Moscow is approaching, Brussels is moving away. Kiev avoided bankruptcy by signing an aid deal with Russia, after deciding to suspend that one to strengthen ties with the European Union.
The pact with Moscow concerns supplies of Russian gas, the price of which has been reduced, and the elimination of obstacles in bilateral trade. In addition, Russia will buy 11 billion euros of Ukrainian bonds. But there are those who are wondering, especially the demonstrators who are calling for rapprochement with the EU, what Ukraine will offer in return. To sign the treaty with Europe, Kiev had asked Brussels for funding of 20 billion euros.
The protest movement, which has brought thousands of pro-EU people to the streets, believes that its president Viktor Yanukovic has sold out the country to Russia and is asking the Government to resign.
The Ukrainian head of state, for his part, claims the effort made in recent months to bring the trade balance back to positive. “A fact that underlines – he added – how strategic our relations are”.
Ukraine needs to plug a 12 billion euro hole next year to avoid default. The country depends on Russian gas imports and something like 75% of Ukraine's engineering works end up in Moscow.
