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To see even higher-res version, click here.

If you question the strategic location of Ukraine, check out this map that Agence France-Presse made last in December — two months before protesters in Kiev forced President Viktor Yanukovych out of office.

Russia has now invaded the strategic Black Sea peninsula of Crimea, and markets are spooked at the possibility that Russian troops that are being built up on the border could enter eastern Ukraine.

As the international tug-of-war for Ukraine continues, the tension involving economic relations in the region — especially regarding gas flow from Russia to both Ukraine and Europe — will increase.

Germany is perhaps the best example of this, as described by Noah Barkin of Reuters: ”Heavily dependent on Russian gas and closer to Moscow than any other leading western nation, Germany faces a major policy dilemma as the Ukraine crisis descends into a Cold War-style confrontation of tit-for-tat threats and ultimatums.”

- Michael Kelley

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