukraine undertook to introduce certain constitutional amendments to provide a degree of autonomy to the two provinces and Russia was to assist in withdrawal of all foreign forces. However, neither side implemented and positions have only hardened since.

In the intense diplomacy during the last six weeks, particularly the back-to-back visits by French President Emmanuel Macron and German Chancellor Olaf Schulz to Moscow and Kiev, there was talk of reviving the Normandy format. But Ukrainian President Volodymyr Zelensky was in no mood to oblige with over 1,50,000 Russian troops poised on his border and Mr. Putin was looking for his own face saver. Mr. Macron has a difficult re-election coming up in April and Chancellor Schulz has already been criticised for being soft on Russia because of energy dependency.

Mr. Biden faces a critical mid-term election in November that could see the Senate shift to Republican control and had already faced considerable flak for the messy withdrawal from Afghanistan last year. His aim was to ensure trans-Atlantic unity in NATO. Russias threatening moves made NATO members, especially the Baltic states (Estonia, Latvia and Lithuania) and the central Europeans like Poland and Romania, especially nervous. Finally, NATO remained united but unable to provide an off-ramps solution.

With a military force of 2,00,000 and an equal number of reserves, prudence dictates that Mr. Putin would not want to take over Ukraine. However, the separatist groups that currently control only part of the provinces of Luhansk and Donetsk would want to extend their territory beyond the current Line of Contact dividing the separatists and the Ukrainian forces.

Along the Black Sea coast, Russia could seek to extend a coastal corridor to the Crimean Peninsula. This would cement its hold on the Sea of Azov, giving it control over Mariupol and Berdyansk and restrict Ukraine to Odessa in the west.

Ideally, Mr. Putin would have liked to bring about a regime change in Kiev, but that seems unlikely now. Domestic troubles in Belarus have made President Alexander Lukashenko, in power since 1994, dependent on Russian support. Both countries announced that the 35,000 Russian soldiers, in Belarus for joint exercises that concluded on February 20, would stay on for training cooperation and inspections. A Russian military presence in Belarus puts pressure on the 65-mile long Suwalki corridor that constitutes the boundary between Lithuania and Poland and more importantly, separates Belarus from Kaliningrad, the Russian enclave on the Baltic Sea that hosts its Baltic fleet.

Mr. Putin may claim victory in the near term, but in the long term, he has over-reached himself. NATO has been rejuvenated, the trans-Atlantic unity strengthened and Russias economic ties with Europe have been adversely impacted. Given Russias considerable foreign exchange reserves, of nearly $640 billion, sanctions imposed by the U.S. and EU may not hurt immediately but eventually will begin to bite both the oligarchs and the common people. Worse, Russia will become more dependent on China for political support as well as a market for its energy exports. This will eventually weaken its hand in central Asia.

Russians have been the greatest chess players and President Putin knows that a move on the chessboard will close certain options while opening up others. The challenge is to constrain the adversarys options while increasing ones own options and space for manoeuvre. His actions this week may yield tactical gains but hardly pass the test for strategic victory.

Rakesh Sood is a former diplomat and currently Distinguished Fellow at the Observer Research Foundation

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