(Reuters) - President Vladimir Putin said on Tuesday that Russia saw no need to use military force in the Crimea region of Ukraine for now, in remarks apparently intended to ease East-West tension over fears of war in the former Soviet republic.
The use of force by Russia in Ukraine would be a choice of last resort, Putin said, and sanctions being considered against Moscow by the West would be counter-productive.
Putin told a news conference at his state residence outside Moscow there had been an "unconstitutional coup" in Ukraine and ousted leader Viktor Yanukovich, an ally of Russia, was still the legitimate leader of the country despite giving up all power.
Earlier on Tuesday, Putin ordered troops involved in a military exercise in western Russia, close to the border with Ukraine, back to their bases.
in other news The MICEX was up 5.19 percent at 16.00, Moscow time, with the RTS adding 5.93 percent. This marks a major turnaround from Monday, when the ruble-based MICEX dropped 10.79 percent on Monday, and the dollar-based RTS index fell 12.01 percent, the lowest level since September 2009. On the same day the ruble hit an all-time low against both the dollar and euro. Most analysts attributed the fall to the growing tension over Ukraine.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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