Ukraine-Russian oil Dispute - Essay Example

Ukraine-Russian oil Dispute Ukraine-Russian oil Dispute Russia and Ukraine have had an economic crisis in the preceding years that have grown into a political stalemate, with the involvement of other Western nations. The US and other western nations’ attempts to mitigate over the crisis have been futile, with Russia refusing to supply oil to Ukraine, owing to Ukraine’s failure to pay accumulated oil debts (Böhme, 2011). Russia relies heavily on Ukraine, in its supply of oil to the EU nations.

Besides, Ukraine relies on Russia for the supply of oil. Both nations fail to take responsibility over the crisis while pointing fingers at each other. This prompted the EU to send a delegation aimed at mitigating over the predicament in 2009 and January 2011, presidents of both Nations signed an agreement on the restoration of oil supplies to Ukraine and the supply of oil to the EU nations through Ukraine (Böhme, 2011). However, this agreement failed and in October 2011 the Ukrainian president faced a 7-year imprisonment over that agreement.

Recently, Ukraine and other EU nations have the reliability of oil supplies from Russia, owing to the stalemate. Half of the oil supplies to the EU pass through Ukraine. As such, the nation ought to consider other options. Survey also shows that Ukraine reliance on oil from Russia has recently reduced. This may have resulted over the reliance of other fuel sources, hence reducing dependence of Russian oil (Böhme, 2011). Ukraine may also consider seeking other oil-producing nations and create alliances.

Ukraine may also consider the EU and US mitigations with the US issuing sanctions to Russia, in a bid to compel Russia to reintroduce the oil supply to Ukraine. Reference Böhme, D. (2011). EU-Russia energy relations: what chance for solutions? : a focus on the natural gas sector. Potsdam: Universitätsverlag Potsdam.