Scoring Points Amid the Standoff Over Ukraine

A joint exercise between the armed forces of Russia and Belarus on Feb. 12.

Photographer: Leonid Shcheglov/Belta/AFP/Getty Images

Ukraine’s president used to be a comedian but jittery markets didn’t get the joke when he sarcastically announced a Russian invasion may begin tomorrow.

Now Russia’s getting in on the act, declaring it plans to start the withdrawal of some troops from near the border today, just as the West warns the crisis may be at its most dangerous period.