-
Russia to end Ukraine’s supply of electricity to Crimea
It appears as though Moscow will end a contract with Kiev that ensures the delivery of electricity to the Crimea. Having illegally annexed the peninsula in early 2014, Russia insists that Ukraine remove any language from the contact that stipulates that the Crimea is part of Ukrainian territory. Kiev is determined not to give in.
Kremlin Press Secretary Dmitry Peskov asserted that if Ukraine does not agree to change the wording, Russia is most likely to abandon the contract. "It can be assumed …
-
Moscow to sue Kiev over $3 billion debt
The Russian Ministry of Finance has declared that Kiev is in a “state of default”, and that Moscow is taking legal action against Ukraine. The $3 billion Eurobond debt owed to Russia was loaned during the reign of former president Viktor Yanukovich in 2013 under the stipulation that Ukraine forgo any steps towards European integration, namely the ratification of the Ukraine–European Union Association Agreement.
Russian authorities have contacted the Law Debenture Corporation and initiated the …
-
Poroshenko cautiously optimistic for 2016
During his annual New Year’s address, Ukrainian President Petro Poroshenko acknowledged the country’s accomplishments in 2015, saying that Ukrainians have become "not only older, but also wiser and stronger."
While Poroshenko recognized the sacrifices of Ukrainian soldiers who are “not at the festive table, but in the cold winter trench… those who are now standing with guns, not wine glasses”, his address highlighted the path that Ukraine is taking towards integration with Europe.
“It is …
-
Herashchenko calls for presence of EU peacekeepers in Donbas
The Ukrainian President’s envoy to restore peace in the Donbas region, Iryna Herashchenko, wrote on her Facebook page that the entry of a European Union peacekeeping mission to the conflict area in eastern Ukraine has become even more necessary.
“During a telephone conversation with the members of Normandy Quartet, the Ukrainian President asked the European Union to send a peacekeeping mission to Donbas. In the context of European security, monitoring the fragile situation in the Donbas region …
-
Russian ruble hits lowest level in a year
On December 30th, the Russian ruble reached its lowest level against the U.S. dollar in a year, falling to 73 rubles and 20 kopecks to the dollar.
The ruble lost 40 percent of its value last year. Its present value is 20 percent lower than a year ago. This is an indication of how the Russian economy has suffered from Western economic sanctions and falling oil prices.
Russia's economy was hit hard by the sanctions imposed by the United States, the European Union and other countries. The …