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Rusia to give Ukraine $2 billion

Staff writer ▼ | February 18, 2014
Russia said it will give Ukraine a fresh cash injection of $2 billion (€1.46 billion) to support its heavily indebted economy, a boost to the embattled president in Kyiv.
Vladimir Putin
Vladimir PutinRussia said it will give Ukraine a fresh cash injection of $2 billion (€1.46 billion) to support its heavily indebted economy, a boost to the embattled president in Kyiv.


Viktor Yanukovich is contending with an opposition-led street revolt after he walked away from a trade pact with the European Union in November and opted instead for forging closer economic ties with Russia, Ukraine's former Soviet master.

With the opposition, backed by the United States and its EU allies, pressing hard for Yanukovich to allow the formation of an independent government, the Kremlin had hinted strongly that a $15-billion (€11 billion) lifeline would be frozen unless he produced a new government acceptable to Moscow to replace the prime minister who was removed three weeks ago to appease the protesters, reports EurActiv.

Ahead of a parliament session in Kyiv, when prospects for a new government are to be discussed, Russia's finance minister, Anton Siluanov, said Moscow would buy $2 billion of Ukrainian eurobonds by the end of this week, in addition to the $3 billion it bought in late December. A Ukrainian government source said it expected the money from Russia to arrive on Wednesday.


 

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