Analyst: Russia saved Ukraine from default and devaluation

The broker company Alpari considers that Ukraine avoided sovereign default thanks to Russia.

According to the opinion of the director of analytical department of the company Alexandr Razuvaev, the agreements, achieved by the Heads of the two states on December 17, saved Ukraine from default, devaluation and from financial ruin, as the economy of the country was almost doomed.

“The Russian assistance turned out rather generous, if not to say excessive. The suggested conditions for Ukraine may be compared to those for Belarus. Whereby, Belarus is the allied state with the Russian Federation and is a member of the Customs Union. And the foreign policy of Ukraine can hardly be called totally friendly towards Russia,” the publication Companion cites the analyst.

Razuvaev called some of the appeasements of Russia towards Ukraine very disputable from the political and from the economic point of view. For example, the discount for gas will result in huge financial losses of Gazprom and will constitute approximately $3.5 billion a year. Also, Russia will hardly return the investments into the Ukrainian securities, which will, by the way, solve the problems of Ukraine for the next 1.5 years (exactly till the next presidential elections).

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