AMHERST, Mass. (WWLP) – Russian troops continued to move into the Ukrainian peninsula of Crimea on Monday.
22News discovered what type of impact could be felt here if this crisis escalates.
Ukraine’s former president told the United Nations Security Council in a letter on Monday that the country is on the brink of civil war; there is chaos and anarchy.
Tensions were high in Ukraine on Tuesday as Russia’s next move in the Crimean peninsula is unclear.
Sergey Glebov is an assistant professor of history at Amherst and Smith College. He believes that the United States should not get its military involved.
“A military option is not an option, this is a nuclear power, arguably the 2nd nuclear power in the world, I don’t think the United States militarily can intervene”, said Glebov.
If the situation in the Ukraine escalates the price of gold and diamonds could go up here.
“The finest diamonds in the world are imported from Russia, and if there’s issues between us and Russia, they’re not going to be exporting them”, said Brad Matthew of Brad Matthew Jewelers in Holyoke.
Matthew told 22News an impact on the diamond market could take up to six months, but gold prices are much more volatile.
Glebov believes the largest impact will be felt in Russia. He says if Russia begins military strikes, there could be massive refugees across Europe and Russia could face economic sanctions, but don’t expect this to cause another cold war.
“I do expect consequences I don’t think they’ll be in the United States or they’ll be felt directly in the United States”, said Glebov.
President Obama on Monday said the United States is looking at economic and diplomatic steps to isolate Russia and is working on an economic assistance package for Ukraine.