NEWSWATCH Moscow Times: Russia Has Ukraine’s Economy in a Choke Hold

[“Russia Has Ukraine’s Economy in a Choke Hold” – Moscow Times – Josh Cohen – Mar. 31, 2015]

Writing in The Moscow Times, Josh Cohen considers Russia’s impact on Ukraine’s economy, including within the context of Russia’s impact on efforts to restructure Ukraine’s debt in connect with bailout financing.

… to paraphrase Clausewitz, while the Minsk II cease-fire continues to hold in eastern Ukraine, Russia looks set to use its financial leverage over Ukraine as a ‘continuation of war by other means.’
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… as Ukraine begins talks with its foreign lenders, the status of Russia’s $3 billion Ukrainian eurobond threatens to throw a wrench in … efforts to restructure its foreign debt — and perhaps scupper its $40 billion aid package altogether.
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… until there is some kind of political settlement between Moscow and Kiev that protects what the Kremlin sees as Russia’s existential national security interests vis-a-vis Ukraine, Putin is unlikely to provide Ukraine the breathing space it needs to get back on its feet.

 

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