Russia and the United States-led NATO coalition have been at loggerheads over Ukraine ever since the Crimean peninsula was "annexed" by Russia in 2014. Currently, the eastern regions of Ukraine are under the control of Russian-backed separatists and now the West is alleging a large-scale Russian troop build-up in the region.

NATO has responded with its own deployment of troops and armaments to the eastern border of Ukraine. The EU has also warned of unprecedented sanctions against Russia if it goes ahead with its "invasion" of Ukraine, an intention that Moscow denies.

In December 2021,  Britain has also officially stated that Russian president Vladimir Putin is planning to install a client regime in Ukraine. Global markets registered apprehension regarding the possibility of significant conflict in the region.