Well, Russian President Dmitry Medvedev kept his promise to the presidents of South Ossetia and Abkhazia: on August 26, he signed decrees recognizing the independence of these republics and, in a televised address made after the Security Council meeting, called on other countries to follow Russia's example.
The decision was made after both chambers of the Russian parliament unanimously supported an appeal to Medvedev with a request to recognize the independence of the republics. Other countries have already expressed their concerns about this. After Medvedev’s statement, the French Foreign Ministry called his decision regrettable.
Medvedev assured TV viewers that until now Russia has always adhered to the principle of Georgia’s territorial integrity and called on it to sit down at the negotiating table with South Ossetia and Abkhazia and sign an agreement on the non-use of force, but the Georgian leadership took a different path and “chose genocide to solve its political problems” , which dashed “all hopes for the peaceful existence of Ossetians, Abkhazians and Georgians
in one state."
The decision, as Medvedev said, was made in accordance with the UN Charter, the 1970 Declaration on the Principles of International Law relating to Friendly Relations between States, the 1975 Helsinki Final Act of the CSCE, and other fundamental international documents.
The president's statement accelerated the decline of the Russian stock market. By 15:06 Moscow time, the RTS index amounted to 1551.34 points (-5.85%), the MICEX index - 1256.46 points (-4.86%), the collapse in prices of liquid shares reached 3-10%.