Putin’s Gas-Fueled Bailout of Ukraine

Putin’s Gas-Fueled Bailout of Ukraine. YaleGlobal. David R. Cameron. January 2, 2014.

Ukraine’s government has decided to link its fortunes to Russia, accepting a bailout worth billions after the European Union and the International Monetary Fund offered mere millions combined with tough conditions. Russia will settle a disputed gas bill, reduce the price of future gas deliveries, end some customs controls and import quotas recently imposed and provide financial assistance in exchange for Ukraine not signing an Association Agreement with the European Union. The scale of the bailout “made it clear that, although the consequences may be geopolitical, the impetus for Ukraine’s decision was economic and the struggle one that Europe could have won,” writes the author. The former Soviet republic is politically divided between those who support preserving deep ties with Russia and those who want to build connections with the European Union. Meanwhile, tens of thousands continue turn out in Kiev protesting corruption and closer ties with Russia. [Note: contains copyrighted material].

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