Article 16G8N Why Ukraine needs Russia more than ever

Why Ukraine needs Russia more than ever

by
Nicolai Petro
from on (#16G8N)

With country at risk of becoming a failed state, Kiev must recognise that economic survival depends on Moscow not the west

In January Ukraine's president, Petro Poroshenko, congratulated the country on surviving its first winter without buying Russian gas. It had instead bought European gas which, as Poroshenko pointed out proudly, was 30% more expensive.

This sums up the core problem facing the Ukrainian economy. It is not corruption, a serious issue about which little can be done in the short term, but the ideologically driven choice to sever all ties with Russia, the country that has historically been its major trading partner and chief investor.

Related: Economic minister's resignation plunges Ukraine into new crisis

Related: No regrets over Ukraine split, but Crimeans want more love from Russia

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