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17 December, 2013 19:46   ▪  

The Wall Street Journal: Russia Bails Out Ukraine In Rebuke to U.S., Europe

Russia lavished Ukraine with a bailout package worth at least $20 billion on Tuesday, December,17th, trumping the West in a Cold War-tinged struggle that keeps the former Soviet republic in Moscow's orbit, The Wall Street Journal reports.

As WSJ reports, the pact was one of the richest ever offered by Russia to another country. Announced after talks in the Kremlin between Russian President Vladimir Putin and his Ukrainian counterpart Viktor Yanukovych on Tuesday, December 17th, the deal gives Ukraine loans and cheaper natural-gas supplies.

“It appears to be substantially larger and the terms less restrictive than the aid the West had been offering to entice Ukraine to sign the EU's trade-and-political accord. Russian officials said the first $3 billion in credits could be released within days,” The WSJ reports.

READ ALSO: Tough Russia and Doubtful Europe

The demonstrators on the Independent Square in Kyiv and Ukrainian opposition were livid by this decision of the Ukrainian President.

White House spokesman Jay Carney also denounced the deal, saying it "will not address the concerns of those who have gathered in public protest across Ukraine."

He added, "We urge the Ukrainian government to listen to its people and to find a way to restore a path to the peaceful, just, democratic and economically prosperous European future to which Ukrainian citizens aspire."


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