| Author (Person) | Rettman, Andrew |
|---|---|
| Series Title | EUObserver |
| Series Details | 18.12.13 |
| Publication Date | 18/12/2013 |
| Content Type | News |
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Ukrainian President Viktor Yanukovych opted for a no-strings-attached Russian bailout instead of the EU alternative. He made the agreement at a meeting with Russian President Vladimir Putin in Moscow on the 17 December 2013. Under the accord, Putin promised to use money from Russia's National Welfare Fund to buy $15 billion of distressed Ukrainian bonds. Russia also promised to cut gas prices from $400 or so per thousand cubic metres to $269 until 2019, saving Ukraine up to $2bn a year. Speaking in Brussels on the day before, Russian foreign minister Sergei Lavrov accused the European Union of trying to impose a free trade agreement on Ukraine that would likely ruin its economy. He also he advocated a “unified economic and humanitarian space from Lisbon to Vladivostok” to be established between the EU and the Eurasian Union. EU foreign affairs chief Catherine Ashton said that foreign ministers “confirmed the EU’s readiness” to sign the Association Agreement with Ukraine, adding that the signing should have no negative effects on Russia. Ukraine's Russian-backed President, Viktor Yanukovych, has said he strongly opposes Western politicians intervening in the crisis in Ukraine. In the meantime, business chiefs joined a growing chorus of senior politicians demanding the EU to adopt a more conciliatory stance on negotiations with Russia, currently chilled as a result of the tug-of-war over Ukraine. European Parliament President Martin Schulz and other EU leaders have reaffirmed the EU's position that the door remains open to the Ukrainian people after its government's decision to put on hold its EU association process last month in favour of closer relations with Russia. |
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| Source Link | Link to Main Source http://euobserver.com/foreign/122526 |
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| Countries / Regions | Europe, Russia, Ukraine |
