Russia-Ukraine crisis threatens EU economy

Reply Thu 24 Apr, 2014 06:33 am
As risk of exacerbation of the Russia-Ukraine crisis is very high, its negative results will certainly spread in Europe. To be clear about the fact that Europe's economy is rather vulnerable to ripple effects from this crisis it is enough to remember such London-based economists as Gilles Moec and Marco Stringa, who are sure that further deterioration in only energy relations between Moscow and Kiev (namely, Russia's refusal to ensure gas deliveries to Ukraine at the reduced price of $268 per 1,000 cubic meters, as well as, current Gasprom threats to leave Ukraine without energy if Kiev continues being in denial of new gas price of $485 per 1,000 cubic meters) may extremely hurt those European countries, which are still greatly depending on Russian gas transit through Ukraine. To avoid horrible situation with gas transit through Ukraine to Europe in the winter of 2006 and 2009, we should either pay Ukrainian debts to Russians or divide our own gas supplies with Ukrainians. But we are not so rich to do it now, in conditions of heavy economic difficulties!
Maybe, instead of sanctions' threatening to Russia it would be better for our EU leaders to do all possible in order to compose disagreements between Russia and Ukraine, eh?
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