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Friday, 6 December 2013

Ukraine Stumbling Back Into Gazprom’s Welcome Embrace - MoneyBeat - WSJ

Ukraine Stumbling Back Into Gazprom’s Welcome Embrace - MoneyBeat - WSJ:

"The uneasy standoff in Ukraine has shown the true extent of how the country is torn between the comforts of familiar ways and the possibilities of new beginnings.

The country’s 11th-hour volte face on a trade deal with the European Union means that, once more,  it will become reliant on the largess of its eastern neighbor and former master, Russia. And this comes despite Moscow having turned the gas off on Ukraine twice in the past seven years.

European leaders want a resolution to the crisis that is paralyzing Ukraine. Russia is making hay, alternatively decrying Europe’s reaction as “hysterics” and denouncing the protests as “pogroms” fomented by foreign forces, depending on who is listening.

As a consequence of all this, a delegation from Ukraine failed to show up to sign a deal that could open a natural gas supply route via Slovakia. The deal would have opened up a major gas supply route to Ukraine that could have significantly reduced Kiev’s dependence on Russian supplies."

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