How the crisis in Ukraine is affecting you - WAOW - Newsline 9, Wausau News, Weather, Sports

How the crisis in Ukraine is affecting you

WAOW - From riots and flames to invasions and meetings, the unrest in Ukraine continues.

UW-Stevens Point political science professor Ed Miller says it's been a problem in the making.

"Ukraine was negotiating with the European Union with trade and various financial packages," said Miller.

But Ukraine’s president did something different.

"The president of Ukraine then turned away from his negotiations he engaged in and turned to Russia to get a guaranteed loan and grants," said Miller.

He said that decision was problematic.

"There were demonstrations that then followed because of that because quite a number of people wanted to move in the direction of the west rather than the east," said Miller.

Now that battle continues. But with Ukraine half a world away, how is it affecting us here in America and central Wisconsin?

Stocks are plummeting and bonds rising affecting 401k's. This is from Russia moving in.

"If Russia goes into the Crimea, but they stop there and don't go any other place, then the stocks might recover," said Miller.

Crude oil prices are also rising. An analyst at says crude oil is up two dollars a barrel. But he says the oil from Russia won't have a major effect on prices here in America.

"The vast majority of the oil it produces is for domestic consumption,” said Gregg Laskoski, a petroleum analyst. “It's not a major player globally."

He says that means there won't be any long term effects. Another issue here in central Wisconsin is those people with family in Ukraine.

"It affects their homeland, it affects their relatives that are still living there so that's the direct effect," said Miller.

Powered by Frankly