The Valahia Crisis, or the Valahia War was a military conflict that took place on Earth in the timeline presented in Ace Combat X2: Joint Assault.
The origins of the conflict lay in the Global Recession of the late 2000. Businessman Andre Olivieri, owner of a massive insurance company Olivieri Insurance, devised a way to increase his profits. He made contact with Nicolae Dumitrescu, the leader of the Euro-Asian communist terrorist organization 'Valahia', and formed an agreement with him: Olivieri would pay the organization to launch armed attacks on high-profile locations throughout the world. The attacks would incense people to purchase the War Insurance Olivieri sold, making his company even more wealthy and powerful.
Dumitrescu agreed to the plan, although he had ulterior motives.
The Conflict Begins
Valahia revealed itself to the world on November 13th, 2010 when they caused the Midway Incident, an aerial skirmish between them, US, Japanese, and PMC forces during a regional military exercise. What would follow was a month long assault on the Japanese Home Islands with air, land, and sea forces, including attempts to bomb Tokyo with the Spiridus, a large airborne weapon platform.