Some things I've read give me the impression that the fight over Crimea isn't about shipping or any other practical use of the land as much as it's about emotional ties and its historic role in the birth of Russian culture.
edit: via wikipedia I'm learning that might be a manufactured history.
Yes, it mostly is. From wikipedia:
Since c. 700 BC, the peninsula has changed hands several times, with all or part having been controlled by Cimmerians, Bulgars, Greeks, Scythians, Romans, Goths, Huns, Khazars, Kievan Rus' (the historical precursor to the modern states of Belarus, Ukraine, and Russia), the Byzantine Empire, Venice, Genoa, Kipchaks, the Golden Horde, the Ottoman Empire, the Russian Empire, the Soviet Union, Germany, Ukraine, and now, perhaps, the Russian Federation.
It was officially annexed to Russia in the 1700's, when the Ottoman Empire couldn't defend it any longer. there were no ethnic Russians there in any significant number for a long time. It would be like George W. Bush claiming Guam played a part in the birth of American culture.
I don't know about this situation anymore. Some of Putins cabinet are making some pretty inflammatory remarks; one said he could give a fuck about sanctions because the only thing the US has he likes is Tupac. another mentioned that Obama needs to remember Russia is the only country capable of turning all of America into a pile of nuclear ash (China disagrees), even mentioning how systems are fully automated with all targets preselected so even if we hit them first, retaliation is assured. And I thought we has a treaty for a while were we were not actively targeting each other?
So one is saying fuck your sanctions, the other is saying come fuck with us we'll blow up the world.
And then there are these guys:
those guys are crazy!
I'm thinking Russia is in some dire straits itself, much like Ukraine was at the beginning of this crisis. if you look at all the billions transferred out of Russia to Switzerland, Austria, London, and NYC, you have to wonder how their own government is staying solvent. if you remember that Magnitsky (sp?) scandal (look it up) they basically murdered that lawyer who discovered a scheme by which Putin's own allies were bilking hundreds of millions of dollars from the Russian treasury through tax fraud.
Maybe this instability has caused them to act irrationally... I don't know. But I'm not sure what exactly they hoped to accomplish by militarily occupying Crimea.
they seemed to have underestimated the strength and determination of the protests in Kyiv... so a miscalculation on their part of whether Ukraine, the EU, US, and UN would allow an invasion & annexation to be legally recognized would not be unexpected. Now they either need the west to agree to recognize Crimean independence from Kyiv and annexation by Moscow, or find some way out while saving face.