TODAY: Kiev, NATO say Russian troops have begun direct invasion; soldiers in eastern Ukraine are on ‘patriotic holidays’, says state television; Obama considers response, rules out military action; world leaders to hold emergency meetings; FBI investigation shows Russian hackers behind JPMorgan attack; Putin’s approval rating drops slightly; Rosneft privatisation plans unchanged.

NATO says Russia now has over 1,000 troops in Ukraine, calling the current situation ‘a severe escalation’.  Kiev says Russia has begun a ‘direct invasion’, with Ukrainian President Petro Poroshenko citing deliveries of ‘huge loads of arms’; and the Prime Minister called on Europe and the United States to freeze Russian assets in punishment until troops are pulled out. The Defense Ministry continues to deny the presence of Russian military units in Ukraine; viewers of state television in Russia were told that some Russian soldiers are fighting with rebels in eastern Ukraine – but that they were only there on ‘patriotic holidays’.  The U.S. responded to the news by openly accusing Russia of sending combat forces into Ukraine, but fell short of using the word ‘invasion’; President Barack Obama has ruled out military action, and is considering imposing further punitive economic measures.  In the mean time, Bloomberg wants to know why no anti-Russia sanctions as yet have targeted Gazprom.  The U.S. national security council, U.N. security council, NATO, and E.U. leaders are all holding emergency meetings this week.