Ukraine Has Reached a Debt Deal. Now What?

While most analysts agree that the deal buys time for the authorities in Kiev, the terms of the deal seems to favor the lenders over the Ukrainian government. Goldman Sachs noted that the likelihood that bondholders would vote against the bond restructuring was small “given the attractiveness of the offer relative to market expectations.”

In return for a four-year extension on payments of the remaining debt, Ukraine agreed to a higher coupon (interest rate) of 7.75 percent, up from 7.25 percent. Further, after the four-year period expires in 2019, Ukraine will be obliged to spend 40 percent of any GDP growth over 4 percent on debt repayment.

Ukraine move to cede powers to pro-Russia rebels sparks deadly melee

A bill granting autonomy to Ukraine’s restive eastern regions cleared its first parliamentary hurdle on Monday but sparked a violent right-wing protest that left a national guardsman dead and more than 120 people injured.

Exclusive: U.S. weighs sanctioning Russia as well as China in cyber attacks

The United States is considering sanctions against both Russian and Chinese individuals and companies for cyber attacks against U.S. commercial targets, several U.S. officials said on Monday.

The officials, who spoke on condition of anonymity, said no final decision had been made on imposing sanctions, which could strain relations with Russia further and, if they came soon, cast a pall over a state visit by Chinese President Xi Jinping in September.

Ukraine: Going underground to escape the conflict

Donetsk, Ukraine – On the front lines of war-ravaged eastern Ukraine, Svetlana Alexandrovna, 64, has spent the last 12 months sheltering in the basement of her home on the outskirts of Donetsk.

Life is tough underground with poor ventilation, and the constant artillery shelling above is nerve-wracking. But with not enough money to start a new life elsewhere, Alexandrovna cannot leave her house, and she said she wouldn’t move even if she could.

Deadly cheering for war in Ukraine by Western politicians and newspapers editors

Two weeks ago, the Washington Post published an editorial saying that the governments of the NATO military alliance are being too soft on Russia over the crisis in Ukraine. The editors want even more aggressive support to the governing regime in Kyiv than what is already being given.

In particular, the newspaper objects to the ceasefire agreement that it says beleaguered Kyiv was pressured to sign in Minsk, Belarus on February 15, 2015.

Russia, NATO need new rules to cut risk of war, ex-ministers say

Russia and NATO must agree common rules to handle unexpected military encounters to reduce the risk of inadvertently triggering a war between Moscow and the West, a group of former foreign and defence ministers said on Wednesday.

With both Russia and NATO intensifying military exercises because of the crisis in Ukraine, incidents such as mid-air face-offs between rival military jets are on the increase.

The coming war with Russia

David Pugliese writes on the growing concern “among some in the United States and Europe about the possibility that the standoff in eastern Europe between Russia and the West could somehow end in war. Political and military analysts don’t believe that either side would deliberately start such a war. But with large numbers of military forces operating in such close proximity, anything could happen, they warn.”

For Whom the Bell Tolls, Really – The Impact of the Sanctions Against Russia

An interesting take on the current sanctions regime against Russia by Dr. Dan Steinbock who observes that “the West continues to rely on the idea that “Putin is the problem, Russia is with us.” In reality, Putin’s actions reflect the wishes of the Russian people, including the moderate majority and the emerging middle classes.

Ukraine, separatists to strive for full ceasefire from September 1

Ukraine and pro-Russian separatists, in a gesture to shore up a tenuous ceasefire, agreed on Wednesday to strive for an end to all truce violations from next Tuesday, the OSCE and rebel representatives said.

Ukraine’s largest lender PrivatBank investigated for diverting $1.8bn of IMF funds

PrivatBank, Ukraine’s largest lender partly owned by controversial oligarch Ihor Kolomoisky, is under criminal investigation by the authorities for fraudulently diverting around what was then about $1.8bn, the bank has confirmed.

“We are aware of the existence of criminal proceedings. PrivatBank fully cooperates with the investigators and provides all the information and documents necessary to establish the objective truth of the case,” a bank spokesperson told bne IntelliNews on August 20.

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