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This move is stressed for by the European Union as well as the United States of America. Russia on the other hand aims at maintaining its influence on Ukraine and other smaller states of the region which will allow it promoting its products, services and large scaled enterprises such as Gazprom and many more gas and natural resources providing companies and multinationals.
Given the fact that Ukraine is largely reliant upon Russia for the fulfillment of its citizens needs, the natural gas resources availability and purchase from Russia is another constraint. With the recent strangulation of ties between them, and the time barring factor and sword hanging over the heads of Ukrainians, the Kiev administration is deeply concerned about the possible backlashes of it.
Naftogaz is another stakeholder in the entire event and aims to undermine the impact and influence of Gazprom. Ukraine’s economy that is already hit by the economic recession and other obstacles has found its overall usage and consumption reduced by a given 5 to 9 percent decrease in last year or so. With Russia offering to reduce the rates to 385 dollars per cubic meter, Ukraine still insists on bringing the rates down to the originally set rates that were in place previously.
European Union holds key interest and key position with regard to the overall debacle of Ukraine- Russia crisis has beefed up its activities in bid to find an amicable solution. European Union has its backing towards Ukraine and aims at standing by Ukraine in these rough times where Russia has already annexed Crimea (Ortlepp, 161) and is using its economic strength to its benefit (Kolyandr). With the increase in the rates, Ukraine is subsequently left with the impact of higher debts to pay and the time running out on them, the E.U and other global entities have stepped in, in hope to resolve the overall issue and prevent Ukraine from
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(Journal Opinion Article Essay Example | Topics and Well Written Essays - 500 Words - 1)
“Journal Opinion Article Essay Example | Topics and Well Written Essays - 500 Words - 1”, n.d. https://studentshare.org/macro-microeconomics/1651276-journal-opinion-article.
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