Perennial bad actor Russia appears to be on the brink of invading neighboring Ukraine, a former part of the empire called the USSR. Some 100,000 Russian troops are bivouacked just across the border in the snow, waiting for the "go" code.
If they're going to invade, they need to do it before the spring thaw, when everything becomes bogged in mud. Ukraine claims it will fight, nobody much expects Ukraine to win.
People who claim to know say the Russians want to install a puppet regime in Kiev. One which will be aligned with Russian aims and less enamored of the EU.
What to watch for in the coming days? Diplomatic blunders which add up to a broader war in Europe. Let's hope they do not occur.
That the US has a geriatric President - widely perceived to be weak - only makes the situation more fraught.