Here's the Wikipedia page for some deep background:
http://en.wikipedia.org/wiki/Ukraine" onclick="window.open(this.href);return false;
and:Ukraine is a unitary state composed of 24 oblasts (provinces), one autonomous republic (Crimea), and two cities with special status: Kiev, its capital and largest city, and Sevastopol, which houses the Russian Black Sea Fleet under a leasing agreement. Ukraine is a republic under a semi-presidential system with separate legislative, executive, and judicial branches. Since the dissolution of the Soviet Union, Ukraine continues to maintain the second-largest military in Europe, after that of Russia. The country is home to 46 million people, 77.8 percent of whom are ethnic Ukrainians, with sizable minorities of Russians (17%), Belarusians and Romanians. Ukrainian is the official language of Ukraine; its alphabet is Cyrillic. Russian is also widely spoken. The dominant religion in the country is Eastern Orthodox Christianity, which has strongly influenced Ukrainian architecture, literature and music.
From elsewhere in DICE:Ukraine has long been a world breadbasket due to its fertile conditions. The country, as of 2011, was the world's third-largest grain exporter.
And:absinthe beginner wrote:Ukraine credit rating downgraded. Ratings agency fears steep and uncontrolled depreciation of the currency as central bank limits private transfers abroad of around $5,700 a month.
http://www.theguardian.com/world/2014/f ... cal-crisis" onclick="window.open(this.href);return false;
Ukraine's economic woes deepened on Friday after Fitch downgraded its credit rating and the central bank imposed new capital controls to bolster the hryvnia. The ratings agency cited the ongong political instability and fears over its debt repayment schedule as it downgraded the country from "B-" to "CCC". Fitch added that "political uncertainty has contributed to a weakening in confidence in the Ukrainian hryvnia and in the exchange rate policy".
Ukraine is struggling to prop up its currency amid a political crisis that has seen anti-government demonstrators take to the streets to protest against a move closer to Moscow's economic orbit, and a debt crisis that has left it on the verge of bankruptcy.
Russia suspended a $15bn (£9.18bn) bailout last week after President Viktor Yanukovich, in a concession to protesters, sacked the pro-Russian prime minister.
Moscow says it will only restart the funding once it knows who will be the new prime minister. Yanukovich was due to meet President Vladimir Putin in the Black Sea resort of Sochi, where the Winter Olympics open on Friday night.
The central bank says the currency controls will be temporary. The controls, announced late on Thursday and imposed from Friday morning, include a limit on private transfers abroad of around $5,700 a month or 50,000 hryvnia and bans on purchases of foreign currency for overseas investment or early repayment of loans.
"The central bank has effectively imposed capital controls. The result will be a flourishing black market (in dollars)," said Tatiana Orlova, an emerging markets strategist at RBS in London.
So that sets the scene. On to recent news.absinthe beginner wrote:Unrest flares up again in Kiev, Ukraine, as both the Russian Ruble and Ukrainian Hryvnia hit new lows against the dollar.
http://www.telegraph.co.uk/news/worldne ... ashes.html" onclick="window.open(this.href);return false;
http://www.marketwatch.com/investing/Currency/USDRUB" onclick="window.open(this.href);return false;
http://www.marketwatch.com/investing/Currency/USDUAH" onclick="window.open(this.href);return false;
http://www.bloomberg.com/news/2014-02-1 ... -drop.html" onclick="window.open(this.href);return false;