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Could Russia rescue Ukraine’s faltering economy?

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2 years ago

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Ukraine’s government has insisted its decision to suspend negotiations on the country’s Association…

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Ukraine’s government has insisted its decision to suspend negotiations on the country’s Association Agreement with the European Union was a purely economic one.

Prime Minister Mykola Azarov said the u-turn over the EU deal, which has enraged opposition politicians, was partially prompted by the harsh terms demanded by the International Monetary Fund (IMF) in a debt refinancing plan.

Moody’s rating agency has classified Ukraine as a “very high default risk”. Analysts believe that Ukraine is set to run out of cash within months if it does not secure funding.

Issuing government bonds could help raise some cash but Ukraine’s economic outlook would need to improve in order for that strategy to have any effect, according to Francois Girod at Ukrissibbank-BNP Paribas in Kyiv.

“They can issue bonds, if there’s some good news on the financial front. For example, if the IMF reaches some kind of agreement on refinancing; or if the Association Agreement with Europe had been signed; or if Russia comes to help and states publicly that they can provide some kind of financing,” Girod told euronews.

Political scientist Mykhaylo Pogrebinsky is one of several experts who believe Russian President Vladimir Putin may have made Ukraine’s President Victor Yanukovich an offer he could not refuse during talks that took place ahead of the suspension of the EU deal.

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“It’s freedom”: Border residents react to end of Gibraltar-Spain checks

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51 minutes ago

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July 17, 2026

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“It’s freedom”: Border residents react to end of Gibraltar-Spain checks

Routine border checks between Spain and Gibraltar have ended, allowing thousands of daily commuters to cross more easily. While many welcome shorter journeys and greater freedom, others remain cautious about the long-term impact.

READ MORE : http://www.euronews.com/2026/07/16/its-freedom-border-residents-react-to-end-of-gibraltar-spain-checks

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Cypriot minister defends appointment of EU Cyprus special representative following backlash

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2 hours ago

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July 17, 2026

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Cypriot minister defends appointment of EU Cyprus special representative following backlash

Cyprus says the EU’s appointment of Raffaele Fitto as special representative for the divided Mediterranean territory will support reunification efforts, but Turkish Cypriot leadership has blasted the move as biased and putting strain on efforts to improve EU-Turkey relations.

READ MORE : http://www.euronews.com/2026/07/15/cypriot-minister-defends-appointment-of-eu-cyprus-special-representative-following-backlas

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Latest news bulletin | July 6th, 2026 – Morning

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3 hours ago

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July 17, 2026

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Latest news bulletin | July 6th, 2026 – Morning

Catch up with the most important stories from around Europe and beyond this July 6th, 2026 – latest news, breaking news, World, Business, Entertainment, Politics, Culture, Travel.

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‘Food insecurity is on the increase’, World Food Programme Director says

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4 hours ago

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July 17, 2026

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‘Food insecurity is on the increase’, World Food Programme Director says

Conflict in Lebanon has “hit humanitarian operations” worldwide, says WFP Executive Director Carl Skau. “In the poorest countries, people are now eating less” as rising costs have reduced aid deliveries and disrupted supply chains.

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Ukraine opens new cluster of negotiations on EU membership track

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5 hours ago

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July 16, 2026

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The European Union and Ukraine on Tuesday opened a new cluster of negotiations, as part of the process for the country to join the Union.

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