Update(1500ET): Russia has issued its first statements in the wake of conflicting reporting concerning the suspected missile attack on Polish territory, just across the border with Ukraine. Russia is calling the reports a “deliberate provocation” and is denying that its forces have aimed any missiles near the Ukraine-Poland border, per Interfax news.
The Russian Defense Ministry issued a statement saying it has not taken part in “strikes against targets near the Ukrainian-Polish border” using “Russian weapons” – as is being alleged by Polish sources. The Russian statement further said it’s Warsaw’s attempt to escalate the situation. The Pentagon has meanwhile said it can’t corroborate the reports at this early stage but is gathering more information. A Pentagon spokesman vowed the US stands ready to “defend every inch of NATO territory.”
According to Polish radio broadcaster Radio Zet, local reports have said what hit Przewowo is most likely the remains of a rocket shot down by Ukraine’s armed forces. But there are conflicting and many unconfirmed claims still circulating. The US State Dept. said, “We are working with the Polish government to collect information and assess what happened.” It also called the reports “incredibly concerning.”
Below is the full Russian statement in response:
Russia’s defence ministry has denied reports that Russian missiles hit Polish territory, describing them as “a deliberate provocation aimed at escalating the situation”.
“No strikes on targets near the Ukrainian-Polish state border were made by Russian means of destruction,” it said in a statement.
Wreckage reportedly found at the scene “has nothing to do with Russian weapons”, it added.
Meanwhile “Article 5” is trending on Twitter.
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Are we about to test Art Cashin’s thesis that you should never bet on the end of the world (i.e. sell stocks as the ICBMs start flying). As a reminder:
Art Cashin, the dean of the NYSE floor, told a story on Tuesday at Barry Ritholtz’s Big Picture conference in midtown that illustrated this point perfectly. It was in the days before the Cuban missile crisis. Mr. Cashin was a young trader. One day a rumor mushroomed that the Russians had launched their missiles. World War III was starting. Mr. Cashin ran across the street to find the best trader he knew – who was in a bar having a drink. Mr. Cashin ran in breathlessly, hardly able to talk.
“Stop,” the trader said. “Have a drink. Explain everything.” After hearing all the information, the trader had one order: “Buy. Don’t sell. Buy.”
“Why?” Mr. Cashin wondered.
“Because if you’re wrong, the trade’ll never clear. We’ll all be dead.”
Well, moments ago futures ignored the venerable market strategist’s words and tumbled after a report from Polish Radio ZET according to which two stray rockets fell in the town of Przewod?w on the border of NATO-member Poland with Ukraine (while unreported, the prevailing assumption is that the rockets are Russian).
The Associated Press is also confirming, citing a senior US intelligence official who says two people were killed by the missiles. However, the Pentagon followed by saying it cannot corroborate the reports at this time. Stocks quickly reversed higher on the headline.
And Polish sources are reporting – albeit emphasizing the report is still unofficial – that Polish military planes have been scrambled out of the airport near Tomasz?w Lubelski. “The Polish Air Force took fighter jets into the air from the Tomaszow-Lubelski airfield in the Lublin Voivodeship,” the local reports say.
Location of the missile strikes on the Polish border town.
The rockets reportedly hit the grain dryers, leading to two casualties. The police, the prosecutor’s office and the army are on site.
And as Bloomberg also confirms, Polish Prime Minister Morawiecki has convened an urgent meeting of the Committee of the Council of Ministers for National Security. Hungarian PM Viktor Orban has also reportedly convened a national defense council meeting.
Estonia has meanwhile issued a statement saying it is “ready to defend every inch of NATO territory, We’re in full solidarity with our close ally Poland,” according to its ministry of foreign affairs.
The news has sent futures tumbling.
And further on the news:
US DEFENSE STOCKS JUMP TO SESSION HIGHS; NORTHROP UP 5%
It will be amusing when reputable news sources deny the whole thing but for now, stocks are dumping and are red on the day after soaring more than 2% earlier.
Hours earlier in the day Ukrainian authorities were reporting a series of fresh missile attack on the capital, and rare airstrikes in Western regions as well, including the city of Lviv.
This resulted in new emergency power outages across various cities effected.
Meanwhile, NATO’s collective defense article is trending on Twitter, which is never a good sign…
developing
