Russia may finally be ready to put the Ukrainian conflict on ice. But don’t expect a thaw in its relations with Kiev tomorrow
You’d be hard pressed to come across an asset bubble in Ukraine. A cash-strapped state, persistent corruption and elusive structural reforms continue to keep investors at bay. But it's a more common type of bubble that you may soon struggle to find across the country. Ukraine yesterday launched criminal proceedings against Coca-Cola and Pepsi after these published a map on their website showing Crimea as a part of Russia. It probably won't sugar-coat the penalty.
The tough stance reflects a hardening of Ukraine’s position over the conflict bubbling along its eastern border. On Wednesday, the country's finance minister told reporters that 2016 “will be the year we really begin pressing forward on a process to return Crimea”. One of its key representatives added that elections in two regions due to be granted autonomy were impossible without border control. That followed a press conference during which president Petro Poroshenko stated that “Ukrainian sovereignty over the occupied territories must be restored this year.”
But efforts to crank up the pressure go further than words.Read More