Ukrainian power systems disabled by cyber attack

Hackers allegedly linked to Russian security services were  reportedly behind attacks on the Ukrainian power grid that caused black outs in the capital region and throughout western Ukraine. According to officials that have analyzed samples of BlackEnergy, the code used in the attacks, control systems used to “coordinate remote substations were disabled” in the attack. A…

Advertisement

Ukraine imposes retaliatory sanctions against Russia

Ukraine’s parliament voted for the bill allowing the Cabinet of Ministers to impose tit-for-tat sanctions against Russia. The amendment to the law of Ukraine on International Business Activity authorizes economic penalties against Russia in response to discriminatory actions of the aggressor state. 291 MPs, that is more than necessary number of lawmakers (226) voted in…

Crimea without power after cut off from Ukrainian flow

The Crimean Peninsula was left without power after two pylons transmitting electricity from southern Ukraine were knocked over. RIA Novosti and RFERL reported that a group of activists from the Ukrainian Right Sector nationalist group and Crimean Tatars encircled the area, preventing the Ukrainian national guard, local authorities and electricians from assessing the situation. Crimea…

Ukrainian elections marked by allegations of corruption regarding ballots

Local elections were held across Ukraine on October 25, excepting one city where elections were canceled amid allegations of erroneously printed ballots. The Ukrainian governments stated that elections were canceled in the provincial capital of Mariupol in Ukraine’s eastern region. The steel company that printed the ballots is owned by Ukraine’s richest man Rinat Akmetov,…

Ukraine Reaches Agreement to Restructure Debt

Ukraine reached an agreement with a group of its creditors to restructure its debt and avoid a looming default. The investors will accept a 20% write-off on the estimated $18 billion in debt on the country’s bonds and accept a freeze on repayment for the next four years. The Ukrainian finance ministry has lauded the…

Russia refuses to renew Ukraine gas contract

Russia has announced via Prime Minister Dimitry Medvedev that Kiev will not be allowed to sign any additional natural gas delivery deals from Gazprom, the state gas company, saying that “we won’t extend a transit contract with Ukraine on disadvantageous terms.” The current agreement lasts through 2020, but consistent disagreements and renegotiations on payments have…

Ukraine Looks to Hasten Debt Restructuring

The New York Times writes that Ukraine is moving quickly to avoid a repeat of the ongoing Greece crisis and restructure its debt. The article contends that the Ukrainian government, along with the IMF, is attempting to strong-arm creditors into accepting “big losses” in the process of negotiating a bailout deal.  The government currently stands…