William Katz:  Urgent Agenda

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CEASEFIRE?  THERE'S A CEASEFIRE? – AT 10:58 A.M. ET:   Even the Obama administration is condemning Moscow on the eve of a so-called "ceasefire" in Ukraine.  From WaPo: 

MOSCOW – The Obama administration on Saturday released satellite images that it said showed that the Russian army had joined rebels to mount a full-scale assault on surrounded government troops in eastern Ukraine, hours before a cease-fire set to take effect at midnight.

A ceasefire deal reached Thursday gave a two-and-a-half day window before the shooting was actually supposed to stop, sparking fears of an uptick in fighting as both sides tried to capture ground. What has actually happened, according to Ukrainian troops, leaders and the United States, is a major offensive on the Ukrainian-held railway hub of Debaltseve. Thousands of Ukrainian soldiers are said to be bunkered there on a spit of land deep in rebel-held territory.

Russia has denied that it is a party to the conflict, and it was impossible to verify the three grainy black-and-white images posted on Twitter by U.S. Ambassador to Ukraine Geoffrey Pyatt. According to the United States, the images, commissioned from the private Digital Globe satellite company, showed artillery systems and multiple-rocket launchers on Thursday in the area near Debaltseve.

COMMENT:  Does anyone trust Putin?  He may allow a lull for a time, showing himself the peacemaker, but he's unlikely to give up his dream of taking Ukraine. 

Or, he may hold off in Ukraine, and probe somewhere else, possibly a NATO country.  He is intent on restoring the old Soviet empire.  But he'd better do it quickly.  Obama leaves office in less than two years.

February 14,  2015