At the end of February 2014, there was an outbreak of war between Russia and Ukraine which resulted in Russia army took over the military facility, airport and TV stations in Crimea of Ukraine. There were some serious fight between the Ukrainian defendant forces and Russian soldier in early March and Russia ended up in control of Ukraine in early April (Erlanger, 2014). The whole objective of military intervention is to influence the result of referendum for voting against joining the Russian Federation. In April, Russia government has announced several times the withdrawal of army from the border of Ukraine but there is no evidence showing that had happened (AF, 2014). On 7th May, Russia Prime Minister Vladimir Putin claimed that they have withdrawn their troops back to their normal positions (Daily News, Brown and Lowen, 2014).

A number of countries condemned and expressed great concerns over the Russian intervention in Ukraine (The Telegraph and BBC News, 2014). It is proven that Russian Army had attempted to control the military base of Ukraine using the unmarked army forces and the troops remained stationed in Ukraine (Ukranian Independent Information Agency, 2014). The international reaction expressed supportive of Ukraine’s sovereignty and territory integrity, while also supportive of finding a quick end to the crisis (The Telegraph, 2014). The United States and the European Union threatened and enacted sanctions against Russia for the causing of the crisis. Russia has accused the United States and EU of funding and directing the revolution and retaliated to the sanctions by imposing a serious of responsive measurements (International Business Times, 2014). The United States, the European Union, Canada, Switzerland, and other nations have adopted a series of targeted asset freezes and travel bans, which vary in scope, as well as broader trade restrictions against Russia. The sanctions have targeted several dozen former Ukrainian officials, officials in the Ukrainian region of Crimea, senior Russian officials, members of the Russian Government's inner circle, and a Russian state-owned bank, Bank Rossiya. These measures create a variety of new compliance challenges for US and foreign firms and are likely to be followed by additional sanctions, unless there is a de-escalation of political tensions in the region (YouTube, 2014).

The US and EU have also imposed a series of broader trade restrictions on Russia, including a freeze of EU-Russia trade talks and a suspension of US licensing for exports and re-exports of defense items and dual-use equipment by the US Departments of State and Commerce, respectively. Negotiations on Russia's accession to the Organization for Economic Cooperation and Development (OECD) and the International Energy Agency (IEA) have also been suspended. At the same time, Russia has retaliated with similar targeted sanctions against a variety of US and other officials, and a series of tit-for-tat measures could continue (Lavine et al, 2014).